Google Pay has unveiled a new offering, SoundPod, aiming to enhance payment experiences for small merchants and potentially challenging competitors like Paytm and PhonePe.
SoundPod is a portable speaker designed to assist merchants in tracking QR code payments through audio alerts upon receiving payments. When customers scan the merchant’s QR code and complete a successful transaction, SoundPod emits an instant voice notification.
Under the pricing plans, merchants can opt for either the daily plan, costing Rs 499 initially and then Rs 5 per day for 25 days, or the yearly plan, priced at Rs 1,499, offering a Rs 500 savings.
According to Google Pay, merchants stand to benefit from cashback incentives, with a guaranteed Rs 125 cashback upon receiving 400 or more payments via GPay QR codes in a month.
To avail of cashbacks, merchants must actively use the SoundPod for audio notification services and accept a minimum of 400 transactions via GPay QR codes. Cashbacks are provided through scratch cards worth Rs 125, available in the “offers and rewards” section, valid for 28 days.
However, only up to 30 transactions from a single user per month are eligible for the campaign, and failed transactions are excluded.
With this move, Google Pay appears to be challenging the dominance of Paytm and PhonePe in the portable speaker market. Paytm had introduced the “Paytm card sound box” last year, while PhonePe boasts over four million SmartSpeakers deployed.
PhonePe offers merchants monthly plans with setup fees and subscription charges, presenting options for both rental and zero-rental plans.
