- Both Paytm and Pine Labs PoS devices support tap-to-pay for card payments.
- These are aimed at small businesses and are very affordable to own.
- Paytm’s box starts at Rs 999 and Pine Labs says its device will cost one-third of the cost of a regular PoS device.
The introduction of UPI has increased the digital payment adoption rate significantly in India. It has become such an integral part of our daily lives that many consumers do not even carry cash around. Paytm’s soundbox devices helped it become mainstream by making it easier for small businesses to accept payments. Now, it is taking the digital payments experience to the next level with the launch of a new PoS (point-of-sale) device called Card Soundbox. It is a device that supports both UPI and card payments. Interestingly, Pine Labs also introduced a similar device called Mini earlier today.
Paytm Card Soundbox Features
Paytm’s Card Soundbox is the newest member of the company’s soundbox family. It joins Pocket Soundbox, Music Soundbox, and the original Soundbox devices available in the market. The latest release is unique in the way that it is a single device that supports both UPI and card payments.
The Card Soundbox has a QR code scanner at the top and a tap-to-pay card payment terminal at the bottom. Customers can scan the QR code if they wish to pay via UPI and tap on the card terminal if they wish to pay via card. Paytm says the device supports contactless payments via RuPay, VISA, and MasterCard cards.
The device has a built-in physical keypad and a display to show the amount. It is integrated with Paytm for Business app so that merchants can easily track transactions. Paytm Card Soundbox has 4G connectivity and a 5-day long-lasting battery life. Just like other Soundbox devices, it will play an audio confirmation for successfully received payments. It supports 11 Indian languages for wider accessibility and starts at Rs 999. This makes it quite affordable even for small businesses.
Pine Labs Mini Features
Pine Labs, a leading platform for PoS devices, has launched its own 2-in-1 PoS device called the Mini. It comes with support for both QR-based UPI payments and card payments including audio alerts. It is quite compact in size which makes it portable to carry around and also explains the name.
The device supports UPI transactions and card payments through RuPay, MasterCard, and VISA cards. It has a display to show the QR code and other relevant information. You get a physical keypad as well. The company has not revealed exact pricing details but said it would cost one-third of the cost of a regular PoS device. It further added customers will be able to use the Mini very soon at a counter nearby.
Reliance Jio is reported to be working on its own soundbox device. It will work similarly to Paytm soundboxes and will work for payments done on Jio Pay. It is currently in the internal testing phase where a few employees of the company are using it and sharing feedback. It is currently unknown when we can expect to see in the market.