Paytm cements in-store payments leadership with over 13.72 billion transactions via Soundbox recorded for FY23
Paytm-pioneered QR Codes have changed the entire payments landscape, teaching ‘scan and pay’ to millions of users. With the launch of Paytm Soundbox in 2019, in-store payments got a complete overhaul. Paytm became the first company to introduce audio payment alerts through its iconic Soundbox.
This portable device has become a common sight across the country with its audio alerts becoming synonymous with successful transactions. According to Paytm’s Annual Report for FY23, over 13.72 billion online payment transactions were processed through its Soundbox devices in the last one year (April 2022 - March 2023). This is a testament of how Paytm’s innovative device continues to be the leading in-store payment solution in the country.
It is also a sustainable business solution as it has helped save paper slips worth 12.07 million pounds in FY23. Paytm All-In-One Soundbox has created a wave among merchants in the country being the first-ever device that enabled them to easily keep track of payments received from customers through audio payment confirmations.
The first-of-its-kind IoT device supports 11 regional languages - English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi and Odia. Paytm Soundbox has significantly reduced customer fraud and risks of false confirmations and building trust between merchants and customers through its devices.
