CHENNAI: Google has announced its plans to introduce sound box devices for unified payment of India (UPI) merchants, as its rival in the digital payment- PayTM is battling regulatory crackdown from the Reserve Bank of India and distrust from a section of traders in the aftermath.
Google said its sound boxes will be available for small merchants across India over the coming month and it will be rolled out in phases. Merchants have to choose a plan between Rs 500 and Rs 1,500 for the service.
The company last year launched a pilot of sound box for QR code payments. Participating merchants have shared positive feedback, noting it reduces checkout time, said vice-President of Product at Google Pay.
This move by Google, similar to that of PayTM, to tap into the micro-lending market in India, through its dominance in payments. Google last year announced it is collaborating with its banks and non-banking financial corporations (NBFCs) in India to create credit products.