We are thrilled to announce that Paytm, a pioneer of mobile payment, QR and Soundbox, has been recognised for its outstanding innovation and excellence in emerging technologies in the fintech category by the Republic Business Emerging Technology Award 2024 on July 5, 2024, in Gurugram. The Award celebrates businesses and brands that leverage digital technology to reshape industries, engage customers, and drive innovation.
We developed an innovative, affordable IoT device – Paytm Soundbox for every business including the small and micro-merchants in India. It has played a pivotal role in enabling safe and secure mobile transactions, thereby enhancing trust for consumers and merchants to move towards a digital ecosystem. Paytm Soundbox is a low-cost device that provides a transaction sound notification within a few seconds in 11 regional languages.
The 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. The Soundbox has been a groundbreaking, India-first revolutionary innovation, transforming the way merchants previously accepted payments.
Driving our innovation further, we introduced new innovative 4G-enabled devices – Music Soundbox and Pocket Soundbox last year. After revolutionising in-store payments with our Soundbox across the country, our new devices have been designed to bring newer conveniences to merchants. Our Pocket Soundbox is a game-changer for merchants on the go, while our Music Soundbox is an innovative device for a lifestyle experience.
We also introduced Paytm Card Soundbox to solve two problems for merchants — accepting card payments and receiving instant audio alerts for all payments.
Reaffirming our commitment to meeting merchants’ needs and enhancing operational efficiency, we unveiled two upgraded Paytm Soundboxes. These Made-in-India devices integrate 4G connectivity to ensure reliable network performance and notifications.
In the fast-evolving world of mobile payments, we are the leaders in in-store payments. With our innovative Soundbox devices, we have changed the way merchants do business, making it easier and more convenient for them to embrace a cashless future. We take pride in building products and services that enrich and empower people’s lives daily.
We were the first to introduce the Soundbox device in India in 2019, and since then it has been gaining popularity amongst the merchant community.
