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HDFC Bank launches SmartHub Vyapar Merchant app for SMEs

Credit and Finance for MSMEs: SmartHub Vyapar app developed by HDFC Bank in partnership with a merchant Saas platform, Mintoak Innovations India is onboarding over 75,000 merchants every month.

HDFC Bank launches SmartHub Vyapar Merchant app for SMEs
SmartHub Vyapar app allows merchants to accept remote payments by sending a payment link over mobile or email to facilitate non face to face collections.

Credit and Finance for MSMEs: HDFC Bank, one of the private sector lenders, announced the launch of SmartHub Vyapar Merchant app, a payments and banking solution for small and medium-sized businesses.

HDFC Bank has developed the SmartHub Vyapar app in partnership with a merchant Saas platform, Mintoak Innovations India that enables merchants to accept interoperable payments across multiple payment modes which include Cards, UPI and QR code. For the non-tech savvy merchants, it also has the option to send a payment link over mobile or email to facilitate a non face to face collection. The bank claims to be adding more than 75,000 merchants every month.

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On the banking front, merchants can open fixed deposits, have quick access to pre-approved loans and credit cards. They can also get a real time view of all transactions credited into their bank account with the help of this app. One of the interesting features of the SmartHub Vyapar is its voice feature that informs the merchant of a successful transaction. 

“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 India and connect with trade hubs. This app brings a vibrant suite of payment, lending and business solutions onto a single platform,” said Parag Rao, Country Head – Payments, Consumer Finance, Technology & Digital Marketing, HDFC Bank

Also Read: Central Govt needs to enhance its tourism budget allocation for Northeast, says MSME EPC

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. Besides that, business expenses like payments to distributors and vendors, payment of utility bills and GST can also be made through the newly launched app.

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