Paytm, India’s leading payments and financial services company, announced today a strategic partnership with RBL Bank to provide its Soundbox and card machines to the bank’s merchant partners.
The shares of One 97 Communications Limited were trading at ₹728.50 up by ₹13.55 or 1.90 per cent on the NSE today at 1.30 pm.
Under this agreement, RBL Bank merchants will gain access to Paytm’s technology infrastructure including real-time transaction monitoring and instant settlement through the Paytm for Business dashboard.
The payment solutions will support multiple payment methods including UPI, RuPay credit card on UPI, UPI Lite, debit and credit cards, along with EMI options.
Paytm’s Soundbox devices provide instant audio confirmations for digital payments, with the NFC Card Soundbox enabling “Tap and Pay” functionality for both domestic and international card transactions. The devices feature multilingual audio alerts in 11 languages.
“Our goal is to simplify payments for merchants by providing cutting-edge solutions that enhance efficiency and trust,” said Ripunjai Gaur, CBO of Offline Payments at Paytm.
Narendra Agrawal, Head of Branch Banking & Retail Liabilities at RBL Bank, added that the partnership aligns with the bank’s vision of enabling seamless and secure transactions while supporting businesses in their digital transformation.
Paytm continues to expand its payment ecosystem, recently adding support for international UPI payments in several countries including UAE, Singapore, France, and Nepal.
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