Paytm, an Indian e-commerce payment system and digital wallet company launched its own wallet i.e., Paytm wallet in 2014. It is being widely used by many users, retailers and more to send/receive money easily. Now, Paytm is testing a nifty new device known as Paytm SoundBox that is aimed to streamline offline payment systems and is tailored for retailers as well as customers. We spent some time with the SoundBox, and here is the first look.
Many people use Paytm to make transactions in shops, petrol pumps, hotels, etc and currently, and they make the payment by scanning the QR code or share an OTP with the retailer to confirm the payment. In this process, the retailer has to share the QR code first, the user makes the payment and then the retailer has to wait until they receive a confirmation SMS on successfully receiving the amount. More often than not, retailers don’t receive the SMS instantly and there is a delay. Paytm aims to solve this issue and streamline the process with the Paytm SoundBox.
What is Paytm SoundBox and how does it work?
Paytm SoundBox is a speaker that will act as a voice-activated POS (point-of-sale) machine for the retailer. Once a user makes the payment by scanning the QR code, the SoundBox will notify the retailer that the payment is completed successfully and this will eliminate the need for a smartphone to receive payments and also eliminates the need for waiting for the SMS. In short, the SoundBox speaks out the amount loudly on a successful transaction like “Received Rs.50 successfully” and this is one of a use case scenario.
Paytm SoundBox is powered by MediaTek MT6261 SoC, which is targeted to be used in IoT devices, and other accessories like entry-level Smartwatch. The SoundBox looks like a typical speaker with the PayTM branding on the front along with speaker grills. The rear of the device has the name and model number along with the usual details. It can take a maximum input of 5V at 1.5A.
Apart from this, the SoundBox also comes with a dedicated SIM slot and will work on 4G connectivity, and will always be connected to the internet in order to manage the payments on behalf of the retailer.
Paytm SoundBox was showcased at the launch of 2nd Edition of MediaTek Technology Diaries in Chennai a few days back, where the company discussed the impact of MediaTek technologies in everyday life and also shared details on its presence across a portfolio of smartphones, routers, IoT devices like Paytm SoundBox and more.
There aren’t many details on what else the Paytm SoundBox could do apart from alerting the retailers on payments and it is to be seen what other features will Paytm add to this device.
A video was also published by RVCJ Media last month in partnership with Paytm and MediaTek featuring a demo of the SoundBox. Check out the video below.
There is no information available regarding the pricing and availability since the device is still in early stages of testing. We will update the post once we get more information.
Srivatsan contributed to this post