Premium| Listen to this article |
NEW DELHI: AU Small Finance Bank on Friday unveiled a sound box that will provide instant voice-based payment alerts to merchant partners.
The QR Code Sound Box is aimed at enhancing the bank’s reach in digital payments, AU Small Finance Bank said in statement.
"With an objective for digital innovation, the QR Sound Box will help small merchants to run their operations smoothly without the hassle of reading SMS every time a customer makes a payment," the bank said. AU Small Finance Bank claims to be the first bank to have launched such a product.
The sound box is a portable speaker that is equipped with a dedicated SIM slot for data connectivity, which gives voice notification. It will be made available in five languages - Hindi, English, Punjabi, Guajarati and Marathi.
"This launch will accelerate our Digital India mission and make more financial services available to the underserved. At the same time this product will also ensure customers loyalty to use AU Bank QR and simplify the payment process," said Uttam Tibrewal, executive director, AU Small Finance Bank.
Digital payments major Paytm had introduced a similar feature in March this year, providing merchants instant voice confirmations of payments received through the app.
AU Small Finance Bank has been at the forefront of digital banking innovations among small finance banks. Its paperless services include opening savings account through WhatsApp, offering deposit account variants, such as current account and fixed deposit, on tablets, and end-to-end loan process on two-wheeler loans.
It is the first and only small finance bank to have launched credit cards, it said.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!
