Google Pay SoundPod: All about the new entrant in audio payment alerts

In a recent announcement, Google Pay has introduced a new portable speaker called SoundPod, which is aimed at small merchants. The device is designed to provide audio alerts when a payment is received via QR code. The company has also unveiled the pricing plans for the device, with the aim of offering cashbacks to merchants who actively use the service.

According to Google Pay, the SoundPod will be available for small merchants at a cost of Rs 499 as a one-time fee, with a daily deduction of Rs 5 for 25 days in a month from the merchant’s settlement account. Additionally, the company is offering a yearly plan priced at Rs 1,499, with a Rs 500 savings deducted from the settlement account.

The company has also announced a cashback offer, stating that when a merchant receives 400 payments in a month via GPay QR codes, they are guaranteed a cashback of Rs 125. The cashback can be availed through a scratch card in the “offers and rewards” section, which is valid for 28 days.

It is important to note that only up to 30 transactions from a single user in a calendar month are counted for the campaign eligibility, and failed transactions are not considered eligible transactions. Google Pay’s move comes in the wake of competition from Paytm and PhonePe, both of which are also expanding their portable speaker devices.

Paytm launched its “Paytm card sound box” last year, which is priced at Rs 999 and accepts both card and mobile payments. Meanwhile, PhonePe achieved a milestone with the deployment of over four million SmartSpeakers. The device has a monthly plan with a one-time setup fee of Rs 314, as well as a zero rental plan with a one-time setup fee of Rs 999 and a monthly service fee of Rs 825.

The introduction of SoundPod by Google Pay highlights the growing competition in the portable speaker market, as companies aim to provide innovative solutions for small businesses. This move is likely to benefit small merchants who can now easily track QR code payments through audio alerts, with the added incentive of cashback offers.