ICICI Bank launches digital banking service for retail merchants
April 29, 2021
‘Merchant Stack’ provides banking solutions for the retailer ecosystem
Private sector lender ICICI Bank on Thursday announced the launch of a comprehensive digital banking service that aims to empower over two crore retail merchants in the country.
Called Merchant Stack, it provides a bouquet of banking solutions and value-added services in ‘one single place’ for the retailer ecosystem.
“The main pillars of the stack are a new account named Super Merchant Current Account; two instant credit facilities called Merchant Overdraft and Express Credit — both are based on POS transactions, Digital Store Management facility to help merchants take their business online; exclusive loyalty rewards programme and value added services like alliances with major e-commerce and digital marketing platforms for expansion of online presence,” ICICI Bank said in a statement.