<p>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 Rs 999 ($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".</p>.Vijay Shekhar Sharma to buy 10.3% stake in Paytm from Antfin in no-cash deal.<p>Paytm, which competes with players such as Google Pay and Walmart's PhonePe in India, rose to fame as digital payments gained traction after India banned some high-value currency notes in 2016. Every segment of merchants, from vegetable vendors to big showrooms, have started accepting digital payments.</p>.<p>"We have found that merchants and consumers need card acceptance as simply as mobile payments with Paytm QR Code," Vijay Shekhar Sharma, founder and CEO of Paytm said in a statement on Monday.</p>.<p>Pine Labs had said their "price-friendly product" was expected to boost digital payment adoption in India. Companies like PhonePe also make the so-called soundbox, which reads out the amount of money received by the merchant. Paytm shares ended mostly flat on Monday, trimming some losses made earlier in the session. </p>
<p>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 Rs 999 ($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".</p>.Vijay Shekhar Sharma to buy 10.3% stake in Paytm from Antfin in no-cash deal.<p>Paytm, which competes with players such as Google Pay and Walmart's PhonePe in India, rose to fame as digital payments gained traction after India banned some high-value currency notes in 2016. Every segment of merchants, from vegetable vendors to big showrooms, have started accepting digital payments.</p>.<p>"We have found that merchants and consumers need card acceptance as simply as mobile payments with Paytm QR Code," Vijay Shekhar Sharma, founder and CEO of Paytm said in a statement on Monday.</p>.<p>Pine Labs had said their "price-friendly product" was expected to boost digital payment adoption in India. Companies like PhonePe also make the so-called soundbox, which reads out the amount of money received by the merchant. Paytm shares ended mostly flat on Monday, trimming some losses made earlier in the session. </p>