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Hitachi payment to deploy 30k soundboxes for SBI payments
June 20, 2023
Hitachi Payment Services is in the process of deploying 30,000 soundbox machines to SBI Payments Services and is aiming to garner up to 50% market share of overall point-of-sale (PoS) machines in the next three years, CEO of Hitachi Payment Services’ digital business Anuj Khosla told Fe.
Hitachi Payment Services, backed by Japanese conglomerate Hitachi, is a partner in a joint venture with State Bank of India for SBI Payment Services, where it holds 26% equity stake and rest is with SBI.
“Our soundbox can be customised at a merchant level. Our partner bank can charge VAS (value-added service) fees on a monthly basis from merchants for this customisation. We are deploying 30,000 soundboxes for SBI Payments,” the CEO said, adding that the company is also in talks with other large banks for deployment of customised soundboxes.
Currently, soundboxes only read out loud the completion of transactions, and the amount transferred. Khosla said soundboxes can also have a display wherein merchants can advertise certain products on sale, among other messages.
Further, Hitachi Payments is targeting to expand its market share in the PoS machines to 50% from 25% presently in the next three years.
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