SAURABH SINGH’s Post

Jio is stepping into the world of online payments with its new Jio Soundbox. Similar to Paytm Soundbox, the company will give tough competition to Paytm, PhonePe, Google Pay, etc. They've been testing the Jio Soundbox, which uses new technology, and it will soon be available in stores. Jio's move comes at a time when its competitors are facing some challenges. For example, Paytm Payment Bank had a temporary issue, even though its payment services are still working fine. Jio entering the UPI payment market has caught many by surprise and is making the competition tougher. Jio's goal with this move is to grab a big part of India's growing online payment business. They're being strategic and trying to be a major player in this digital payment world. Will this move be another revolution like Jio sim, or will other UPIs still have major dominance? What do you think?

Jio is stepping into the world of online payments with its new Jio Soundbox. Similar to Paytm Soundbox, the company will give tough competition to Paytm, PhonePe, Google Pay, etc. They've been testing the Jio Soundbox, which uses new technology, and it will soon be available in stores. Jio's move comes at a time when its competitors are facing some challenges. For example, Paytm Payment Bank had a temporary issue, even though its payment services are still working fine. Jio entering the UPI payment market has caught many by surprise and is making the competition tougher. Jio's goal with this move is to grab a big part of India's growing online payment business. They're being strategic and trying to be a major player in this digital payment world. Will this move be another revolution like Jio sim, or will other UPIs still have major dominance? What do you think?

As Paytm faces challenges, PhonePe and Google Pay step up to redefine the future of digital transactions in India. PayTm was once the pioneer in the Indian digital payment space, But its recent setbacks have undoubtedly created a ripple effect in the industry. As RBI has asked One97 Communications to halt its operations by 29 Feb. However, amidst the challenges Paytm faces, competitors like PhonePe and Google Pay are poised to capitalize on the shifting landscape. With Paytm's focus being diverted due to regulatory hurdles and operational challenges, PhonePe and GPay have a chance to strengthen their market positions. They can leverage this opportunity to innovate, enhance their services, and capture a larger share of the market. PhonePe, known for its user-friendly interface and seamless transactions, can further solidify its position by investing in technology and expanding its user base. Similarly, GPay, with its widespread reach and integration with other Google services, can explore new partnerships and features to attract more users. Furthermore, Paytm's loss may prompt customers to explore alternative digital payment platforms, allowing PhonePe and Google Pay to showcase their reliability, security, and convenience. How do you see RBI’s action on the PayTm Payments Bank? What would you prefer from PhonePe and GPay? #paytm #financialanalysis #googlepay #phonepe #opportunity

🚨Jio is all set to make another move to acquire a sizeable share of India's digital payment market.👇👇👇 Paytm is already facing some tough times lately, especially after the Reserve Bank of India (RBI)'s ban on Paytm Payments Bank affecting its share in the UPI market. Now, Jio is eyeing a bigger share of the market which may give Paytm a run for its money!😟 Jio, already a big name in the telecom world, is gearing up to enter the UPI space with its own offering called Jio #Soundbox, which sounds a lot like Paytm's Soundbox that we often encounter in stores for payments. Paytm's UPI market share took a hit recently, dropping to 11% in February from 13.6% in September, and it's facing even more challenges ahead. Starting March 15th, Paytm will operate as a third-party application provider (TPAP) like its rivals PhonePe and Google Pay, rather than as a payments bank app. This shift might further impact Paytm's standing in the #UPI sector. Jio's move into UPI payments builds on its existing JioPay App, incorporating Soundbox technology to expand its reach. The Jio Soundbox is already in trial phases and is set to roll out in retail locations soon. By entering the digital payments game, Jio is positioning itself against established players like Paytm, PhonePe, and Google Pay, and it's sweetening the deal by offering enticing incentives to shop owners, which could make it even more attractive.🫴 The announcement of Jio's UPI venture has taken many by surprise, but it's clear that Jio is serious about competing in India's digital payment sector. With its focus on #innovation and expansion, Jio wants to take a big chunk of the growing digital payment ecosystem by making use of its current infrastructure and technological prowess.💪 According to recent data from the National Payments Corporation Of India (NPCI), UPI transactions hit a whopping Rs 18.28-lakh crore in February 2024, with 1,210 crore transactions processed. So, it's definitely a hot market with plenty of potential for players like Jio to make their mark! But, I see this as a win-win situation for consumers and businesses alike. With more players vying for attention, we can expect to see a surge in innovation, better services, and perhaps even more enticing incentives for users. 🎁 Can Jio dislodge Paytm as the leader in the soundbox market?🧐 Follow Amit Mishra for more such insightful content! #startups #fintech #digitalpayments #upipayments

UPI payments are gearing up day by day. The competition is tough. Let's understand how these companies have been doing and how Jio will place itself in the market. Paytm is in trouble at the moment as everyone knows. Paytm on the side was earning revenues through Soundbox. Let's understand how Jio has strategically positioned itself in the market. Jio Payments is getting ready to join the soundbox market, where devices like speakers can process payments and give voice confirmations. Paytm started this trend with their soundbox, which costs ₹300 to buy and ₹125 per month to use. They've sold a whopping 8.2 million of these devices and handled 13.72 billion transactions in FY23! Seeing how successful Paytm's soundbox was, PhonePe also launched its version, priced at just ₹1 upfront and ₹49 per month. But Paytm had a head start of 2 years, giving them a big share of the market. Merchants prefer using one type of soundbox, so Paytm is leading with an 85% merchant loyalty rate. Soundboxes are popular among 20 million merchants in India, with Paytm and PhonePe in the lead. Jio is entering the scene just when Paytm is dealing with some issues. Paytm's soundbox costs ₹1 to buy and ₹125 per month, while PhonePe's is ₹49 monthly. Jio's pricing is still a mystery, but experts think it could shake things up. Keep an eye out for updates on Jio's soundbox launch and how it changes digital payments! Looking at how Jio has launched in the market concerning Sim cards, Data plans, and other services, it seems they'll come with a FREE offer and catch the market share. Let me know what you think. #marketdisruption #jiopaymentbank #paytmcrisis #foodforthought #jio #mukeshambani #businessidea

