Fintech

Sound strategy: Payment cos bank on audio devices for monetisation

Pratik Bhakta

December 13, 2022 | 6 Min Read

Paytm’s success with soundboxes forced its rivals to follow suit. Now ubiquitous across India’s retail landscape, soundboxes are being seen as a crucial revenue driver for payments providers looking to turn their massive UPI transaction volumes into cold, hard cash

The first leg of the digital payments race involved onboarding micro merchants through QR codes. Now, we’re well into the second leg—ensuring these merchants continue to transact regularly.

This, ultimately, is what will determine whether all the time, capital, and human resources spent onboarding merchants actually bears fruit. It even opens up new avenues for monetisation, like lending and cross-selling other financial products.

How to keep merchants from falling back into their old cash-first habits, though, is more complicated than getting them to put up a QR code sticker.

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