One 97 Communications Limited, which owns the Paytm brand, has launched the ‘Paytm NFC Card Soundbox’, a payment device that combines NFC (near field communication) technology with mobile QR (quick response) payments.
Customers can either tap their debit or card cards or scan a QR code to make payments using the device.
The soundbox will serve as a card payment machine and an audible receipt announcer. It comes with a 10-day battery life, instant audio confirmation, and a screen to display transaction amounts.
During a virtual conference to launch the soundbox, Paytm CEO Vijay Shekhar Sharma emphasised that electronic data capture (EDC) machines, also known as credit card swipe machines, come with maintenance and connectivity challenges and are often much more expensive.
The NFC card soundbox ensures that merchants are not forced to have two separate machines for card payments and UPI payments, said Sharma. It equips small shops with an affordable device for comprehensive payment, said the company, in a statement.
Incidentally, Paytm also offers an Android-based EDC machine.
The NFC card soundbox is the 10th device in the firm’s product portfolio, which also includes a portable soundbox and a device that can play music.
During the launch, Sharma announced the company’s plans to come out with customised QR code panels and stickers featuring the the merchant’s brand name and other graphics. He also said the company is working to release a dynamic QR code, which can automatically input the amount payable in the payee’s UPI application.
“Paytm pioneered the soundbox, an innovative first-of-its-kind product, which has gained widespread popularity among offline stores, offering unparalleled convenience for merchant partners,” said the company.
“Supporting notifications in 11 languages—English, Hindi, Gujarati, Bangla, Odia, Marathi, Punjabi, Telugu, Malayalam, Tamil, and Kannada—and featuring a range of device models, the Paytm soundbox is designed to meet the diverse needs of offline merchants across the country,” it added.
