One97 Communications, the parent company of fintech major Paytm, has deployed over 4.5 million Soundbox devices since launching it in 2019.
The Soundbox comes with a small portable speaker that gives merchants instant audio alerts on digital payments in their preferred regional language, including Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi and Odia.
The company processed over five billion online payment transactions through the device last fiscal .
In its monthly operating performance update for last month, the company said 4.5 million devises had been deployed till August.
The Soundbox works with multiple payment methods such as Paytm Wallet, Paytm Postpaid, Paytm UPI and other BHIM UPI apps, net banking & cards, thus, providing more flexibility and convenience to merchants.
"The Soundbox continues to witness phenomenal growth and adoption. Today, it has become the preferred device of merchant partners across the country," said the company's spokesperson.
The device created a wave at launch as it enabled mechants to easily keep track of payments received from customers.
Paytm’s competitors are now following in its footsteps and deploying the device, he said.
In addition to enabling merchants with seamless payments, the device has also helped save paper slips worth 4.43 million pounds in the past one year.
Paytm has been upgrading its solution to further empower merchants with offerings such as credit facility, 4G connectivity and cashbacks.