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Paytm Founder and CEO Vijay Shekhar Sharma showcased the company's Made-in-India Paytm AI Soundbox to Union Minister for Commerce and Industry Piyush Goyal, reaffirming Paytm's commitment to Prime Minister Narendra Modi's vision of Atmanirbhar Bharat.
In a post on X, Sharma wrote that it was a privilege to present the innovation, adding that Paytm is committed to building artificial intelligence for every Indian small shopkeeper. He described the Paytm AI Soundbox as a major step toward making technology and AI more inclusive for millions of small and micro businesses. In his earlier post announcing the product, Sharma wrote, "It takes a lot of time for technology to mature and become magical. AI is there now. When we envisaged AI Soundbox, soon it was clear that it won't be just a payment device anymore. It would rather be like a smartphone in the age of feature phones. QR was like a rotary phone, Soundbox a cellular, and this: a smartphone." He said the device offers "a superhuman capability for small and micro businesses" by turning a payment sound box into a smart and capable business partner. "At Paytm, we are very proud to lead innovations for small and micro businesses in India. Today we bring the perfect AI device for millions of businesses, making technology and AI more inclusive," he posted. The company says, the Paytm AI Soundbox marks the company's next leap after pioneering QR and Soundbox innovations, transforming the counter device into an intelligent assistant powered by payment and business data. It represents Paytm's mission to build Made-in-India technology that is accessible, safe, and inclusive for every business. A recent Emkay Global report reaffirmed Paytm's strong position in the merchant ecosystem, highlighting its omnichannel presence, high-vintage merchant relationships, and deep data capabilities. Emkay called Paytm's leadership in merchant payments a challenge to Pine Labs, noting that Paytm continues to demonstrate product strength and scale through its Soundbox and AI-driven solutions. According to a company statement, with the launch of the AI Soundbox, Paytm reinforces its leadership as India's homegrown fintech innovator, bringing the power of artificial intelligence to millions of shopkeepers across the country. (ANI)
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