One97 Communications Limited (OCL), which owns the Paytm brand, has launched a breakthrough initiative – ‘Card Speaker’.
Paytm Card Soundbox is the first Soundbox in India to also accept contactless card payments and will further accelerate cashless transactions in the country.
The announcement marks a major step in empowering merchants across India to seamlessly accept mobile and digital payments on the Visa, Mastercard, American Express and RuPay networks via the iconic Soundbox device with tap-to-pay functionality. Bank card payment, designed to facilitate business expansion.
Known for its pioneering audio-based confirmation with the Paytm Soundbox, Paytm continues to lead the market in in-store payment technology innovation.
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Following the successful launch of Paytm Pocket Soundbox and Paytm Music Soundbox, the launch of Paytm Card Soundbox reinforces the company’s commitment to enhance convenience for merchants.
Paytm Card Soundbox (Rs 999) solves two key challenges faced by merchants: accepting card payments and receiving instant audio alerts for all transactions.
This innovative device revolutionizes in-store payments by combining Soundbox technology with NFC or contactless debit and credit card payments.
It is an industry-first solution that benefits both merchants and customers by providing audio and visual payment confirmation via an LCD display.
The Paytm Card Soundbox comes with a built-in ‘tap to pay’ feature that allows merchants to accept card payments up to Rs 5,000.
The ‘Made in India’ device utilizes 4G connectivity for lightning-fast payment reminders.
It has a powerful 4W speaker, improves the clarity of payment notifications, and boasts an impressive five-day battery life.
To cater to a diverse merchant base, the device offers alerts in 11 languages, which merchants can customize through the Paytm for Business app. In addition, users with NFC smartphones can conveniently pay with a tap function.
“Promoting Digitalization”
Vijay Shekhar Sharma, Founder and CEO of Paytm said: “Paytm has always been at the forefront of innovation for small businesses in India, solving their payment and financial services problems. Today, with the Paytm Card Soundbox, we are taking this to the next level. We see that merchants and consumers need card acceptance as much as using Paytm QR code is as easy as mobile payment. The launch of Card Soundbox will greatly help to integrate the two needs of merchants for mobile payment and card payment.”
“The Paytm Card Soundbox is another innovation that will enable small merchants to easily accept contactless card payments, providing customers with a seamless digital payment experience,” said Gautam Aggarwal, President, South Asia, Mastercard.
Sandeep Ghosh, Country Manager, India and South Asia Group, Visa, said: “The launch of the Paytm Card Soundbox demonstrates the importance of contactless card payments in today’s world. Visa is proud to be part of this innovation, which provides merchants with a versatile solution.” solutions and in line with the changing preferences of Indian consumers.”
Anurag Gupta, Vice President and Head of Acquiring and Web Publishing, American Express, said: “After revolutionizing mobile payments with the first Soundbox in India, the Paytm Card Soundbox will further drive the country’s digitization. It is the first in India to also accept card payments. Soundbox, which will help accelerate the growth of cashless transactions in the country, and Amex is delighted to partner with Paytm to drive growth in acceptance.”
