{"id":1279392,"date":"2024-02-26T10:02:53","date_gmt":"2024-02-26T04:32:53","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1279392"},"modified":"2024-02-26T10:03:14","modified_gmt":"2024-02-26T04:33:14","slug":"google-pay-offers-soundpod-to-merchants-at-rs-5-day-cashbacks-more","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/google-pay-offers-soundpod-to-merchants-at-rs-5-day-cashbacks-more\/","title":{"rendered":"Google Pay Offers ‘SoundPod’ To Merchants At Rs 5\/Day, Cashbacks & More"},"content":{"rendered":"\n

On Thursday, Google announced that the company is all set to roll out its SoundPod<\/a>, which is a portable speaker designated to instantly validate and announce successful payments, to small merchants across the country in the coming months.<\/p>\n\n\n\n

\"Google<\/figure>\n\n\n\n

Google SoundPod Launch In India<\/strong><\/p>\n\n\n\n

Google Pay appears to be expanding in India and why not as the company is among the mobile payment market leaders in the country.<\/p>\n\n\n\n

But, the sensation is different in the U.S as the firm winds down some of its payments apps there.<\/p>\n\n\n\n

When it comes to the SoundPod, the company began a limited trial last year which received positive feedback during the testing.<\/p>\n\n\n\n

It also helped merchants in reducing the checkout time, said Ambarish Kenghe, the VP of Products for Google Pay,  in a blog post<\/a>.<\/p>\n\n\n\n

Domestically, these miniature jukeboxes, colloquially dubbed \u201csoundboxes\u201d witnessed a wide adoption in India.<\/p>\n\n\n\n

This has also enabled the merchants in finding respite upon receipt of remuneration and contesting any illegitimate claims.<\/p>\n\n\n\n

Facing Its Rivals<\/strong><\/p>\n\n\n\n

So far, the soundbox market is presently dominated by the Financial services firm Paytm.<\/p>\n\n\n\n

 PhonePe is also not behind as it is increasingly expanding its device. <\/p>\n\n\n\n

At present, More than 20 million merchants in India are already using one of these boxes.<\/p>\n\n\n\n

This cost about $18 to $20 according to industry insiders’ estimate.<\/p>\n\n\n\n

But we can not deny that Paytm is currently \u201cfighting for its survival\u201d as it navigates regulatory clampdown, incidentally.<\/p>\n\n\n\n

Initially, these sound boxes were introduced in order to serve small Indian merchants.<\/p>\n\n\n\n

They were unable to afford regular point-of-sale devices while accepting UPI payments. <\/p>\n\n\n\n

Here, UPI is a payments network built by a coalition of retail banks in India.<\/p>\n\n\n\n

Interestingly, it has become the most popular way for payments in India.<\/p>\n\n\n\n

It has become more popular to the extent that Visa, Mastercard and Amex combined last year prompted the payment giants to look at ways to take advantage of their reach.<\/p>\n\n\n\n

The payment method has also evolved into a lucrative subscription model over time considering the fact that various players impose subscription charges on merchants. <\/p>\n\n\n\n

Services Beyond Auditory Alerts<\/strong>
<\/p>\n\n\n\n

The upcoming soundbox has the real allure as it extends beyond its auditory alerts, said one industry insider.<\/p>\n\n\n\n

Further adding that it provides invaluable insights into merchant behaviors, facilitating the offering of loans based on this data.<\/p>\n\n\n\n

When it comes to pricing, Google Pay is offering the SoundPod at a minimal cost.<\/p>\n\n\n\n

It is levying a one-time fee of Rs 1499 for one year, or a one-time fee of Rs 5 per day for 25 days in a month.\u00a0<\/p>\n\n\n\n

The company said merchants who use SoundPod to process 400 payments in a month will get cashback as well.<\/p>\n\n\n\n

Image Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, Google announced that the company is all set to roll out its SoundPod, which is a portable speaker designated to instantly validate and announce successful payments, to small merchants across the country in the coming months. 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