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.
- 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.
Important takeaways for all competitive exams:
- CEO & MD of the HDFC Bank: Sashidhar Jagdishan.
- The tagline of HDFC Bank: We Understand Your World.
- HDFC Bank Headquarters: Mumbai, Maharashtra.