Tue, 03 Oct 2023

New Delhi [India], September 4 (ANI): As One97 Communications, which owns Paytm launched its latest'Card Soundbox', which accepts both mobile and card payments, Founder and CEO Vijay Shekhar Sharma said the milestone solution will take India's merchant payments to the next level.

With the Paytm Card Soundbox, the company solves two problems for merchants- accepting card payments along with getting instant audio alerts for all payments. The soundbox is capable of accepting payments across all Visa, Mastercard, American Express and RuPay networks.

"We have a milestone device that will take India's merchant payments to the next level," said Vijay Shekhar Sharma.

The card-based payments through'tap and pay' basis are expected to help merchants scale their business.

"Paytm has always been at the forefront of innovating for India's small businesses, solving their payments and financial services problems. Today with Paytm Card Soundbox, we take it to the next level. We have found that merchants and consumers need card acceptance as simply as mobile payments with Paytm QR Code," said Sharma.

"The launch of Card Soundbox will go a long way in merging the two requirements of merchants - mobile payments and card payments," Sharma added.

UPI and other online payment systems have become hugely popular for retail digital payments in India, and its adoption is increasing at a rapid pace.

Paytm was the first company to launch audio-based confirmations with Paytm Soundbox in 2019. The newly launched card soundbox has a built-in'tap and pay' functionality through which merchants can accept card payments up to Rs 5,000.

The Made in India device, powered by 4G network connectivity, has a 4W speaker, battery life of five days.

Designed keeping the diverse merchant base in mind, the device offers alerts in 11 languages that can be changed by the merchant through'Paytm for Business' app.

Meanwhile, the 18th G20 Summit will be held over two days- September 9-10 in New Delhi and will draw leaders and delegates from 40 countries, including the 20 member states. (ANI)

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