PhonePe Unveils ‘Made in India’ 4G Smart Speaker
Walmart-backed PhonePe has unveiled its latest innovation, the โMade in India’ SmartSpeaker, designed specifically for merchants. This wireless speaker enhances the payment experience by providing real-time audio alerts for transactions made through the Unified Payments Interface (UPI). With a battery life exceeding seven days and support for 4G connectivity, the device is set to revolutionize how merchants manage payments, offering features in up to 21 languages.
Innovative Features of the PhonePe SmartSpeaker
The new PhonePe SmartSpeaker retains the popular features of its predecessor while introducing significant upgrades. It includes a celebrity voice feature for voice-based notifications and supports 21 language variants, catering to a diverse range of users. The integration of 4G connectivity enhances network reliability, ensuring that merchants receive timely notifications of payments. Additionally, the SmartSpeaker boasts fast charging capabilities, reaching a full charge in approximately 75 minutes.
According to PhonePe, the device’s battery can last over seven days on standby, making it a practical choice for busy merchants. Similar to other smart speakers, it provides real-time audio alerts about successful UPI payments, helping merchants stay informed without needing to check their devices constantly. Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe, emphasized the product’s role in promoting financial inclusion and supporting local innovation, stating that it allows Indian manufacturers to play a vital role in the country’s digital transformation.
Pricing and Subscription Options
Merchants can acquire the PhonePe SmartSpeaker through two distinct plans. The first option is a monthly subscription plan, which requires a one-time setup fee of Rs. 318, followed by a monthly charge of Rs. 125. This fee is automatically deducted from the merchant’s settlement every 30 days via UPI Autopay. The second option is a zero-rental plan, which involves a one-time setup fee of Rs. 999 and a lower monthly subscription charge of Rs. 25.
PhonePe has clarified that the monthly fee will continue to be deducted until the merchant decides to cancel their SmartSpeaker subscription. This flexible pricing structure aims to accommodate various merchant needs, making it easier for them to adopt this innovative payment solution.
Impact on Merchants and the Market
The introduction of the PhonePe SmartSpeaker is expected to have a significant impact on merchants, particularly in underserved areas. By providing a reliable and user-friendly payment verification system, the SmartSpeaker can help streamline transactions and enhance customer satisfaction. The device’s compact design allows it to fit easily into crowded counter spaces, making it a practical addition to any merchant’s setup.
PhonePe’s commitment to local manufacturing is also noteworthy, as it allows the company to tailor the SmartSpeaker to the specific needs of Indian merchants. This focus on domestic innovation not only supports local businesses but also contributes to the broader goal of digital transformation in India. As more merchants adopt this technology, it could lead to increased financial inclusion and a more robust digital economy.
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