India’s Paytm launches $12 ‘soundbox’ that accepts card payments

BENGALURU: Indian fintech firm Paytm on Monday launched a ‘soundbox’ device that lets merchants accept both mobile and card payments across networks including Visa, Mastercard, American Express and homegrown RuPay.

The launch of the 999 rupees ($12.08) ‘Card Soundbox’, which also provides instant audio payment alerts to prevent fraud, comes as rival Pine Labs announced a similar device at “nearly one-third of the cost of a regular Point of Sale terminal”.