HDFC Bank launches SmartHub Vyapar app for merchants

India’s largest private sector bank HDFC Bank launched `SmartHub Vyapar’, a payments and banking solution designed for merchants.

Hyderabad: India’s largest private sector bank HDFC Bank launched `SmartHub Vyapar’, a payments and banking solution designed for merchants. It facilitates instant, digital and paperless merchant on-boarding for HDFC Bank customers.

It allows merchants to accept interoperable payments across multiple modes including cards, tap and 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. It was launched in Hyderabad on Thursday by Tarun Chaudhry, Executive Vice President, Head-Branch Banking-South.

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Payments received through UPI will be instantly credited to the bank account. SmartHub Vyapar has a voice feature to tell about successful transactions. On the banking front, merchants can avail services like opening of fixed deposits, access pre-approved loans and credit cards. It allows merchants to broadcast their offers via social media to existing and potential customers.

In addition to accepting payments, SmartHub Vyapar allows merchants to make payments to their distributors and vendors. Business expenses like payment of utility bills and GST can also be made through the app. A 24×7 support through the bank’s Eva chatbot is available in addition phone banking and the relationship management team of the bank.

Chaudhry said the bank has plans to open about 90 branches each in Telangana and Andhra Pradesh in nine months. It now has 314 branches in Telangana and 274 in Andhra Pradesh. This expansion will result in recruitment of about 5,000 people in both the States.