HDFC Bank launches SmartHub Merchant Solutions 3.0 for SMEs

HDFC Bank has announced the launch of “SmartHub Merchant Solutions 3.0” for Small and mid-size enterprises. This solution allows merchants and self-employed professionals to instantly open a current account and start accepting payments in-store, online, and on-the-go.

The Bank plans to reach out to more than 20 million small and medium merchants and professional services like doctors, pharmacies, salons and laundry services across the metro, semi-urban and rural India in the next three years. The merchant solution was launched at a virtual event held in Mumbai by Parag Rao, Country Head – Payments, Consumer Finance, Marketing and Digital Banking at HDFC Bank along with T R Ramachandran, Group Country Manager, India and South Asia, Visa.

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About SmartHub 3.0:

SmartHub 3.0 will be available in app-based, web-based and a range of PoS devices and will have features like digitizing Khata, enabling collection reminders, inventory management, billing software and lending to merchants’ basis their banking.

Key features:

Instant account opening and merchant setup
Payment collection through any mode – Bharat QR code, Aadhaar Pay, UPI, SMS Pay, Credit or Debit Cards, or any app such as Payzapp, Google Pay.
Customise interface in nine languages
Share product catalogue with customers via SMS, email or Whatsapp
View and apply for loan and credit card offers
Single dashboard view of payments and dues across locations
Segment specific Value Added services like inventory management for grocery merchants, EMI for Electronic merchants, billing, inventory and reminders for pharmaceutical merchants to name a few
Merchants can also create their own customer loyalty program on this solution. They can run their own ‘discounts and offers’ for their customers.

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