Paytm launches NFC card soundbox with integrated card payment system

One 97 Communications Ltd, the parent company of Paytm, a payments and financial services distribution company in India, has launched the country’s first ‘Paytm NFC Card Soundbox’. This payment device is designed to integrate ‘near field communication’ (NFC) technology with mobile QR payments. This means, the soundbox will also serve as a card payment machine as well as a receipt announcer, which could provide an efficient solution for card payments to millions of offline merchants.