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India is on a fast-track to becoming a digital powerhouse and the adoption of mobile payments has crossed new milestones. Fintech giant <keyword id="6357120" type="General" weightage="40" keywordseo="paytm" source="Orion">Paytm</keyword> has a pivotal role in India’s digital transformation through its innovative and easy-to-use solutions. Paytm pioneered QR Codes that have changed the entire payments landscape, teaching ‘scan and pay’ to millions of users. With the launch of <keyword id="9418617" type="General" weightage="100" keywordseo="paytm-soundbox" source="Orion">Paytm Soundbox</keyword> in 2019, in-store payments got a complete overhaul. Paytm became the first company to introduce audio payment alerts through its iconic Soundbox. This portable device has become a common sight across the country with its audio alerts becoming synonymous with successful transactions. According to Paytm’s Annual Report for FY23, over 13.72 billion online payment transactions were processed through its Soundbox devices in the last one year (April 2022 - March 2023). This is a testament of how Paytm’s innovative device continues to be the leading in-store payment solution in the country. It is also a sustainable business solution as it has helped save paper slips worth 12.07 million pounds in FY23. <cmsannotation type="cmsannotation" annotationid="Paytm Soundbox - The Sound of India’s Growing Economy" comment="subhead" text="Paytm Soundbox - The Sound of India’s Growing Economy">Paytm Soundbox - The Sound of India’s Growing Economy</cmsannotation> Paytm All-In-One Soundbox has created a wave among merchants in the country being the first-ever device that enabled them to easily keep track of payments received from customers through audio payment confirmations. The first-of-its-kind IoT device supports 11 regional languages - English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi and Odia. Paytm Soundbox has significantly reduced customer fraud and risks of false confirmations and building trust between merchants and customers through its devices. Taking its innovations a step further, Paytm recently launched two new 100% indigenous devices – Paytm Music Soundbox and Paytm Pocket Soundbox, further strengthening its payment monetisation. The convenience offered by Paytm Soundbox has taken over the country’s imagination, providing a seamless, instant, and secure payment experience to users. Driving flexibility for users, Paytm Soundbox enables merchants to accept multiple payment methods such Paytm Wallet, Paytm Postpaid (BNPL), Paytm UPI, Paytm UPI Lite, net banking &amp; cards. Paytm Soundbox continues to be the most preferred choice for merchants in the country empowering them with unique offerings such as credit facility, 4G connectivity and cashbacks. Paytm continues to be the market leader in in-store payments, with 82 lakh devices like Paytm Soundbox and Card Machines, deployed at the end of July 2023. The company has added 3.8 lakh devices, crossing a new milestone in in-store payments. As India’s leading payments and financial services company, Paytm ground-breaking innovations have emerged as a disrupter in the mobile payments ecosystem, playing an instrumental role in setting the benchmark for in-store payments in the country. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm Soundbox achieves 13.72 billion transactions in FY23 – reinforcing in-store payments dominance

<ul><li><keyword id="149865" type="PERSON" weightage="20" keywordseo="Chinese-hackers">Chinese hackers</keyword> are increasingly targeting Indian <keyword id="4112095" type="PERSON" weightage="20" keywordseo="Unicorn-Startups">unicorn startups</keyword> like Swiggy, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, Ola and Byju’s to steal sensitive information. </li><li>The motivation is no longer to cause harm to their reputation but to get away with as much user insight as possible without causing too much noise. </li><li>“They are hunting those companies because they have a lot of data,” Kumar Ritesh, the CEO of Singapore-based cybersecurity firm Cyfirma told Business Insider in an interview. </li></ul>Hackers usually follow the money but now they have now set their sights on a new pot of gold at the end of the rainbow — data. And, their newest targets are unicorn startups in India. <div type="Article" hostid="261" msid="76528261" title="Top 20 Indian organisations under threat of attack from Chinese hackers to “teach India a lesson” amid border tension" mstype="2" mssubtype="0"></div> The geopolitical tensions between India and China have led to a surge in cybercriminals trying to infiltrate companies like Swiggy, Paytm, Ola, Byju’s and OYO among others. Singapore-based cybersecurity company Cyfirma has a new platform called DeCYFIR which can spot threats before an attack occurs by analysing conversations across the dark web and hacker forums. Traditionally, cybercriminals have honed in on telecom companies. Jio, in particular, is a crowd favourite. Right now, the names of <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> have started popping up in these hidden corners of the world wide web. And, the frequency only seems to be increasing. Data hungry hackers Cyberattacks on Indian firms by state-sponsored Chinese hackers were primarily driven by the idea of causing damage to the company’s reputation. However, over the last three months, it’s no longer about creating noise. Instead, it’s about getting behind the defensive walls of companies in order to exfiltrate personal, sensitive, and financial information. “A lot of young companies that started five to ten years ago and have grown to become unicorns — who do a lot of customer services, who collect personal information and financial information, and are supplying you with food, education or other things — and they [cybercriminals] are hunting those companies because they have a lot of data,” Kumar Ritesh, the CEO of Singapore-based cybersecurity firm Cyfirma told Business Insider in an interview. Unicorn startups, in particular, are powerhouses of data and intellectual property. Getting access to that data has a wider impact than just taking down their website. Ritesh cited the example of Chinese hackers stealing data from a popular Japanese cosmetics company. They were able to get away with the IP of the company's signature face cream. The cream soon resurfaced under a Chinese brand name — made using the same formula — undercutting the price of the Japanese company by 30%. The uncertainty around Huawei, the ban on Chinese apps in the Indian market along with the investment restrictions are pushing China out of the loop when it comes to data from Indian users. Ritesh believes that the uptake in attacks is not temporary and won’t die down after the coronavirus pandemic. New players are entering the field of cyber warfare, and the digital world is all set to get more combative. SEE ALSO: <a href="https://www.businessinsider.in/science/research/news/red-bricks-dont-just-make-walls-they-can-now-power-your-house-too/articleshow/77486542.cms">Walls can be power banks for houses as red bricks turn into energy-storing batteries</a> <a href="https://www.businessinsider.in/careers/news/it-and-media-employees-are-in-no-hurry-to-get-back-to-office-not-until-there-are-proper-policies-in-place/articleshow/77486082.cms">IT and media employees are in no hurry to get back to office — not until there are proper policies in place</a> <a href="https://www.businessinsider.in/defense/news/india-approves-another-1-2-billion-for-defence-over-and-above-the-5-5-billion-last-month/articleshow/77487432.cms">HAL's share price jumps 4% after India approves defence projects worth $1.2 billion</a>

After Jio, India's unicorn startups are the top target for Chinese hackers trying to get their hands on Indian users' data

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Paytm Soundbox achieves 13.72 billion transactions in FY23 – reinforcing in-store payments dominance

Insider Studios

After Jio, India's unicorn startups are the top target for Chinese hackers trying to get their hands on Indian users' data

Prabhjote Gill

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