Paytm unveiled today two 4G enabled payment devices; the Paytm Music Soundbox and the Paytm Pocket Soundbox.

With the Music Soundbox device, merchants can listen to music, hear match commentary, etc, and also get payment notifications on it.

Calls can be taken directly from the phone while the music continues to play. Paytm claims in their announcement that the sound quality of the new device is even better now.

Charging has also improved and with a one-time charge, up to 7 days of battery life is available.

Introducing #Paytm's All-in-One Music Soundbox! Now play music on India's favourite Soundbox directly from your phone. Yes, you read that right! 🎵😉

As India's leading tech innovator, we are proud to launch yet another pioneering and revolutionary device! 🚀#PaytmKaro… pic.twitter.com/NOaYymT4cB

— Paytm (@Paytm) July 31, 2023

The soundbox comes with a no-voice overlay feature. With this feature, music will pause automatically on the merchant’s soundbox and dictate payments as and when they come.

The soundbox supports 11 languages in total. The rent for the new soundboxes will remain between Rs 1 and Rs 150.

A smaller version called the Pocket Soundbox was the other device that was unveiled. This soundbox comes in handy for merchants who deliver products and collect payments from one place to another.

A lanyard tag comes with it to hang so that the merchants can now hang it over and keep it in their pockets.

The Pocket soundbox won’t include a music feature. Merchants will only get payment notifications on it. This soundbox has a torch attached to it. This device provides up to 5 days of battery life with a one-time charge.

Vijay Shekhar Sharma, CEO of Paytm, during the launch of the two devices said that, “The Music soundbox is introduced so that merchants have one device for everything, from payments to music. While for the Pocket soundbox, it is just a smaller version of the one which existed, so that it can be carried to places easily”.

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Today a few hours ago the founder of Paytm Vijay Shekhar Sharma posted a tweet on Twitter. In the tweet, he stated about the issue to Elon Musk that is being faced by many Indian users.

According to him, the Indian user’s accounts have been logged from Twitter automatically and they are not able to login again as the telco users are not able to get the OTP on their number. When they are trying to login the Twitter account then an error is being popped up stating “We cannot send a text message to this phone number because its operator is not supported”

He further stated that an SMS-based OTP delivery alternative is needed as per the official records there is only an 85% success rate.

How people reacted to this tweet?

One of the users Durvesh Korgaonkar replied stating the solution to the issue and suggested changing 2-factor authentication from SMS to App based. And then they would be able to log in without an issue. (It only works if you have already logged in somewhere else). While some users replied that they have also been suffering from the same issues.

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Paytm founder Vijay Shekhar Sharma is no longer a billionaire.

With the share price of one of India’s most storied startups dropping more than 70% from its issue price of Rs 2,150 in the last four months, Vijaya Shekhar Sharma lost the tag of being a billionaire.

The precipitous drop exemplifies the turbulence that the Noida-based company has been experiencing. The Reserve Bank of India (RBI) recently barred Paytm Payments Bank from accepting new customers.

According to Forbes, Sharma’s net worth has dropped to $999 million from a peak of $2.35 billion prior to the IPO listing. Paytm’s parent company, One97 Communications Ltd, will go public on November 18, 2021. Sharma has been losing around Rs 88 crore per day since that day.

The initial public offering raised Rs 18,300 crore for the company. On November 18, it was valued at Rs 1.39 trillion, placing it among India’s top 50 most valuable companies.

But it’s been a downhill slide ever since. The company’s market capitalization has dropped by around Rs 1 trillion, to Rs 4,000 crore. The company is now ranked 112th on the list of the most valuable companies.

The RBI’s prohibition on Paytm Payments Bank from adding new customers pushed the stock even lower. The bank has also been directed to hire an IT audit firm to conduct a thorough system audit of its information technology system.

The ban may not have a significant impact on the listed fintech’s business, but recent developments significantly reduce Paytm’s chances of being upgraded to a small finance bank licence.

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Paytm’s founder and CEO is Vijay Shekhar Sharma. He attended a Hindi medium school and earned his bachelor’s degree from Delhi Technological University. Vijay founded and sold the website indiasite.net for $1 million in 1997. In the year 2000, he launched the online website One97 Communications, which featured everything from news to jokes. Vijay founded Paytm, an e-commerce payment system and financial technology company, in 2010.