Jio Sounds the Charge in UPI Payments Hold onto your wallets, India! Mukesh Ambani's Jio is reportedly gearing up to challenge the dominance of Paytm, PhonePe, and Google Pay in the digital payments arena with their new weapon: the Jio Soundbox. Sounding Familiar? A New Take on an Existing Play The Jio Soundbox isn't exactly reinventing the wheel. Similar to Paytm's offering already found in many stores, it's a device designed to streamline UPI payments for merchants. But here's the twist: it integrates seamlessly with Jio's existing Jio Pay app, aiming to leverage their established user base. Testing, Testing... Ready for Launch? Jio isn't wasting any time. The trial phase for the Jio Soundbox is already underway, hinting at an imminent rollout across retail outlets. This swift move comes at a strategic time, considering recent stumbles faced by competitors like Paytm (it's important to note, the Paytm Payment Bank suspension doesn't affect their UPI services). Sweetening the Deal: Jio's Allure for Merchants Jio reportedly plans to entice shop owners with attractive incentives to adopt the Jio Soundbox. This strategy could significantly boost their market presence and disrupt the current landscape. The Battle Heats Up: Who Will Win the Digital Rupee Race? Jio's entry into the UPI space promises to shake things up. With established players like Paytm, PhonePe, and Google Pay already vying for dominance, the Indian digital payments scene is about to get even more exciting. Buckle up, because the battle for the digital rupee is about to intensify! #jio  #paytm  #mukeshambani  #merchants  #upi  #payments  #india  #indianstartupnews

PhonePe Surpasses Paytm in Monthly Active Users Amidst RBI Actions #PhonePe #Paytm #RBIActions #DigitalPayments Content: 🔝📱 Exciting update in the realm of digital payments! PhonePe has taken the lead over Paytm in monthly active users, showing a 20% surge to 11 million MAUs while Paytm saw a 20% slump to 9 million MAUs. This shift comes after recent RBI actions that impacted Paytm's user base significantly. 🏦📈 With over 37 million registered merchant bases each, the competition is intense! 🚀📱🔝 PhonePe's dominance extends from merchant apps to consumer-facing UPI payments, capturing nearly 50% of the market share. Users are favoring PhonePe, with its efficient offerings for both consumers and merchants. 🛒🔄 Notable trend among Kirana stores shifting away from Paytm post-RBI actions towards alternatives like PhonePe, BharatPe, and GooglePay. A survey revealed that over 40% of Kirana outlets have transitioned, expecting this shift to continue. 💰💡 Stay informed on the evolving digital payments landscape! #DigitalTransformation #CashlessPayments #FintechRevolution #ChoosePhonePe

It would be inaccurate to call retail payments on India’s paramount United Payments Interface (UPI) rail a full-fledged duopoly, but Google Pay and Walmart-backed PhonePe do dominate this market with a combined 86% market share. PhonePe currently has a 48.3% share of UPI retail payments, while Google Pay has 37.6%. Paytm has a share of about 9%. No other company even has a full 1% share of the UPI market. #india #google #walmart #payments https://hubs.li/Q02vgJMm0

As per our latest #1LatticeAnalysis through Pulse product, UPI transactions witnessed a significant 51% increase by volume and 41% by value of such transactions in Jan’24 on Y-o-Y basis. PhonePe led the market share with 46.7% by volume and 48.8% by value, followed by GooglePay, and Paytm. Follow 1Lattice for regular updates on the #UPI transactions! #EnablingBetterDecisions #UPI #PhonePe #Paytm #GooglePay #UPITransactions Amar Choudhary Hitesh Gossain Abhilasha Jaju Harsh Salgaonkar Praneet Singhal Roma Dixit

A few years back, we were using cash for offline store payments. Then came Paytm with its one-of-a-kind revolutionary product, the Paytm soundbox, which completely changed the way we make payment at offline stores. So, adding to the innovation, Paytm has further improved its product by enabling additional functionality of allowing payments by way of NFC transfer. The NFC soundbox enables the customer with the flexibility of choosing their preferred mode of payment which was earlier restricted to just UPI, but latest product innovation breaks that barrier and enables NFC payment through all credit and debit cards. This new iteration of Paytm's iconic soundbox is undoubtedly a big one. What can be the next evolution of soundbox be? Maybe, a voice operated soundbox with a digital screen enabling custom amount payment along with features like checking transaction history, while also providing insights on sale trends and peak hours. #innovation #productmanagement #marketing #imthobserves #UPI #Paytm #NFC #offlinepayment #digitalIndia Paytm Vijay Shekhar Sharma Pranav Girdhar Reshal Sanduja Manu Thomas Neha Awasthi Parveiz Lone Vinay Bhandari Khushboo Gadhia Mohit Sharma Kanwaljeet Kathait Pranay Sindhu (Ph.D)