IndusInd Bank launches 4G Soundbox for merchants

IndusInd Bank
  • Standard QR based IOT payment acceptance device which helps with instant confirmation of digital payment in merchant’s IndusInd Bank account 
  • Equipped with a dedicated 4G SIM slot compatible across networks   

India, 20th October 2022:  IndusInd Bank today announced the launch of IndusInd Bank Soundbox that aims to provide instant voice-based payment alerts to all merchant customers. The IndusInd Bank Soundbox will be useful for all merchants who are accepting cash/QR payments with a physical store front like kirana stores, retail merchants etc. and will further build confidence in accepting digital payments.  The IndusInd Bank Soundbox also focuses on enhancing the Bank’s reach in digital payments.  

The IndusInd Bank Soundbox is a portable speaker that is equipped with a dedicated 4G SIM slot compatible across networks, for data connectivity. The 4G Soundbox will notify the merchant every time a customer makes a payment, helping them to run their business smoothly without the hassle of reading SMS every time a transaction has been made. Additionally, the IndusInd Bank Soundbox will be made available in eleven vernacular languages enabling smallest of the smallest merchants across the country to use this device. This Soundbox also comes with a best-in-class 2600 mAH battery entailing a better speed and turnaround time (TAT) with 3000 voice payments confirmation, on a single charge.  

Speaking about the new proposition, Ms. Charu Sachdeva Mathur, Head – Digital Banking & Strategy (Existing Business), IndusInd Bank, said, “We have always believed, that the small merchants constitutes an integral part of the Indian economy. In keeping with this thought, we are delighted to introduce the ‘IndusInd Bank Soundbox’ that aims to enable lakhs of merchants and retailers to receive instant notification of payments received in their IndusInd Bank account. This 4G Soundbox will help in building greater confidence amongst merchants in accepting digital payments as they would no longer need to wait to receive the transaction success or statement in the bank app for the confirmation of payments. At IndusInd Bank, it has been our constant endeavor to bring forth product propositions that can accelerate the shift to a digital economy.” 

With the launch of this 4G Soundbox, IndusInd Bank becomes one of the few banks in the country which offer complete suite of digital payment solutions to the merchants along with digital product offerings and best-in-class service, thereby catering to holistic banking needs of the merchants. 

About IndusInd Bank: 

IndusInd Bank Limited commenced its operations in 1994 catering to the needs of consumer and corporate customers. Since its inception, the Bank has redefined the banking experience for its customers including various government entities, PSUs and large corporations. As on September 30, 2022, IndusInd Bank has a customer base of approx. 33 million, with 2320 Branches/Banking Outlets and 2807 ATMs spread across geographical locations of the country and covering 1,33,000 villages. The Bank has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology that supports multi-channel delivery capabilities. It enjoys clearing bank status for both major stock exchanges BSE and NSE and settlement bank status for NCDEX. It is an also an empanelled banker for MCX. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.  


Domestic Ratings:  

  1. CRISIL AA + for Infrastructure Bonds program/Tier 2 Bonds  
  2. CRISIL AA for Additional Tier 1 Bonds program  
  3. CRISIL A1+ for certificate of deposit program / short term FD program   
  4. IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research  
  5. IND AA for Additional Tier 1 Bonds program by India Ratings and Research  
  6. IND A1+ for Short Term Debt Instruments by India Ratings and Research 

International Ratings:  

  1. Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service  

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Twitter:  @MyIndusIndBank


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