IndusInd Bank launches 4G Soundbox for merchants
By Leandra Monteiro
IndusInd Bank announced the launch of IndusInd Bank Soundbox which aims to provide instant voice-based payment alerts to all merchant customers.
The IndusInd Bank Soundbox will be useful for all merchants who are accepting cash/QR payments with a physical storefront like kirana stores, retail merchants, etc., and will further build confidence in accepting digital payments. The Soundbox also focuses on enhancing the Bank’s reach in digital payments.
The IndusInd Bank Soundbox is a portable speaker that is equipped with a dedicated 4G SIM slot compatible across networks, for data connectivity. The 4G Soundbox will notify the merchant every time a customer makes a payment, helping them to run their business smoothly without the hassle of reading SMS every time a transaction has been made.
Additionally, the Soundbox will be made available in eleven vernacular languages enabling the smallest of the smallest merchants across the country to use this device. This Soundbox also comes with a 2600 mAH battery entailing a better speed and turnaround time (TAT) with 3000 voice payments confirmation, on a single charge.
Speaking about the new proposition, Charu Sachdeva Mathur, Head – Digital Banking & Strategy (Existing Business), IndusInd Bank said, “We have always believed, that the small merchants constitutes an integral part of the Indian economy. In keeping with this thought, we are delighted to introduce the ‘IndusInd Bank Soundbox’ that aims to enable lakhs of merchants and retailers to receive instant notification of payments received in their IndusInd Bank account. This 4G Soundbox will help in building greater confidence amongst merchants in accepting digital payments as they would no longer need to wait to receive the transaction success or statement in the bank app for the confirmation of payments. At the Bank, it has been our constant endeavour to bring forth product propositions that can accelerate the shift to a digital economy.”
With the launch of this 4G Soundbox, the Bank becomes one of the few banks in the country which offer a complete suite of digital payment solutions to the merchants along with digital product offerings and services, thereby catering to the holistic banking needs of the merchants.
IBSi Daily News Analysis
June 02, 2023
How wealth management firms can grow revenues in a declining marketRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage