Amazon pay sound box

As payment majors like PhonePe and Paytm battle out over merchant soundbox, Amazon Pay’s Whole-time Director, Vikas Bansal said Amazon’s app already sends voice notifications to merchants on payments. “While the merchant problem is partially addressed by these voice notifications, we continue to watch the space closely. Our merchant team is on it, to see if there’s a real need for soundbox and if can it solve multiple use-cases,” he added. Bansal noted that launching an Amazon Pay soundbox will not depend on what its competitors have done, instead the company will decide it based on their assessment of the merchant problem. Further, commenting on the existing competition in the digital payments space, Bansal said, “The digital payments opportunity in India is extremely large, and customers are only loyal to a platform till the point it delights them. So our motto is very simple — make our offerings more convenient, trusted and rewarding experience for the customers.” Fragilities in India’s BoP He added that while certain customers have gotten habituated to existing digital payment solutions, he believes there is still a very large segment of India that still pays in cash and stands in queues to pay their utility bills. “We have a long way to go in terms of really penetrating into each of the digital payment use cases,” said Bansal. Smart stores Among its other offerings, Amazon Pay has set up a new format of offline stores called ‘Smart Stores’. In this model, customers ca...

As payment majors like PhonePe and Paytm battle out over merchant soundbox, Amazon Pay’s Whole-time Director, Vikas Bansal said Amazon’s app already sends voice notifications to merchants on payments. “While the merchant problem is partially addressed by these voice notifications, we continue to watch the space closely. Our merchant team is on it, to see if there’s a real need for soundbox and if can it solve multiple use-cases,” he added. Bansal noted that launching an Amazon Pay soundbox will not depend on what its competitors have done, instead the company will decide it based on their assessment of the merchant problem. Further, commenting on the existing competition in the digital payments space, Bansal said, “The digital payments opportunity in India is extremely large, and customers are only loyal to a platform till the point it delights them. So our motto is very simple — make our offerings more convenient, trusted and rewarding experience for the customers.” Fragilities in India’s BoP He added that while certain customers have gotten habituated to existing digital payment solutions, he believes there is still a very large segment of India that still pays in cash and stands in queues to pay their utility bills. “We have a long way to go in terms of really penetrating into each of the digital payment use cases,” said Bansal. Smart stores Among its other offerings, Amazon Pay has set up a new format of offline stores called ‘Smart Stores’. In this model, customers ca...