Paytm Will Launch Sim-Card Enabled ‘Soundbox’ to Allow App-Less Transactions

Exclusive News: Paytm Will Launch Sim-Card Enabled ‘Soundbox’ to Allow App-Less Transactions, the device will alert the retailer once the payment is done.

By Tech Hunt

Paytm Will Launch Sim-Card Enabled ‘Soundbox’ to Allow App-Less Transactions

 

Paytm is currently synonymous with electronic transactions in India. The fintech app rose to fame during the demonetisation stage in 2016 and since that time, it’s grown into becoming a full-fledged digital payments lender together with offering a lot of services to retailers, consumers and much more.

As an example, the company incorporated BHIM UPI in its stage as another method of paying for things via Paytm.

Then there is the postpaid service named Paytm Money which permits you to borrow funds in the company to buy groceries, order food, etc.On the other hand, the method of electronic payments is still far from ideal.

Paytm Will Launch Sim-Card Enabled ‘Soundbox’

 

Often if you’re trying to pay through your smartphone, there’s a long, fancy conversation with the retailer to talk about the QR code that you first scan and then wait till the payment is verified along with the merchant gets a message. The SMS frequently does not come instantly and there’s an awkward silence in the time between.

The SoundBox will basically alert the retailer the payment is done, instead of the retailer having to wait for an SMS on their smartphone. A user will still have to scan the QR code with this apparatus to make the payment.

Additionally, the device is only going to come with a speaker and you also won’t be a camera on it. It is powered with the MediaTek MT6261 SoC that’s made specifically for IoT apparatus. It’ll have 4G connectivity and will be linked to the internet to organize online payments on behalf of this retailer.

Allow App-Less Transactions

 

“Paytm has been working on a remedy which will be the Paytm SoundBox. This device is an intelligent device to make transactions easier. If today we’re doing a Paytm trade, probably it’s easy to see the confirmation message, but when we visit the retail outlets, it becomes difficult for the retailer to keep a track of incoming transactions,” the source explained.

Essentially, with all the box set up, retailers won’t need another smartphone to accept Paytm transactions. Now we don’t know the exact release date of the device, but Paytm has showcased the use-case situation and the last design of this box in a video on YouTube. We have reached out to Paytm to affirm that the launch. The story will be upgraded as and when the company responds.


Whether the apparatus will have a big impact on the way digital transactions are created is unknown, but we do expect to find these boxes rolling out to stores shortly. The apparatus will be sent to retailers for a subscription fee, like the way Paytm gives retailers card-swiping machines to get a premium. It will be intriguing to see how the device functions in reality.

Do we really need the amount paid declared on a speaker for all to hear?

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