iServeU Partners with PAX Technology to Launch All-in-One Soundbox Terminals for Digital Payments
Mumbai, India - iServeU, a leading digital payment solutions provider, has partnered with PAX Technology, a global leader in electronic payment terminals, to launch an all-in-one soundbox terminal capable of accepting QR-based payments, NFC, and EMV Dip transactions. This strategic partnership aims to drive the next generation of digital payments in India, MENA, and Southeast Asia markets.
As part of the collaboration, iServeU will integrate its proprietary platforms, OCTAHub and iSwara, with PAX to enable the all-in-one soundbox terminal to accept digital payments and play audio notifications. This innovative solution is set to simplify payment acceptance for merchants, offering a range of features including 3-in-1 payment solution, dual interface for security and privacy, built-in soundbox for instant audio notifications, and affordability.
The partnership was announced at the Singapore Fintech Festival 2024, with both companies signing a Memorandum of Understanding (MoU) to launch this product. "We are excited to collaborate with PAX Technology to bring a powerful solution to the Indian and Southeast Asian markets," said Debiprasad Sarangi, CEO of iServeU.
The all-in-one soundbox terminal is priced at a third of standard POS terminals, making it ideal for large, micro, and small merchants across various segments. The demand for innovative soundbox solutions is poised to increase as other countries strive to replicate the success of UPI in India.
"It aligns perfectly with our vision of creating seamless payment experiences," said Sanjeev Sandhu, CEO at PAX Technology India, subsidiary of PAX Technology Limited Hong Kong. "We are confident that our all-in-one soundbox terminal will significantly contribute to the growth of cashless transactions in India and Southeast Asia."
This partnership is expected to enhance digital payment adoption and financial inclusion, as per Tashwinder Singh, MD & CEO of Niyogin Fintech Limited, the parent company of iServeU Technology. The all-in-one soundbox terminal is set to play a significant role in shaping the future of digital payments.
About PAX Technology PAX Technology is a global leader in the development of payment terminals and devices.
About iServeU Technology Pvt. Ltd. iServeU Technology Pvt. Ltd. is a leading Fintech company committed to empowering banks, NBFCs, and Fintech entities with innovative banking solutions.