Here are the top quotes by Vijay Shekhar Sharma:

• If you don’t give yourself a chance, who will? If you don’t take a chance, who will? and I think you should take a chance on you.
• I think I’ve been lucky that in my life I had to take risks without even thinking of downfalls because I did not start with a lot of things that I could have lost.
• What we’ve changed in this country is that now you don’t need to actually carry a wallet, or a card, or a currency.
• There are two kinds of companies in the world one is who BUILD and the second who BUY.
• I don’t even know English, But here I am as the youngest Indian Billionaire.
• I don’t need to sleep; I am living a dream.
• The Uber of India is Uber. The Google of India is Google. I can sign it on a wall that the Paypal of India will not be Paypal.
• If you’re up against a big guy, ignore the big guy.
• You are what your situations make you.
• I feel like I am in my teens and Paytm is my infatuation.
• When you are hiring, hire them for your vision. Tell them what dream you have and the like-minded will get attracted to it and will join you.
• If you’re not the customer, don’t build it.
• Searching for a business model is equivalent to searching for God.
• As unique you are, you’re part of a crowd.
• The problem with big guys is that they’re not hustlers.
• The big giants (companies ) with the deep pockets (money) never win the war. Microsoft didn’t win the search war. Search didn’t win the social war. Social didn’t win the messaging war.

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According to news agency PTI, Vijay Shekhar Sharma stated today that cryptocurrency is here to stay and is fundamentally founded on cryptography, the study of secure communication systems.

The Paytm founder’s remarks come as the government prepares to propose the cryptocurrency Bill in Parliament on November 29.

According to a notification on the Lok Sabha website, the Bill wants to restrict all private cryptocurrencies in India but will allow specific exclusions to promote the underlying technology of bitcoin and its purposes. The measure also intends to “provide a conducive framework for the formation of the official digital currency to be issued by the Reserve Bank of India.”

In the midst of lightning-fast advancements in the country’s cryptocurrency field, the industry has encouraged investors to remain cool and not jump to conclusions.

Sharma stated that bitcoin is Silicon Valley’s answer to Wall Street during a virtual interactive event hosted by ICC.

“I am quite optimistic about cryptocurrency. It is basically built on encryption and will become a widespread technology in a few years, similar to how the internet is (today) a part of daily life “He stated.

Currently, there are no specific rules or prohibitions on the use of cryptocurrencies in the country. Prime Minister Narendra Modi met with senior officials last week to discuss cryptocurrencies, and there are indications that significant regulatory measures may be enacted to address the issue.

Sharma stated that it is now being utilized speculatively. “Every government is perplexed. It will be standard technology in five years “..

People will see how the world was before crypto, but it will not be a replacement for the national currency, he claims.

Sharma further stated that if Paytm’s income reaches $1 billion, it will be brought to the developed world.

“Paytm now runs Japan’s largest payment system in a joint venture with a Japanese company. We’ll travel without a companion later “he stated

According to him, Paytm, which went public last month, is boosting financial inclusion among Indians who lack access to formal financing.

“Paytm will provide financial services to everyone at a minimal cost. Going public will be extremely beneficial since it will provide access to cash and skills “he explained.

International investors, according to Sharma, have a greater understanding of Indian entities than domestic investors.

“It’s difficult to understand what the government means when it talks about private cryptocurrencies. Bitcoin, Ether, and other public cryptos are based on public blockchains and have their own set of applications “WazirX’s founder, Nischal Shetty, stated.

“They’re required to execute smart contracts and write to the distributed ledger on which they’re based. Fees on the Bitcoin and Ethereum Blockchains cannot be paid with INR or USDT “Nischal Shetty went on to say more.

BuyUcoin CEO Shivam Thakral anticipates the Bill to meet the needs of Indian crypto owners, entrepreneurs, and investors who have put their faith in the country’s crypto growth story.

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The digital payments company Paytm has made its debut in the stock market with the Paytm Listing Ceremony. The Founder, Vijay Shekhar Sharma was seen overwhelmed with tears in his eyes while speaking at the Bombay Stock Exchange on Thursday.

The much-awaited Ceremony was beautiful decorated with blue lighting and matching decor. As the National Anthem played in the beginning, the businessman was seen wiping his tears with a handkerchief while addressing the event in the mother tongue Hindi. He stated that he gets emotional every time he listens to our respected National anthem, “Abhi mere saath yeh ho gaya, kyunki aapne rashtra gaan gaa diya (it just happened to me because you sang the national anthem).”

He stated that the words “bharat bhagya vidhata” in the national anthem overwhelms him. “It just overwhelms me. Just saying these words gets tears in my eyes.”

He added, “People tell me how do I raise money at such high prices, and I just tell them that I never raise money on the price, raise money on purpose.”

Meanwhile, he got the support from his family and friends in his achievements. His son Vivaan assisted him to strike the gong to declare Paytm’s journey now as a listed company. His mother, Asha Sharma also attended the event to encourage him.

Many others businessmen ans investors like Ravi Adusumalli, Managing Partner at Elevation Capital, and Elevation Capital senior executives Mukul Arora and Vaibhav Goel attended the ceremony.The billionaire’s net worth is valued at $2.4 billion according to Forbes and with his dedication he is on the way to achieve bigger.

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