The order includes the supply of payment soundbox devices, software integration and a three-year service and maintenance (S&M) contract. The hardware rollout is targeted to be completed over the next six months, with maintenance services to continue for three years.

The company said the initial deployment lays the foundation for a potential expansion to nearly 33 lakh soundboxes over the next three years, in line with IPPB's long-term rollout plans.

The soundboxes will enable post offices and doorstep banking agents, particularly in rural and semi-urban areas, to accept and instantly confirm digital payments through multilingual audio alerts, enhancing payment convenience and reliability.

CWD added that the order provides long-term revenue visibility through recurring software, platform and maintenance services. The devices will be manufactured at the company's recently expanded 55,000 sq. ft. facility in Mysore, which has tripled its daily soundbox production capacity.

The company said all units will be designed, developed and manufactured in India, with the intellectual property retained domestically, in line with the 'Make in India' initiative.

CWD for Connected Wireless Devices Company is Information and Communication Technology (ICT) based company that designs, develops and sells integrated solutions combining the power of software and electronics.