HDFC Bank boasts to onboard 75,000 SME merchants every month under SmartHub Vyapar app

Mumbai, Oct 8 (KNN) Private sector lender, HDFC Bank claims to be adding more than 75,000 merchants every month through its SmartHub Vyapar app for SMEs.

It has developed this payments and banking solution for SMEs in partnership with a merchant Saas platform, Mintoak Innovations India.

The app enables merchants to accept interoperable payments across multiple payment modes which include Cards, UPI and QR code. 

It also has the option to send a payment link over mobile or email to facilitate a non face to face collection, catering the the non-tech savvy merchants.

Merchants can open fixed deposits, have quick access to pre-approved loans and credit cards. 

With the help of this app they can also get a real time view of all transactions credited into their bank account.

The voice feature informs the merchant of a successful transaction. 

Speaking about the app, Parag Rao, Country Head – Payments, Consumer Finance, Technology & Digital Marketing, HDFC Bank  said, “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 India and connect with trade hubs.”

“This app brings a vibrant suite of payment, lending and business solutions onto a single platform,” said Rao.

The app also comes with a marketing tool helping merchants to broadcast their offers via social media to existing and potential customers and improve sales. 

Through the newly launched app business expenses like payments to distributors and vendors, payment of utility bills and GST can also be made.  (KNN Bureau)