Paytm on February 20 has launched India's first solar soundbox for merchants which can be charged even in minimal sunlight, effectively reducing the electricity costs for small shop owners and other users.
The shares of the company closed 1.43 percent higher at Rs 755.25 apiece on BSE.
Paytm said the solar soundbox would require minimal sunlight for a quick charge that can last the entire day. It comes with a solar panel on top, allowing it to be auto-charged under sunlight. Notably, the device can also be charged with electricity as it comes with two batteries - one that charges with solar energy and another that charges with electricity. The solar battery can provide power for a full day after just 2-3 hours of sun exposure, while the electricity-powered battery can last up to 10 days without recharging, the company said.
"The Made in India Paytm Solar Soundbox is an environmentally friendly solution that uses a low-cost alternative energy source, ensuring that merchants in rural and remote areas as well as places experiencing electricity shortage can be a part of the digital ecosystem," the company added.
Paytm added that the "lightning fast 4G-connected device" is designed specifically for India's small merchants, including hawkers, cart vendors, artisans, craft sellers and other street vendors. The soundbox comes with a 3-watt speaker to ensure high-quality audio payment confirmation even in noisy environment. The device which features QR code for transactions, supports audio notifications in 11 languages, the fintech firm said.
Paytm Founder and CEO Vijay Shekhar Sharma said, "We are committed to empowering India’s small merchants with technology that makes mobile payments seamless and accessible. The Paytm Solar Soundbox is a testament to our commitment to innovation, sustainability, and financial inclusion. With this Made in India device, we continue to pioneer transformative solutions that shape the future of payments in the country."
Pankaj Chaudhary, Minister of State for Finance said, "India's millions of small merchants are at the centre of the growth of the economy. Our government's initiatives are focussed on empowering small merchants with innovations and enabling ease of business for them. The launch of this affordable Paytm Solar Soundbox is a commendable step towards empowering small businesses, especially those in remote areas. This also reflects the vision of a self-reliant and environmentally conscious India."
Earlier in December last year, Paytm had announced the launch of 'Paytm NFC Card Soundbox'—a single device for merchants to accept both card payments (Tap-and-Pay), mobile payments via QR code, along with sound box capability.
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