The partnership aims to advance next-gen digital payments across India, MENA, and Southeast Asia. Credit: ViDI Studio/Shutterstock.

Digital payment solutions provider iServeU has collaborated with electronic payment terminals provider PAX Technology to launch an all-in-one soundbox terminal supporting QR payments, NFC, and EMV Dip transactions.

The companies signed a memorandum of understanding (MoU) to launch this product and invest in research and development (R&D) to boost financial inclusion and digital payment adoption.

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This partnership intends to advance next-generation digital payments in India, Middle East and North Africa (MENA), and Southeast Asia.

Under the alliance, iServeU will incorporate its OCTAHub and iSwara platforms with PAX, allowing the all-in-one soundbox terminal to accept digital payments and play audio notifications.

PAX Technology India CEO Sanjeev Sandhu said: “This partnership with iServeU aligns perfectly with our vision of creating seamless payment experiences.

“We are confident that our all-in-one soundbox terminal, equipped with UPI, NFC, and EMV capabilities, will significantly contribute to the growth of cashless transactions in India and Southeast Asia.

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iServeU’s payment platform, OCTAHub, is used by various Indian banks, including NSDL Payments Bank, Kotak Mahindra Bank, India Post Payments Bank, and UCO Bank.

The all-in-one soundbox terminal offers a suite of features, including a three-in-one payment solution for QR Code, Chip, and Tap payments;

It also includes dual interfaces for merchant and customer privacy, as well as a built-in soundbox for instant audio transaction confirmations.

iServeU Technology parent company Niyogin Fintech managing director and CEO Tashwinder Singh said: “This partnership marks a significant step towards realizing our vision of leading the soundbox and POS market.

“By investing in cutting-edge payment solutions, we’re poised to meet the evolving needs of merchants and consumers.”