India’s largest sector bank HDFC Bank has announced the launch of SmartHub Vyapar Merchant app, a complete payments and banking solution made to meet the needs of small and medium-sized businesses.
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SmartHub Vyapar includes:
For HDFC Bank customers, SmartHub Vyapar enables instant, digital, and paperless merchant on-boarding and enables businesses to accept interoperable payments through a variety of payment methods, including Cards - Tap & Pay, UPI, and QR code. In order to facilitate non-face-to-face collections, merchants can also accept remote payments by sending a payment link over mobile or email.
Merchants can access sales receipts right away because payments made through UPI can be immediately credited to the bank account.
It is no longer necessary to track transactions through any other means, including the need to have a separate device to receive voice-based notifications, thanks to an inbuilt voice feature in SmartHub Vyapar that notifies the merchant of successful transactions. This reduces merchant anxiety about transactions.
Merchants can also get a real time view of all Smart Hub Vyapar transactions credited into their bank account.
Parag Rao, Country Head – Payments, Consumer Finance, Technology & Digital Marketing said, “HDFC Bank is committed to support the growth of all merchants from large format chains to local kirana stores.”
With the aim of assisting merchants in growing their businesses, SmartHub Vyapar has been integrated with a marketing tool that enables merchants to share their offers with both current and potential customers via social media.
In addition to accepting payments, 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.
An extensive market study that revealed the need for a comprehensive payments and banking solution that supports business growth led to the creation of the SmartHub Vyapar platform. By utilising the full power of the Bank's lending, banking, and value-added services in addition to a variety of payment and reconciliation features, the SmartHub Vyapar App is enhancing the efficiency of business operations and assisting merchants in expanding their businesses.
Along with phone banking, the relationship management team of the bank, and chatbot Eva, merchants receive 24/7 support from the bank.
