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For merchants, Paytm has released Soundbox 2.0 and Smart POS IoT-based payment devices.

SoundBox 2.0 is useful for vendors of all sizes, from street hawkers to major stores, since it keeps track of all purchases and streamlines all payments made during the day.

Soundbox 2.0 and Paytm Smart POS for Android phones are Paytm’s newest Internet of Things (IoT)-based payment devices. Paytm All-in-One Android EDC devices, All-in-One Android Pocket POS, and Soundbox are among the company’s IoT payment devices. Over the next several years, the company plans to introduce 5 crore merchants into the mainstream economy and equip businesses with 50 lakh IoT products.

Paytm Soundbox has been instrumental in developing digital transactions as a safe and stable mode of payment, boosting businesses’ and consumers’ trust in moving digitally. This IoT-based system removes the need for merchants to continuously search their phones for validation, resulting in improved productivity and decreased queues and customer wait times on the shop floor.

Instant voice-based payment confirmations assist retailers in keeping track of all purchases, preventing them from being duped by consumers who display fake screens or issue false confirmations. Small businesses that use feature phones don’t have to rely on SMS confirmations. It has also allowed smooth and seamless digital payments for home delivery because the delivery executive can receive immediate voice confirmation after making a QR-code based payment with the mobile.

SoundBox 2.0

Paytm has unveiled the Soundbox 2.0, an innovative IoT platform made in India and operated by Paytm’s All-in-One payments and reconciliation technology. This new system has a digitally activated screen that provides immediate visual confirmation of the charged sum as well as a voice-based response. Merchants may also double-tap the ‘feature button’ to get the entire day’s payment summary. This system is useful to merchants of all sizes, from street hawkers to major retailers, since it lets them keep track of all transactions and streamlines all payments made during the day.

Merchants can also use the Paytm Soundbox 2.0 smart device to record the net sum corresponding to their set, as well as voice-based confirmation. “Today’s description for Paytm QR code: Received 10 payments of Rs 100, done 3 refunds of Rs 20, Net amount to be settled is equal to Rs 80,” for example, the system will play during the closing hour. It also indicates whether the unit has a full battery life or is about to run out of power. The computer has a 2000 mAh battery, a SIM card slot, and can be used without a WiFi connection.

It is currently available in five languages: English, Hindi, Tamil, Telegu, and Kannada, with more regional languages, including Marathi, to be added in the coming months. It includes Paytm All-in-QR, which allows merchants to accept unlimited payments with no fees directly through their bank account.
The retailer can select from a variety of simple payment options when buying a Soundbox. Furthermore, since it is battery powered, it allows street hawkers who do not have access to a reliable power source to accept digital payments when on the move.

Paytm Smart POS for Android phones

The Paytm Smart POS for Android phones app turns a smartphone into a system that accepts debit and credit card payments in the same way that a traditional EDC machine does. The Smart POS, which is enabled by the Paytm for Business app, which is a single app that can be used to manage all aspects of a business, allows merchants to accept contactless card payments at any time and from any location. For card payments for Smart POS, the company has collaborated with leading financial services organisations such as Visa and MasterCard. Rupay will be able to use it as well in the near future.

The Paytm Smart POS for Android phones app transforms a smartphone into a device that accepts debit and credit card payments much like a typical EDC computer. Merchants can accept contactless card payments at any time and from any location with the Smart POS, which is allowed by the Paytm for Business app, which is a single app that can be used to manage all aspects of a business.

Paytm aims to provide smartphones to millions of street hawkers, small traders, MSMEs, tuck-shop operators, and kirana shops.

Merchants must first sign up for the Paytm for Business App, after which they must download the ‘Paytm Smart POS’ app to their Android-based smartphones. Merchants may begin receiving payments from their customers by pressing the card on the back of their smartphones once it has been downloaded. Following that, the payment is successfully received and transferred to the merchant’s account, along with the other QR payments. This allows companies to reconcile their accounts in a single location.

The Paytm For Business app, which is used by over 1 crore merchants, is the only app they need to handle all of their business needs, display all of their transactions in one location, order Paytm QR products, and move payments instantly to their bank accounts at any time. They can also get a variety of business and financial services, such as loans and insurance, among other things.

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