We’re sorry, we haven’t sent you any payment (what were you even expecting?👀)
But we are here to talk about payments. THE LOUD ONES!
These days whenever you go to a shop and make a payment after a purchase, remember how the UPI lady announces on a soundbox “Received PayTM payment of rupees whatever”?
That little box with a speaker attached to it that all of us were bamboozled with at the beginning but pay no more attention to, that’s the soundbox we’re talking about!
As multiple companies right now are trying to create their own payment soundbox devices, the brokerage firm Goldman Sachs thinks that PayTM is still dominant in this industry and continues to be the leader.
Being one of the first companies that launched the soundbox, the offline payment sector across India holds Paytm in high regard.
LITERALLY, EVERY SIX SECONDS, A SOUNDBOX IS SOLD IN INDIA. That’s a lot of sounds!
This soundbox has not only made payments easier to track (and of course hear) for retailers and shopkeepers but it also seems like a very sustainable model for companies like PayTM which has more than 5.8 million subscribers for payment devices like Soundbox and PoS.
The company also accounts for 38% of its revenue from these soundboxes, which is a good transition for the company to generate a separate source of revenue.
“With our subscription as a service model, the strong adoption of devices drives higher payment volumes and subscription revenues, while increasing the funnel for our merchant loan distribution,” Paytm said in its Q3FY23 business operating metrics.