Pine Labs to deploy 1 million Soundboxes across India

Fintech company Pine Labs has announced plans to deploy 1 million Soundboxes across India to strengthen digital payments infrastructure and expand the reach of UPI. The devices utilize a cloud-first architecture to provide merchants with real-time audio confirmation of transactions. The move comes amid increasing competition from providers such as PhonePe, BharatPe, and Paytm, as well as efforts by the NPCI to develop interoperable soundbox infrastructure.

Following the announcement, Pine Labs shares fell as much as 4.16% on the NSE as investors evaluated the capital requirements for the large-scale rollout.

The company has recently transitioned from a focus on Point of Sale (PoS) devices to a broader AI-powered fintech stack, including online checkout, consumer financing, and banking infrastructure. After a period of expansion through various acquisitions, Pine Labs reported its first full-year consolidated profit of ₹112.5 Cr in FY26, marking a turnaround from a loss in FY25.