India's Paytm Launches POS Terminal with Speaker

Paytm, the Indian payments company, has introduced an innovative point-of-sale unit that comes with an unexpected feature: a speaker.

With a user base exceeding 450 million, Paytm’s app offers various services including a digital wallet, peer-to-peer payments using India’s Unified Payments Interface, and credit card facilities. In addition, the company extends its payment solutions to over ten million merchants. This role has propelled Paytm to become one of India’s most recognizable tech brands, thanks to the widespread use of its point-of-sale terminals.

These terminals facilitate payments through methods such as scanning QR codes, tapping mobile devices, or using payment cards.

And now, a new addition to their offerings: an integrated speaker.

Recently launched, the Soundbox from Paytm comes at a price of ₹699 ($8.50, £6.70, €7.80). This innovative device retains all the payment functionalities of Paytm’s existing point-of-sale equipment, while also incorporating a four-watt speaker and Bluetooth capability. This enables merchants to play their preferred audio within their stores. The Soundbox features a battery life of up to five days and can be charged through a USB-C interface.

Beyond entertainment, the device serves a practical purpose, especially in regions where literacy rates are around 65 percent in some states. After a transaction is completed, the volume of the chosen audio temporarily decreases as the speaker announces the transaction’s value and completion in one of eleven languages.

The Soundbox was initially announced in July but has been officially introduced this week. This timing aligns with India hosting the G20 Leaders’ Summit, where discussions about global AI regulations and potentially cryptocurrencies are anticipated. India has been advocating for its digital public infrastructure, a collection of applications that powers its government digital services and is shared with friendly nations free of charge.

As a part of this infrastructure, the Unified Payments Interface (UPI) plays a crucial role. India aims to expand its acceptance beyond its borders. The Soundbox demonstrates another facet of the UPI’s impact, offering a device that allows individuals with limited access to financial services to embrace electronic payments without requiring advanced literacy skills.