MUMBAI: Indian fintech giant Paytm has struck a partnership with RBL Bank to provide its signature Soundbox devices and card machines to the bank's merchant partners, the companies announced today.

The collaboration aims to boost digital payment adoption across RBL Bank's merchant network by leveraging Paytm's technology infrastructure. Merchants will gain access to the Paytm for Business dashboard, enabling real-time transaction monitoring and instant settlement services.

Paytm's payment solutions support multiple transaction methods, including UPI, RuPay credit card on UPI, UPI Lite, and traditional debit and credit cards. The systems also offer EMI options from leading banks, providing flexibility for both merchants and customers.

The company's Soundbox devices, which revolutionised in-store digital payments with instant audio confirmations, have been expanded to include NFC Card Soundbox technology. This allows customers to make 'Tap and Pay' transactions at small shops and supports payments from international tourists using global cards.
"Our goal is to simplify payments for merchants by providing cutting-edge solutions that enhance efficiency and trust," said Paytm chief business officer for offline payments Ripunjai Gaur.

RBL Bank head of branch banking and retail liabilities Narendra Agrawal added: "This partnership aligns with our vision of enabling seamless, secure, and efficient transactions. We are committed to supporting businesses in their digital transformation journey."

Paytm has been expanding its service offerings with user-centric innovations, including UPI Lite for small-value transactions and international UPI payments in countries where UPI is accepted, such as the UAE, Singapore, France, and several neighbouring nations.