Transformative Power of Paytm QR and Soundbox: How Our Innovative Technology is Helping Small Vendors Transition to Mobile Payments

byKrishna VanamaliLast Updated: May 4, 2023
Image courtesy: Pictures and videos shared by users on Twitter and Instagram

As India’s leading mobile payments company, we have been empowering small merchants across the country with our innovative QR code solution. By pioneering QR codes in India, we have enabled millions of shopkeepers, street vendors, and service providers to accept mobile payments without any hassle.

A Twitter user, Ritwik Rout, recently shared a picture of a man smiling and holding up his Paytm QR code in Baripada in Odisha’s Mayurbhanj district. Rout captioned the image, “Yesterday my father went to a local vegetable market in Baripada. He spotted an old man selling his home grown vegetables and noticed using Paytm QR for receiving payments. See the happiness when asked to click a picture with his QR. Now that’s what I call a fully digitised India.”

Paytm QR has also been instrumental in fostering financial inclusion and bringing millions of unbanked and underbanked Indians into the formal economy. It has transformed how small merchants conduct business by providing a simple and secure way of accepting mobile payments.

We have more than 30 million merchants in its ecosystem. Paytm QR, which can be set up at zero cost, enables merchants to accept payments from various sources, such as Paytm Wallet, Paytm Postpaid, UPI, debit cards, credit cards, and net banking.

The heartwarming story of the elderly vegetable seller in Odisha is a testament to the transformative power of Paytm’s innovative technology in uplifting the lives of ordinary merchants.

We have pioneered India’s QR and mobile payments revolution and are further supporting small businesses to accept mobile payments smoothly with our innovative Paytm Soundbox. The compact and user-friendly device, instantly announces payment confirmations through a voice alert. This feature helps merchants easily verify transactions without having to check their smartphones, making the payment process even more seamless and efficient.

We have deployed more than 6.8 million Soundboxes, more than any company. It is no wonder that we are today the leader in person-to-merchant payments in India.

A recent video shared on Twitter showcases the impressive reach of Paytm, even in the most unexpected of places.

The video shows a roadside vendor along a highway in Maharashtra using a Paytm Soundbox and QR code to accept payment for sugarcane juice and jaggery. 

With a new Paytm Soundbox being purchased by a merchant every 6 seconds, it’s clear that this small, portable device is revolutionizing the way merchants accept payments and build trust with their customers. With support for 11 languages, the Soundbox is helping merchants across the country easily keep track of all payments received.

This roadside vendor in Maharashtra was just one example of the wide reach and impact of Paytm. By empowering small and micro-businesses with innovative solutions like the Soundbox, we are helping to drive economic growth in the country.

We have partnered with top financial institutions to offer easy credit access to millions of merchants on our network through our loan distribution business. By providing merchants the ability to quickly meet their working capital needs, we are enabling them to expand.

Another video shows Delhi’s famous Rampal Ke Chole Kulche in Anand Vihar, considered by many to be among the best places for the snack in the capital, accepting payments through Paytm.

A video shared on Instagram by ‘dfordelhi’ shows the streetside stall displaying two Paytm All-in-One QR code stickers alongside the Paytm Soundbox device.

In the video, the popular Rampal Bhaiya is seen serving his trademark fluffy kulchas with spicy chole to a crowd of customers. 

We have been at the forefront of enabling financial inclusion by empowering small merchants like Rampal Bhaiya, who has been serving kulchas for over three decades. We have enabled the digital transformation of small vendors and continue to empower the country’s grassroots with robust mobile payments solutions.

Paytm Soundbox ensures that India’s small shopkeepers like Rampal Bhaiya never miss a digital payment and confidently complete transactions.

We are committed to providing convenience, security and reliability to all small businesses. This aligns with our mission to bring half a billion Indians into the mainstream economy.

You May Also Like