Highlights
- Both devices are capable of accepting payments through tap-and-pay using NFC.
- Card Soundbox is said to offer 4G connectivity and a battery that lasts up to 5 days.
- Pine Labs’ Mini also offers support for QR-based UPI payments in addition to card payments.
Fintech companies Paytm and Pine Labs have introduced a point-of-sale (POS) device capable of accepting payments using both the UPI and credit cards. Paytm’s recently launched device is called Card Soundbox, while Pine Labs’ product is called Mini.
Both devices are capable of accepting payments through tap-and-pay using near-field communication (NFC) technology. However, they are not designed to accept swipe payments. The companies say it aims to target small and medium-sized enterprises (SMEs) with these new devices.
Paytm Card Soundbox and Pine Labs Mini price
The Paytm Card Soundbox is available at a starting price of Rs 999, while Pine Labs’ Mini reportedly costs around Rs 1,999.
Paytm Card Soundbox features
- Card Soundbox enables merchants to accept mobile and card payments using Visa, Mastercard, American Express, and RuPay networks, along with UPI.
- This feature allows for “tap and pay” for payments up to Rs 5,000, which helps merchants expand their businesses.
- The Card Soundbox device comes with a built-in physical keypad and a display that shows the payment amount.
- The device is also connected to the Paytm for Business app, making it simple for merchants to monitor their transactions.
- The device is said to offer 4G connectivity and a battery that lasts up to 5 days.
- Like other Soundbox devices, the Card Soundbox provides an audio confirmation for successful payments.
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Pine Labs Mini features
- The company refers to Mini as a contactless payment device that prioritises QR code payments and card tap transactions up to Rs 5,000.
- The Mini also offers support for QR-based UPI payments in addition to card payments.
- The Pine Labs’ newly launched device includes alerts to confirm successful transactions.
- The device is compatible with UPI transactions and can process payments made with RuPay, MasterCard, and VISA cards.
- Mini is equipped with a display to showcase the QR code and other essential information, along with a physical keypad.
