India, Feb. 20 -- Fintech major Paytm has launched solar-powered soundbox for merchants, which can be charged quickly in minimal sunlight.

The Vijay Shekhar Sharma-led company claims it to be India's first solar soundbox and will be effective in reducing the electricity costs for small shop owners and other users.

"This innovative device requires minimal sunlight for a quick charge that provides full-day power, enabling uninterrupted payments and reliable, consistent service for India's small shop owners and merchants," the company said in an exchange filing.

The soundbox is aimed at facilitating merchants in rural and remote areas with electricity shortages, it said.

With a solar panel on top, the soundbox can auto-charge under the S...