Paytm launches IoT-based Payment Devices Soundbox 2.0 and Smart POS for Android phones

Paytm has introduced its latest IoT based payment devices, Soundbox 2.0 and Smart POS for Android phones. The Soundbox 2.0 offering will help users establish safe and secure transactions. Using the device, merchants will not have to keep checking their mobile phones for payment receipt confirmation. Thus, it will help in increasing efficiency and reducing queues and customer waiting time.

The soundbox will also help users receive instant voice-based confirmations of payments; thus, ensuring that merchants do not fall prey to payment scams. It will keep track of all transactions and protect them from getting duped by customers showing fake screens and false confirmations. The device will also enable smooth and seamless digital payments for home delivery as the delivery executive can get instant voice confirmation after someone pays through a QR-code. The Smart POS, on the other hand, will help all retailers, small or big, accept card payments. The Paytm for Business app will support and manage all business contactless card payments activity for merchants anytime, anywhere.

About Soundbox 2.0

The Soundbox 2.0 is an upgrade on the last All-in-One payments and reconciliation technology from Paytm. According to the company statement, it will have a digital screen to provide instant visual confirmation of the payment along with a voice-based response. Further, merchants can tap the 'function button' twice to fetch the payment summary for the entire day. This device is beneficial for small merchants as well as medium to large retailers. It will help them in maintaining records of all transactions and streamlines all payments made during the day.

Further, the device comes equipped with a 2000 mAh battery. It also announces when the device has a full battery life of running out of charge. The Soundbox 2.0 comes with a SIM card slot to work without a wifi connection. It is available in five languages including English, Hindi, Tamil, Telegu & Kannada. Paytm plans to add more regional languages including Marathi over the next few months.

About the Paytm Smart POS for Android phones

The Paytm Smart POS for Android phones transforms a smartphone into a device that accepts debit and credit card payments just like a normal EDC machine. Supported by the Paytm for Business app, the one application to manage all business, the Smart POS enables merchants to seamlessly start accepting contactless card payments anytime, anywhere. The company has partnered with leading financial services institutions including Visa and MasterCard to facilitate card payments for Smart POS. It would soon be live with Rupay as well.

Paytm aims to equip millions of street hawkers, small merchants, MSMEs, tuck-shop owners, Kirana stores who have smartphones with this service. Merchants simply need to sign up on the Paytm for Business App, after which they will need to download the ‘Paytm Smart POS’ on their Android-based mobile phones. Once downloaded, merchants can start collecting payments from their customers by tapping the card on the back of their smartphones. The payment is then successfully collected and transferred to the merchant’s account along with the other QR payments. This provides the businesses with a single-point easy reconciliation.