khaskhabar.com : Monday, 04 September 2023 4:26 PM
New Delhi . Paytm, the country’s leading payments and financial services company and pioneer of QR and mobile payments, on Monday launched its latest innovation – Card Soundbox.
With this the company will empower merchants to accept both mobile and card payments across all Visa, MasterCard, American Express and RuPay networks through its iconic Soundbox ‘Tap & Pay’, helping merchants grow their business.
Vijay Shekhar Sharma, Founder and CEO, Paytm, said, “Today with Paytm Card Soundbox, we have taken it to the next level. We have found that merchants and consumers need card acceptance just as much as they do mobile payments with Paytm QR Codes. The launch of Card Soundbox will go a long way in merging both the needs of merchants – mobile payments and card payments.”
Paytm was the first company to launch audio-based verification with Paytm Soundbox, revolutionizing in-store payments in the country.
Focusing on creating technology-based innovations, the company continues to be a market leader in in-store payments with devices like Paytm Soundbox and Card Machine.
“Paytm Card Soundbox is another innovation that will enable small merchants to provide a seamless digital payments experience to their customers by easily accepting contactless card payments,” said Gautam Agarwal, South Asia Division President, Mastercard.
After the recent successful launch of Paytm Pocket Soundbox and Paytm Music Soundbox, with Paytm Card Soundbox the company is providing more convenience for merchants.
With the launch of Paytm Card Soundbox the company has solved two problems for merchants – accepting card payments as well as receiving instant audio alerts for all payments. The launch of Paytm’s unique device will transform in-store payments by expanding payment acceptance for merchants by combining contactless debit and credit card payments with NFC (Near Field Communication) equipped soundboxes or mobile payments.
NPCI said, “Audio payment alerts have transformed digital payments in India and have enabled many merchants to seamlessly digitalize their businesses. Paytm Card Soundbox is India’s first soundbox that will also accept contactless card payments And will further accelerate cashless transactions in the country.
The new Soundbox will provide the merchant and customer with audio and visual payment confirmation through an LCD display.
Sandeep Ghosh, Group Country Manager, India and South Asia, Visa, said, “The launch of Paytm Card Soundbox reflects the importance of contactless card payments in today’s world. Visa is proud to be a part of this innovation that will bring more value to merchants. Offers a versatile solution and is in line with the changing preferences of consumers in India.”
With built-in ‘tap and pay’ functionality, merchants will be able to accept card payments up to Rs 5,000. The device is powered by 4G network connectivity, which provides the fastest payment alerts.
Paytm Card Soundbox with four watt speaker enhances the clarity of payment alerts. Its battery life is also five days.
Anurag Gupta, Vice President and Head – Acquiring & Network Issuing, American Express said, “After revolutionizing mobile payments in India by introducing Soundbox, Paytm Card Soundbox will further drive digitization in the country. Amex is happy to partner with Paytm on this acceptance growth.”
Additionally, the device offers alerts in 11 languages that the merchant can change through the Paytm for Business app. Also, users with NFC-enabled smartphones with Paytm Card Soundbox can also make payments through their phones using the tap feature.(IANS)
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