IndusInd Bank has launched ‘Indus Merchant Solutions,’ a comprehensive mobile application (app) that allows merchants, retailers, and professionals to conduct digital banking transactions on a single platform.
Merchants and retailers will be able to accept instant cashless payments on mobile phones from customers through multiple digital modes, track inventory via in-built dashboards, apply for an exclusive Point of Sale (PoS) machine to facilitate card-based payments, and apply for small-ticket business loans from the Bank in a completely digital and paperless manner, all without having to visit a bank branch.
Any IndusInd Bank current account holder can download and use the ‘Indus Merchant Solutions app right away. A non-customer can even open a current account with the Bank using a fully digitised process and receive the same benefits as a customer.
Currently, the app is only accessible for Android-based handsets. It will be available for devices using the iOS operating system in the near future. Any IndusInd Bank current account holder can download and use the ‘Indus Merchant Solutions app right away. A non-customer can even open a current account with the Bank using a fully digitised process and receive the same benefits as a customer.
“We have always thought that the self-employed group is a vital component of the Indian economy,” said Soumitra Sen, Head – Consumer Bank, IndusInd Bank. In keeping with this philosophy, we are pleased to introduce the ‘Indus Merchant Solutions’ app, which seeks to make it possible for lakhs of merchants, retailers, and professionals to satisfy their banking needs without having to visit a bank office. Indus Merchant Solutions is a comprehensive offering that will dramatically increase merchant engagement, user experience, and convenience, and enable us to grow our merchant contact points multiple times, given the fast surge in the number of customers and merchants who prefer transacting online.
“At IndusInd Bank, it has been our ongoing endeavour to bring forward creative solutions that will expedite the transformation to a digital economy,” said Charu Mathur, Chief Digital Officer & Head-Business Strategy.
‘Indus Merchant Solutions’ is another ground-breaking move in the same way, allowing merchants, retailers, and professionals across the country to meet their financial needs in a totally digital manner, on a single unified platform, across payments, deposits, and loan products. We want to produce more of these goods and services in the future so that our consumers may have a smooth banking experience.”
The following are some of Indus Merchant Solutions’ distinguishing characteristics:
- Single view dashboard: Using the app, merchants and retailers will be able to see, collect, and reconcile payments on a single platform.
- Streamlined payment processing: Merchants may take digital payments in a variety of ways at any time and from any location.
- Suitable for in-store payments and home deliveries: Indus Merchant Solutions is appropriate for retail establishments where customers pay at the counter. It may also be used to collect payment from the customer during home deliveries and payment-on-delivery situations where the vendor and buyer are not physically present.
- Consolidated banking platform: The software also gives the merchant a consolidated view of all banking connections, including deposits and loans.
- Lending functionality: Merchants may use the app to apply for and receive small-ticket business loans in a simple manner.
- Fulfilling Service Requests: Merchants can also make service requests, such as requesting cheque books, resetting debit card pins, and reporting inconsistencies, among other things.
- Platform for consolidated banking: The software also gives the merchant a comprehensive picture of all banking interactions, including deposits and loans.
