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Which Bank has launched an one-stop merchant solution app named SmartHub Vyapar Merchant app?
Canara Bank

Correct Answer : Option (D) - HDFC Bank

HDFC Bank, India’s largest private sector bank with dominant market leadership in merchant acquiring business, 6th Oct 2022 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.

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, Mr. 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. “The MSME sector generates the most employment in the country and by empowering this sector we can help empower a large segment of society..

Source : Bfsi

Published On : October 7, 2022
Category : Banking