The company said the rollout is part of its plans to reinvest in the payments ecosystem as new monetisation opportunities emerge.
“We wanted to invest back into the payments ecosystem as new monetisation opportunities emerged,” said B Amrish Rau, CEO of Pine Labs.
He added that sustainable economics and financial inclusion could reinforce each other.
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The soundboxes use a cloud-first architecture and provide merchants with audio confirmation of transactions, according to the company. The devices also support remote management, over-the-air software updates and centralised monitoring.
Pine Labs said the features are intended to allow merchants to manage and expand their payment infrastructure as transaction volumes increase.
The announcement comes as digital payments continue to expand in India. UPI processed 22.35 billion transactions worth ₹29.03 lakh crore in April 2026, with 713 banks live on the platform, according to the India Brand Equity Foundation (IBEF).
IBEF said India’s digital sector is expected to reach $1 trillion by 2030, supported by rising incomes and increasing internet and smartphone penetration. The International Monetary Fund, in a June 2025 report, identified UPI as the world’s largest retail fast payment system by transaction volume.Pine Labs shares fall
Pine Labs shares fell more than 3% in intraday trade on Thursday, extending losses for a second consecutive session.
The decline followed a block deal on Tuesday, September 22, in which 4.97 crore shares, or 4.3% of the company’s equity, changed hands at an average price of ₹188 apiece. The transaction was valued at around ₹934 crore.
CNBC-TV18 had reported on Monday, citing sources, that Mastercard Asia was likely to sell its 4.31% stake in the company via a block deal, with the floor price set at ₹179.5 per share.
The share-price movement is separate from Thursday’s soundbox announcement.