In the fast-evolving world of digital payments, one company has emerged as a leader in empowering merchants to accept cashless transactions: Paytm. With its innovative Soundbox device, Paytm has revolutionized the way merchants do business, making it easier and more convenient for them to embrace a cashless future. The adoption of Paytm Soundbox among merchants in India has been nothing short of extraordinary, with a new device being purchased by a merchant every 6 seconds. This was revealed by the company in its Paytm 2022 Recap, which also highlighted interesting trends of transactions made through Paytm in the last year. Paytm Soundbox is surely becoming the sound of merchant transactions in India.
The rapid adoption of Soundbox is a testament to the convenience and effectiveness of Paytm’s innovative solution, which has helped merchants streamline their payment process and build trust with their customers. As India continues to embrace digital payments, Paytm’s Soundbox device has emerged as a game changer for merchants. Paytm continues to cement its leadership in offline payments with more than 5.8 million merchants now paying subscriptions for payment devices like Soundbox and PoS.
A first of its kind in India, the device was introduced by Paytm in 2019 and provides instant audio confirmation to merchants whenever a payment is made through a Paytm QR code. This has helped to build trust between merchants and customers, as merchants can quickly confirm successful payments and reduce the risk of false confirmations or customer fraud.
The small portable device has emerged as a disruptor in digital payments, with Paytm claiming that Soundbox continues to be the leading payment reconciliation solution in the country. Paytm had said that more than 5 billion digital payment transactions were processed through its Soundbox devices in FY22.
So what makes Paytm Soundbox such a game-changer for merchants? When a customer makes a payment by scanning a Paytm QR code the Soundbox notifies the merchant of successful payments with a loud alert in their preferred regional language within seconds. This way, the merchant can attend to other customers without having to constantly check the phone for payment alerts.
In 2021, Paytm introduced an upgraded version of the Soundbox, known as Paytm Soundbox 2.0. This upgraded version includes a digital screen that provides instant visual confirmation of the paid amount, in addition to the audio notification. It also has Paytm’s All-in-One QR Code, enabling merchants to accept payments from multiple instruments like Paytm Wallet, Debit & Credit Cards, Net Banking and Paytm UPI.
It’s clear that Paytm’s Soundbox has played a pivotal role in establishing digital transactions as a safe and secure process. As Paytm continues to innovate with the Soundbox, its commitment to empowering merchants and building trust in the industry has made it a pioneer in the field. It’s no wonder that Paytm Soundbox is the preferred merchant device for millions of businesses big and small.
Disclaimer: This article has been produced on behalf of Paytm by HT Brand Studio.
Download The Mint News App to get Daily Market Updates.
