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.

Boost your General Awareness Knowledge with Adda247 Live Batch: TARGET GA BATCH | SBI Clerk Mains & RBI Assistant Mains Exams

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.

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.

Find More Banking News Here