BofA research: Paytm Soundbox, first to bring audio-based payments confirmations, dominates the market
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Target price remains unchanged to ₹1,020, with an upside of 20.1%Soundbox is a popular product with smaller shops shows BofA's primary market researchPaytm is India's leading digital ecosystem with 90 mn MTUs and 33.5 mn+ merchantsPaytm, India's leading payments and financial services company and the pioneer of QR and mobile payments, has been racing ahead with its top performance in the Soundbox segment. In its recent report, global brokerage firm BofA has reiterated the dominance of Paytm pioneer product Soundbox. Paytm was the first to launch audio-based confirmations with Soundbox. “We are optimistic on fundamentals and see room for Paytm to scale up aggressively without taking any balance sheet risks. Paytm has key differentiating factors versus peers, and overall competiti...