Expanding Soundbox Network Amid Strong Profit Growth

is stepping up its investment in India’s digital payments infrastructure with plans to deploy 10 lakh cloud-based Soundboxes across the country. The initiative comes as the company works to expand its merchant network and increase UPI penetration, while simultaneously showing strong improvement in profitability. Pine Labs announced on September 24 that it will deploy 10 lakh Soundboxes across India as part of a strategic investment in digital payments infrastructure. The cloud-based devices provide merchants with real-time audio confirmation of payments and can be remotely managed and updated. The rollout is aimed at taking digital payment infrastructure deeper into new markets and merchant segments. For Pine Labs, Soundboxes can also act as an entry point to build relationships with smaller merchants and potentially cross-sell other payment, commerce and financial products.