IndusInd Bank launches ‘Indus Merchant Solutions’

IndusInd Bank, announced the launch of ‘Indus Merchant Solutions’ a comprehensive mobile application (app) to enable merchants, retailers and professionals to carry out banking transactions digitally, on a single platform. The all new application, will enable merchants and retailers to undertake an array of activities such as 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, as well as avail small ticket business loans from the Bank in a completely digital & paperless manner, without having to visit a bank branch.

Any current account holder of IndusInd Bank can instantly download the ‘Indus Merchant Solutions’ app and start using it. A non-customer can even open a current account with the Bank through a fully digitised process, and get themselves registered as a merchant, almost instantly.

Currently, the app is available on smartphones with Android operating systems. It will shortly be available for smartphones using the iOS operating system as well.

Speaking about the new proposition, Soumitra Sen, Head – Consumer Bank, IndusInd Bank said, “We have always believed, that the self-employed segment constitutes an integral part of the Indian economy. In keeping with this thought, we are delighted to bring forth the ‘Indus Merchant Solutions’ app that aims to enable lakhs of merchants, retailers and professionals to meet their banking requirements seamlessly, without having to visit a bank branch. Given the sharp rise in the number of consumers as well as merchants, who prefer transacting online, Indus Merchant Solutions is a holistic proposition that will significantly improve merchant engagement, user experience and convenience, and help us grow our merchant touch points multi fold over the next couple of months.”

Charu Mathur, Chief Digital Officer & Head-Business Strategy, IndusInd Bank added, “At IndusInd Bank, it has been our constant endeavour to bring forth innovative propositions that can accelerate the shift to a digital economy. ‘Indus Merchant Solutions’ is yet another path breaking step in the same direction that will facilitate merchants, retailers and professionals across the country to fulfil their financial needs across payments, deposits and loan products in a completely digital manner, on a single consolidated platform. Going forward, we aim to create more such products and services that can offer our customers with a seamless banking experience.”

The unique features of Indus Merchant Solutions are as follows:

• Single view dashboard :  The app will enable merchants/retailers to view, collect and reconcile payments on a single platform
• Seamless management of payments : Merchants can accept digital payments through multiple modes at any time, from anywhere
• Applicable for over the counter payments and home deliveries: Indus Merchant Solutions is suitable for retail stores where the buyer pays at the counter. It can also be used to collect payment from the buyer during home deliveries, as well as payment-on-delivery instances where the seller and buyer may not be physically present at the same location.
• Consolidated banking platform : The app also provides a consolidated view of all banking relationships across deposits and loans held by the merchant
• Lending functionality :  Merchants can also apply as well as avail small ticket business loans in a seamless manner on the app
• Fulfilling Service requests : Merchants can even place service requests including, but not limited to cheque book requests, reset debit card pins, report discrepancies among others