Paytm launches AI soundbox for payments at Global Fintech Fest, shares rise 2.5%

The shares of Paytm jumped around 2.5 percent on October 7 after the fintech company announced the launch of its AI soundbox for payments.

In an exchange filing, Paytm said that it is launching India's first AI business device for small and medium businesses that would help them operate more efficiently and leverage the power of AI in their everyday operations. The new device was unveiled at the Global Fintech Festival (GFF) being held in Mumbai today, where the fintech company showcased how AI can simplify and strengthen everyday business operations for merchants.

What is Paytm AI Soundbox?

The Paytm AI Soundbox includes an AI assistant that can interact with merchants in 11 local languages. It can provide real time insights and answers modeled on the merchants' payments and business performance.

"With this launch, Paytm introduces a new era of intelligent devices for businesses in India, aimed at empowering the country's diverse merchant community across neighbourhood stores, cafés, and retail chains. The built in Paytm Button provides quick access to assistance and key payment updates, helping merchants track collections and manage their business easily through both voice and screen," it said.

What the Paytm AI Soundbox can do?

The soundbox is built on an android based system and has dual displays – a front touchscreen for easy interaction and a top display for instant updates. "It supports dynamic QR, tap, and insert card transactions, delivering an intuitive experience that fits seamlessly into fast paced retail environments. The WiFi connectivity ensures stable performance in indoor locations such as restaurants and supermarkets, while 4G support keeps transactions running smoothly in outdoor or high traffic areas," it said.

'AI can help small businesses scale faster'

Speaking about the launch of the new device, Paytm Founder & CEO Vijay Shekhar Sharma said, "From bringing QR code based mobile payments to innovating the mass scale trust device, Soundbox, we are now entering the intelligence age with multiple AI first products. With Paytm AI Soundbox, we are making the power of AI accessible to small and micro businesses across the country. We believe AI can help small businesses scale faster and enable large enterprises to operate with greater efficiency and intelligence. We remain committed to making AI inclusive, reliable, and safe for everyone to use."

Paytm said India is entering the intelligence revolution, where the power of AI will drive the next wave of growth and help small businesses scale. "As a homegrown fintech pioneer, Paytm is leading the way in making India AI enabled. Through its AI first approach, Paytm is creating technology that builds trust, enhances efficiency, and empowers millions of merchants to operate with confidence and scale sustainably," it added.

Paytm shares rose 2.5 percent to hit an intraday high of Rs 1,254.60 apiece. The stock later pared some gains to trade around 1.4 percent higher in the green at Rs 1,241.20 apiece. The shares have risen more than 11 percent in the past five days, and around 57 percent in the past six months.

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