India’s Largest Small Finance Bank launched QR Code Sound Box to enhance its reach in digital payments, while making it the first bank to launch such a product.
With an objective for digital innovation, the QR Sound Box will help small merchants to run their operations smoothly without the hassle of reading SMS every time a customer makes a payment. The Bank has already deployed 2 lakhs QR Codes so far, which is also the first of its kind for any Small Finance Bank.
AU SFB QR code sound box is a small and portable speaker for daily payment alerts. It comes with a dedicated SIM slot for data connectivity which gives voice notification. The sound box is available in five languages i.e., Hindi, English, Punjabi, Gujrati and Marathi.
To enhance the access of banking, AU Bank has already introduced many industry-first digital banking initiatives. The Bank is offering paperless services by opening Savings Account through Whatsapp; offering all deposit account variants on tablet including Current Account & Fixed Deposit and providing end-to-end digital journey for those seeking loans on two-wheelers. Furthermore, AU Bank is the first and only small finance bank to launch credit cards. The Bank has also launched AU 0101-super app, which has further simplified banking by offering banking from home with video banking service.
Speaking at the launch, Mr. Uttam Tibrewal, Executive Director, AU Small Finance Bank said, “This launch will accelerate our Digital India mission and make more financial services available to the underserved. At the same time this product will also ensure customers loyalty to use AU Bank QR and simplify the payment process. Our QR Code sound box is another effort by us as changemakers — Badlaav ki Pahal.”