HDFC Bank launches SmartHub Vyapar for merchants – ‘Kashmir News Trust #KNT
‘Kashmir News Trust #KNT
HDFC Bank announced the launch of SmartHub Vyapar Merchant app, a comprehensive payments and banking solution designed to fulfill the everyday business needs of merchants.
SmartHub Vyapar facilitates instant, digital and paperless merchant onboarding for HDFC Bank customers and allows merchants to accept interoperable payments across multiple payment modes which include Cards – Tap & Pay UPI and QR code. Merchants can also accept remote payments by sending a payment link over mobile or email to facilitate non-face-to-face collections.
Payments received through UPI can be instantly credited to the bank account ensuring merchants get immediate access to sales receipts.
To reduce merchant anxiety around transactions, SmartHub Vyapar has been provisioned with an inbuilt voice feature informing the merchant of successful transactions, doing away with the need to track transactions through any other means including the need to have a separate device to receive voice-based notifications.
On the banking front, merchants can avail banking services like opening fixed deposits, and quick access to pre-approved loans and credit cards. Merchants can also get a real-time view of all Smart Hub Vyapar transactions credited into their bank accounts.
Smart Hub Vyapar enables merchants to make payments to their distributors and vendors. Business expenses like payment of utility bills and GST can also be made through the Smart Hub Vyapar app.
Merchants get 24×7 support through the Bank’s Eva chatbot in addition to support made available via phone banking and the relationship management team of the bank.
SmartHub Vyapar App has been developed by HDFC Bank in partnership with Mintoak Innovations India Pvt. Ltd which is a merchant SaaS platform with a modular product offering to help banks connect with their merchants.
The merchant app was showcased at an event in Mumbai by Parag Rao, Group Head, Payments Business, Digital & IT, Arvind Vohra, Group Head, Branch Banking, Anjani Rathor, Chief Digital Officer, HDFC Bank and Ramesh Lakshminarayanan, Chief Information Officer, HDFC Bank.
“HDFC Bank is committed to support the growth of all merchants from large format chains to local kirana stores,” said Parag Rao, Country Head – Payments, Consumer Finance, Technology & Digital Marketing. “We have crafted the new SmartHub Vyapar app to meet every need of the merchant and bring efficiencies to their banking and business ecosystem. Our aim is to solve problems and difficulties merchants face in their day-to-day business, help them grow their business, deepen our reach across,” (KNT)
