IndusInd Bank launches ‘Indus Merchant Solutions’ app

Posted on Wednesday, November 17th, 2021 | By IndusInd Bank

IndusInd Bank launches ‘Indus Merchant Solutions’, a one-stop mobile app for merchants

• Enables merchants to manage/accept digital payments through multiple modes at any time, from anywhere
• Offers retailers a consolidated dashboard to view all banking relationships across deposits and loans

Mumbai, November 17, 2021: IndusInd Bank today, 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, Mr. 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.”

Ms. 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 the ‘Indus Merchant Solutions’ app 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.

The ‘Indus Merchant Solutions’ app currently has English as its default user interface language, but will soon be made available in multiple languages including Hindi, Marathi, Bengali, Gujarati, Telugu, Tamil, Kannada, Malayalam, Punjabi and more.

About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on September 30, 2021, IndusInd Bank has 2,015 Branches/Banking Outlets and 2,886 ATMs spread across 760 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges – BSE and NSE – and major commodity exchanges in the country, including MCX, NCDEX and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.

RATINGS Domestic Rating(s):

• CRISIL AA + for Infra Bonds program/Tier II Bonds
• CRISIL AA for Additional Tier I Bonds program
• CRISIL A1+ for certificate of deposit program/short term FD programme
• IND AA+ for Senior bonds program/Tier II Bonds by India Ratings and Research
• IND AA for Additional Tier I Bonds program by India Ratings and Research
• IND A1+ for Short Term Debt Instruments by India Ratings and Research

International Rating(s):

• Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service

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