Tap and pay: Paytm's new NFC soundbox revolutionizes offline payments
One 97 Communications Limited, the parent company of Paytm, has launched India's first 'NFC Card Soundbox.' This innovative device is a two-in-one mobile QR payment solution that combines Near Field Communication (NFC) card payment technology with mobile QR payments. It offers a cost-effective method for offline merchants to accept various types of payments including UPI as well as debit or credit card transactions.
Paytm NFC Card Soundbox: A tool for seamless payments
The Paytm NFC Card Soundbox is designed to simplify the payment process for customers. By either tapping their debit or credit card or scanning a QR code, customers can easily complete transactions. This device is particularly beneficial for small shops, providing them with an affordable means to accept all types of payments. A spokesperson from Paytm stated that this innovation "represents a new chapter in Paytm's Soundbox innovation, enabling seamless payments from any UPI app and NFC-based cards."
The soundbox boasts a battery life of 10 days
Paytm's introduction of the NFC Card Soundbox underscores its commitment to supporting India's small merchants. The company aims to equip these businesses with the latest technology for accepting all types of payments at an affordable price. The device is not only cost-effective but also boasts features like a long-lasting battery life of up to 10 days, instant audio confirmation, and a display to check transaction amounts.
Paytm NFC Card Soundbox supports 11 languages
The Paytm NFC Card Soundbox supports notifications in 11 languages - English, Hindi, Gujarati, Bangla, Odia, Marathi, Punjabi, Telugu, Malayalam, Tamil and Kannada. This feature caters to the diverse linguistic needs of offline merchants across India. However, it remains unclear if Paytm will charge a processing fee from merchants for credit card transactions. Typically, banks impose credit card swiping charges in India from 1% to 3% on each transaction conducted through a point-of-sale (POS) terminal.
