Google Pay Is Bringing Paytm-Like Soundpod to Merchants in India for UPI Payments: Report
Google Pay Bringing Paytm-Like Soundpod to Merchants in India for UPI Payments
According to reports, Google Pay is introducing a new product called ‘Soundpod’ that is Paytm-like in functioning, to allow merchants to take advantage of UPI payments options available in India.
What is Soundpod?
Soundpod is a product developed by Google Pay, which is a hardware and software solution that enables merchants to process UPI payments through their mobile phones using sound technology. It makes use of sound waves (ultrasonic) to allow merchants and customers to perform contactless UPI payments.
How does this work?
Google Pay plans to give merchants a Soundpod device to place near the payment terminal. Once the customers enter their PIN code, the sound waves from their phone will be detected by the Soundpod and transmitted to the payment terminal. The customer’s UPI ID will then be confirmed, and the payment will be processed.
Benefits of using Soundpod
Soundpod will allow merchants to offer their customers a more convenient and secure option for UPI payments. It can be used at places where customers may not have access to data or Wi-Fi. Here are some of the benefits that Soundpod offers for merchants:
- Faster and Secure Payments – Soundpod allows UPI payments to be processed quickly and securely.
- Less Risk of Fraud – By allowing customers to perform contactless UPI payments, merchants can reduce the risk of fraud.
- Easy to Set Up – Soundpod devices are easy to set up and can be connected to any payment terminal.
- Cost-Effective – Soundpod is a cost-effective solution for merchants who want to offer their customers a secure and convenient UPI payment option.
Conclusion
Google Pay’s introduction of Soundpod is a move that has been welcomed by merchants in India as it will allow them to provide customers with a more convenient and secure payment solution. It also has the potential to attract more customers to their businesses as they will be able to accept UPI payments with ease.
