Here’s how our latest innovation — the  Made-in-India Paytm Card Soundbox will empower merchants

byPreeti VermaLast Updated: September 6, 2023

Our innovative products are impacting the lives and businesses of millions of merchants in India. With every new innovation in our pioneering Soundbox, we focus to cater to the needs of different segments of the merchants. Our latest innovation Card Soundbox has become India’s first Soundbox with card payments, which will empower merchants to accept both mobile and card payments across all Visa, Mastercard, Amex and RuPay networks.

Speaking at the launch, our Founder & CEO Vijay Shekhar Sharma said that Paytm Card Soundbox is a milestone device, which will take India’s merchant payment to the next level. He added, “Paytm’s agenda is growth of payments because with that the country grows. When Paytm grows, India grows.”

With the Paytm Card Soundbox, we are solving two problems for merchants – accepting card payments along with getting instant audio and visual alerts for all payments. It is accepting payments with a simple ‘tap and pay’ and by scanning the QR. It is expanding payment acceptance for merchants by combining Soundbox with NFC or contactless debit and credit card payments with mobile payments. Considering G20, which is starting from September 9 and 10, our Card Soundbox will play a key role in accepting all domestic and international payments. 

Tapping the need of Merchants

In a discussion with Vijay, Ripunjai Gaur, CBO – Offline Payments, Paytm, said that merchants do not want too many devices crowding the counter. There was a need for a consolidated device and we were able to identify that need and design a device that is a simple and easily scalable solution that enables merchants to accept both mobile and card payments. 

Bipin Kaul, CBO, EDC Retail Business, Paytm said that with this device, we would democratise card payments at a micro-level. “Cards bring a lot of purchasing power for consumers. Merchants don’t want to say no to any consumer walking into the store but he can’t afford all the devices. Just like we have democratised mobile payments, with this device we would democratise card payments at a micro-level.”

Informing what is making Paytm Soundbox merchants favourite, Bhavesh Gupta, President and COO, Paytm said, “The sheer value of Paytm Soundbox has made it a merchant favourite. With Soundbox coming in, merchants don’t need to pay for bank notifications. We charge a very nominal fees from merchants.”

Saying that the concept of credit is going to transform on a phone, he further added that there are many people who want mobile credit and mobile phone carrying credit will become the future. 

Easy & Faster Payments

Making card payments mainstream, our innovative Paytm Card Soundbox has been gaining positive reactions from both merchants and our partners – Mastercard, Visa, RuPay and Amex. 

Congratulating Paytm for Card Soundbox, Rishi Chhabra, Vice President and Head of Merchant Sales & Acquiring, Visa, said that this device will be propelling payments and consumer choice. “As a global company, working on payments, leading on payment innovations for so many years, we have understood that we got to be very locally relevant. Innovations like this, partnering with Paytm on a launch of something like this is critical. It gets payments, ubiquity, choice, convenience across the true Bharat, the true India.” 

Similarly, Vikas Varma, COO – South Asia, Mastercard, was delighted how Paytm is solving the issues for merchants by bringing unique intervention at apt time. “There is a huge digital funnel on the consumer side that is growing. Paytm is solving the real issue for the merchants,” he said.

While, Anurag V Gupta, Vice President & Head – Acquiring & Network Business, American Express stated, “At Amex, our partnership with Paytm and others has helped the growth of our card acceptance. Your innovation is making card payments mainstream.”

Sharing their experiences of using the Paytm Card Soundbox, the merchants said that it is fascinating the customers and has made accepting payments easier and faster. 

A merchant from Jaipur talked about how Paytm Card Soundbox has made accepting payments easier and faster and added, “Paytm has been a major contributor to India’s digital revolution.” While, one from Pune hailed the new Paytm Card Soundbox and said its tap feature is amazing.

This designed and made in India product offers versatility to the merchants and ticks several boxes of utility. For the merchants, our Card Soundbox has become the champion!

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