HomeTech newsPaytm leader in offline payments with 5 billion soundbox transactions processed in...

Paytm leader in offline payments with 5 billion soundbox transactions processed in 2022


Digital Desk, New Delhi. Digital payments in India have grown very rapidly in the last few years. India has now become a leading country in the world for rapid adoption of online payments.

The digital payments revolution started as an innovation to focus on consumer needs. Leading fintech companies are now building solutions to further strengthen the digital payments ecosystem for merchants.

Being the leading digital payments and financial services company in the country, Paytm has been the first to empower merchants with its range of subscription-based payment devices including the revolutionary Soundbox that was introduced in India in 2019.

With over 5 billion online payment transactions processed through its soundbox devices in FY 2022, Paytm’s innovative offering continues to be the leading payment solution in the country.

In addition to enabling merchants to seamlessly pay, the device has also helped save paper slips worth £4.43 million over the past year.

Launched in 2019, Paytm Soundbox created a wave among merchants in the country as it was the first device that enabled them to easily track the payments received from customers. The technology has become so successful among merchants in the country that Paytm’s competitors are now following in its footsteps.

With Soundbox technology, Paytm is leading the next payments revolution in India by empowering merchants after leading the digital payments revolution in India.

Paytm Soundbox continues to be the most preferred choice for merchants in the country as the company continuously upgrades its solutions to further empower merchants with unique offerings like credit facility, 4G connectivity and cashback.

The soundbox comes with a small portable speaker that gives merchants instant audio alerts on receiving digital payments in their preferred regional language. It supports multiple languages ​​like English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi and Odia.

Soundbox works with multiple payment methods like Paytm Wallet, Paytm Postpaid, Paytm UPI and other BHIM UPI apps, net banking and cards, hence providing more flexibility and convenience to merchants.

Apart from the soundbox, Paytm’s innovative payment solutions for merchants include QR payments, EDC and payment gateways.

In its latest monthly operating performance updates (July and August 2022), the company said it has now deployed over 4.5 million devices as it continues to further strengthen its offline payments leadership.

(IANS)

Disclaimer: This is a news published directly from IANS News Feed. With this, the team of bhaskarhindi.com has not done any editing of any kind. In such a situation, any responsibility regarding the related news will be of the news agency itself.

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