NPCI plans unified UPI soundbox, threatening fintech rental revenues at kirana counters
NPCI is developing a common interoperable soundbox letting merchants accept payments from any UPI app on a single device. The move reduces hardware duplication for India's kiranas but squeezes Paytm (1.5 Cr subscription merchants) and PhonePe (9.19 Mn devices), whose soundbox rentals underpin offline monetisation as UPI hit 22.35 Bn April transactions.
NPCI is developing a common UPI soundbox for kiranas, threatening Paytm and PhonePe rental revenues that underpin offline fintech monetisation.
Inc42 · 5/18/2026, 6:42:21 AM · Ask about this →