Credit and Finance for MSMEs: Private sector lender IndusInd Bank launched a 4G Soundbox that provides instant voice-based payment alerts to help merchants with instant confirmation of the digital payment. This will be especially useful for merchants who run a physical store like a kirana shop or a retail store and have started using online payments.
The Soundbox has a dedicated 4G SIM slot compatible across networks for data connectivity. With the proposition of 4G Soundbox, IndusInd Bank aims to extend its reach in digital payments, said the company’s statement.
Read More: GST: CBIC Considering Extending Deadline For Filing GSTR 3B, Know Why
Charu Sachdeva Mathur, Head, Digital Banking and Strategy (Existing Business), IndusInd Bank, said, “we have always believed that the small merchants constitute an integral part of the Indian economy. In keeping with this thought, we are delighted to introduce the ‘IndusInd Bank Soundbox’ that aims to enable lakhs of merchants and retailers to receive instant notification of payments received in their IndusInd Bank account.”
The IndusInd Bank Soundbox will be made available in eleven vernacular languages to notify the merchant every time a customer makes a payment. This Soundbox uses 2600 mAH battery and can give 3000 voice payments confirmation on a single charge.
Read More: Edible Oil Prices Likely to Surge Ahead of Diwali Festive Season; Know More
“This 4G Soundbox will help in building greater confidence amongst merchants in accepting digital payments as they would no longer need to wait to receive the transaction success or statement in the bank app for the confirmation of payments,” stated Mathur adding that the bank focuses to bring products that can accelerate the digital economy shift.
The bank on Wednesday reported a 60 per cent year-on-year (YoY) jump in its net profit for the second quarter of the current financial year to Rs 1,787 crore on account of lower provisions, which declined 33 per cent YoY to Rs 1,141 crore as the asset quality improved.
