HDFC Bank launches SmartHub Vyapar for merchants. HDFC Bank, India’s largest private sector bank with dominant market leadership in merchant acquiring business, today 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 on-boarding 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 of fixed deposits, 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 account. With an objective of supporting merchant to expand their business, SmartHub Vyapar has been embedded with a marketing tool which empowers merchants to broadcast their offers via social media to existing and potential customers.
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.