The ICICI Bank has announced the launch of a digital and contactless banking platform, especially for retail merchants. The service, called ‘Merchant Stack’, is targeted at the over 2 crore retail merchants in the country, covering grocers, supermarkets, large retail store chains, online businesses and large e-commerce firms.
About the ‘Merchant Stack’
- Retail merchants can avail the ‘Merchant Stack’ services on InstaBIZ, the mobile banking application of ICICI Bank for businesses.
- The wide range of banking, as well as value-added services, will enable merchants to meet their banking requirements seamlessly so that they can continue to serve their customers in the challenging times during the pandemic.
- The banking services under Merchant Stack will include zero-balance current account, instant credit facilities, ‘digital store management’ facility, loyalty programme, and value-added services like alliances with e-commerce and digital marketing platforms.