Which Company Launches First 'Card Soundbox' Enabling Credit, Debit Card Payments?

Daily Current Affairs

Paytm

PhonePe

Skyscanner

Bharti Airtel

Correct Answer : Paytm

Paytm has unveiled the Paytm Card Soundbox, a device that allows merchants to accept both mobile and card payments, including Visa, Mastercard, American Express, and RuPay, through its Soundbox.

This new product will assist merchants in scaling their businesses by offering a "tap and pay" solution via credit and debit cards.

The new in-store payments option also provides audio-based confirmations using Paytm Soundbox. After the successful launch of Paytm Pocket Soundbox and Paytm Music Soundbox, the introduction of Paytm Card Soundbox enhances convenience for merchants.

According to Paytm, the Card Soundbox addresses two critical issues for merchants: accepting card payments and receiving instant audio alerts for all transactions. This device combines the efficacy of a POS unit, UPI QR code card, and even a soundbox confirming the transaction. The combination of Soundbox technology with NFC or contactless debit and credit card payments aims to be the single-point payment method. The device also offers both audio and visual payment confirmations through an LCD display.

Key Features :

* Built-in "tap and pay" functionality for card payments up to â‚¹5,000.
* Powered by 4G network connectivity for fast payment alerts.
* Features a 4W speaker for clear payment alerts.
* Long battery life of up to five days.
* Offers alerts in 11 languages, customizable by the merchant through the Paytm for Business app.
* NFC-enabled smartphone users can make payments using the tap feature.

Vijay Shekhar Sharma, Founder & CEO of Paytm, emphasized the company's commitment to solving payment and financial services challenges for India's small businesses. He stated that Paytm Card Soundbox bridges the gap between mobile and card payments, offering a simple and efficient solution for merchants..

Source : Business Today

Published On : September 6, 2023

Solar’s Ascendance in India :

In 2015, India ranked ninth in solar energy deployment, but by 2023, it produced 5.8% of its electricity from solar, up from 0.5% in 2015. This significant increase underscores India’s commitment to clean energy and its pivotal role in mitigating climate change.

Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

Published On : May 9, 2024

Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

Comprehensive Industry Development Strategy : GTRI Founder Ajay Srivastava emphasized the necessity for a holistic approach to foster the growth of India’s toy industry and bolster exports.

Domestic Ecosystem Strengthening : Developing a robust domestic ecosystem is paramount, alongside measures to encourage renowned global toy brands to establish manufacturing facilities within India’s borders.

Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the Philippines, and France, as the top five remittance recipient countries.

Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024