Google to challenge Paytm and PhonePe in UPI payments market with new Soundpod device

Google is entering the race of UPI payments with the trial of its Soundbox in selected places in India. According to a report by TechCrunch, the company has named it Soundpod by Google Pay and is distributing it in North India, including New Delhi. The Soundpod is being given to Google Pay merchants without any additional cost and a time frame is set for giving the device to another merchant.

UPI payments have seen a rapid increase in usage and the Soundpod is a device that helps merchants keep track of UPI transactions. It features a built-in speaker that confirms UPI payments in multiple languages, an LCD screen that shows payment amount, battery and network status, and manual controls. It also features a QR code in front of the device which registers the merchant's phone number with the bank.

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Paytm and PhonePe are already providing soundboxes to their merchants. The soundbox is a benefit to both the user and the merchant as it issues a voice alert when a payment receipt message is received. With this, the user is alerted of the transaction and the merchant can keep track of all transactions.

Google is a big player in the internet market and India is the second-largest internet market in the world. However, Google is facing challenges in India currently, with the government keeping an eye on the dominant position of its Android system, and fines have been imposed on the company.