We are thrilled to share that as a pioneer of Soundbox, our made-in-India device has bagged the ‘Award of Excellence’ for Innovation in Digital Transformation at the 14th edition of the Aegis Graham Bell Awards held on February 21, 2024, in New Delhi.
Supported by the Ministry of Electronics and Information Technology Government of India, the award recognises excellence and innovation under various categories like AI, IoT, and Blockchain, among others. The not-for-profit initiative, one of the largest innovation awards in the country, also recognises excellence for businesses and brands that harnessed the power of digital technology to reshape industries, engage customers, and drive innovation.
As a pioneer of digital payments, we developed an innovative, affordable IoT device – Paytm Soundbox for every business including the small and micro-merchants in India. Our device has played a pivotal role in enabling safe and secure digital transactions, thereby enhancing trust for consumers and merchants to move towards a digital ecosystem. Our low-cost device provides a transaction sound notification within a few seconds in 11 regional languages.
Our device has been assembled completely in India and is built with advanced and scalable IoT technology. Our Soundbox provides instant voice-based confirmation to small businesses and protects them from getting duped through fake app-based confirmations. We aim to bring millions of merchants and half a billion people to the mainstream economy through our innovative financial technology solution.
Driving our innovation further, last year we also introduced new innovative 4G-enabled devices – Music Soundbox and Pocket Soundbox. After revolutionising in-store payments with our Soundbox across the country, our new devices have been designed to bring convenience to merchants. Our Pocket Soundbox is a game-changer for merchants on the go, while our Music Soundbox is a revolutionary device for a lifestyle experience.
We also introduced Paytm Card Soundbox last year to solve two problems for merchants — accepting card payments along with getting instant audio alerts for all payments. Our unique device is transforming in-store payments by expanding payment acceptance for merchants by combining Soundbox with NFC or contactless debit and credit card payments with mobile payments.
In the fast-evolving world of digital payments, we have emerged as a leader in empowering merchants to accept cashless transactions. With our innovative Soundbox devices, we have revolutionised the way merchants do business, making it easier and convenient for them to embrace a cashless future. Paytm prides on building products and services that enrich and empower people’s lives daily.
