Paytm has launched the new Internet of Things based payment devices, the Soundbox 2.0, and the Paytm Smart POS for Android smartphones. Paytm said its Soundbox 2.0 device is powered by the company’s all-in-one payments and reconciliation technology that serves as an advanced solution for receiving confirmation of the amount transacted.
The Soundbox 2.0 comes with a display that can show the payment summary for the day. Apart from instantly showing the payment made, the device also provides for voice-based responses as well. For instance, the device can play a message like the following when the business hours have ended: ‘Today’s summary 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.’
The Soundbox 2.0 currently supports five languages – English, Hindi, Tamil, Telugu, and Kannada. That no doubt is extremely important in a multi-lingual country like ours. Paytm said it plans to include more languages in the future, with Marathi language support coming within the next few months itself. Maybe the ability to translate one language to another will be an added plus, something that would be a boon to travelers.
For power, the Soundbox 2.0 comes with its own source in the form of a 2000 mAh battery. It will also notify the users if the power is running low. There is a SIM card slot too and does not rely on a Wi-Fi connection for its operation.
Coming to Paytm Smart POS, it’s something that business owners will need to download on their Android phones. However, before that, the businesses will have to log in to the Paytm for Business app. Once that is done and the Paytm Smart POS installed, their Android phones will be able to accept payments via credit or debit cards similar to EDC machines.
Paytm said they have actively collaborated with some of the leading financial services companies like Visa and MasterCard to ensure transactions via Smart POS can be done smoothly using credit or debit cards. Support for Rupay cards is going to be added soon. The company said they plan to equip businesses with five million of its IoT devices over the next five years.