Paytm Partners with RBL Bank to Offer Its Pioneering Soundbox and Card Machines to the Bank's Merchant Partners

Paytm (One 97 Communications Limited), India's leading payments and financial services distribution company and pioneer of QR codes, Soundbox, and mobile payments, has partnered with RBL Bank to strengthen digital payment adoption among the bank's merchant partners. As part of this collaboration, Paytm will provide its Soundbox and card machines to RBL Bank's merchant partners, providing them with easy-to-use and efficient payment solutions.

This initiative empowers RBL Bank's merchant partners to leverage Paytm's robust technology for secure and reliable payments. The integration of Paytm for Business dashboard allows merchants to track transactions in real-time, providing enhanced transparency and operational efficiency. Additionally, Paytm's innovative payment devices support multiple payment modes, including UPI, RuPay credit card on UPI, UPI Lite, debit cards, and credit cards, along with EMI options from leading banks, offering flexibility to merchants and customers alike.

Paytm pioneered the Soundbox, revolutionizing in-store digital payments with instant audio confirmations. Expanding on this innovation, the Paytm NFC Card Soundbox allows 'Tap and Pay' transactions at small shops for debit and credit card users. It also enables merchants to accept payments from international tourists using global debit or credit cards, reducing the dependency on cash. The Soundbox range, including NFC Card Soundbox and QR Soundbox, provides merchants with multilingual audio alerts in 11 languages enhancing trust. Paytm's card machines (EDC devices) further expand digital payment capabilities, offering businesses a secure and efficient way to accept payments. Leveraging Paytm's network of over 17 partner banks, these devices provide low and zero-cost EMI options, allowing customers to pay conveniently in installments.

Ripunjai Gaur, CBO - Offline Payments at Paytm said, "Our goal is to simplify payments for merchants by providing cutting-edge solutions that enhance efficiency and trust. Partnering with RBL Bank allows us to expand the reach of our pioneering Soundbox and card machines, ensuring businesses of all sizes can accept digital payments with ease. With instant settlements, EMI options, and diverse payment methods, we continue to innovate and support businesses in their digital growth journey."

Mr Narendra Agrawal, Head-Branch Banking & Retail Liabilities said, "We are pleased to collaborate with Paytm to offer merchants on our network with advanced and innovative online payment solutions. This partnership aligns with our vision of enabling seamless, secure, and efficient transactions. With innovative offerings like Tap and Pay-enabled NFC Card Soundbox and feature-rich Paytm Card Machines, we are committed to supporting businesses in their digital transformation journey."

Paytm offers user-centric innovations, allowing users to link their bank accounts, create UPI IDs, and make seamless self-account transfers, peer-to-peer transactions, and online and offline payments. It also provides UPI Lite for small-value transactions, RuPay Credit Card linking on UPI, and an auto-pay service, improving the overall payment experience. Expanding its global reach, Paytm now supports international UPI payments at locations where UPI is accepted, including the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.

Source : Equity Bulls

Keywords

One97Communications Paytm Partnership RBLBank Soundbox CardMachines