Paytm shares jumped 5% today. Here's why

Shares of One 97 Communications Ltd (Paytm) climbed 5 per cent on Monday after the new age company launched two new devices— Paytm Pocket Soundbox and Paytm Music Soundbox, which is seen boosting its customer base. At present, there are 79 lakh merchants, who are paying subscriptions for Paytm’s payment devices such as Soundbox and Paytm Card Machines.

The stock rose 4.92 per cent to settle at Rs 800.25 on BSE. The company said Paytm Pocket Soundbox can fit in pocket and is as small as a debit card, and empowers merchants who are always on the move with instant audio payment alerts. Paytm Music Soundbox doubles up as a speaker that

issues payment notifications and can also be connected to the phone to play music through bluetooth, Paytm said.

"Paytm Pocket Soundbox is an industry first portable device that comes with all the powerful features of the iconic Paytm Soundbox. The easyto-carry device proudly ‘Made in India’ provides 5-day battery life, 4G connectivity and a torch to keep going even in low-light conditions. This will be helpful for merchants on the go, including cab and auto drivers, electricians, delivery agents, parking fee collectors and cart vendors," Paytm said.

In the case of Paytm Music Soundbox, the device enables merchants to play music through their mobile phones through bluetooth while managing their payment transactions.

"It comes with best in-class 10-day battery life, 4G connectivity and a powerful 4W speaker. There’s also a unique voice overlay feature that enables the merchant to hear payment notifications over the music being played," Paytm said.

To recall, Paytm was the first to launch audio-based confirmations with the Paytm Soundbox.

Founder and CEO Vijay Shekhar Sharma said Paytm Pocket Soundbox and Paytm Music Soundbox are designed to bring convenience to merchants.

"Paytm Pocket Soundbox will be a gamechanger for merchants on the go, while the Paytm Music Soundbox announces

payment alerts, and also solves for a lifestyle experience. With these new devices, we continue to lead technology for small shops of India,” Paytm said.  

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