ICICI Bank made a big announcement for retail traders! Overdraft facility up to 25 lakhs will be available without paperwork

ICICI Bank has introduced merchant stakes for digital banking services for retail traders. Under this, shopkeepers will also get Value Added Services (VAS), including banking services. Retail businesses can get these facilities instantly through the InstaBiz App.

New Delhi. Private sector ICICI Bank has made a special offer related to digital banking services for retail traders. The bank has introduced merchant stakes for retail merchants. Under this, shopkeepers will also get Value Added Services (VAS) along with all banking services. Due to this, even in the era of Corona epidemic, the shopkeepers will not have any problem in dealing with customers. Shopkeepers can avail contactless services under this special offer of the bank without going to the bank branch. Shoppers can get instant features through Instabiz app

ICICI Bank said that retail businesses can get these facilities instantly through the mobile app InstaBiz App. Shopkeepers can overdraft up to Rs 25 lakh without paperwork. Apart from this, by creating campaigns of customers of the bank, they will also get the facility to connect with their business. Through the Merchant Stake, shoppers will get instant credit facilities like Super Merchant Account, Merchant Overdraft and Express Credit, Digital Store Management and a variety of Value Added Services. According to the bank, this will benefit more than 2 crore shopkeepers across the country.

such as under the Merchant steak to retailers these features

Under Merchant Stake, the facility of Super Merchant Current Account will be made available to the shopkeepers, which is a zero balance account. Through this, the POS facilities of the bank can be used. As long as the shopkeepers continue to use these facilities, they will be able to take advantage of this account. It is available in Super Advantage and Super Advantage Plus variants. At the same time, under the Instant Credit facilities, the merchant stake offers two instant credit facilities based on POS transactions. Under merchant overdraft, pre-qualified merchants linked to ICICI Bank POS machines can overdraft up to Rs 25 lakh immediately. For this, the bank will decide the credit eligibility of shopkeepers through POS transactions.

>> Bank is offering instant settlement of POS transactions under Express Credit. Now you will not have to wait for some working days to use the money received through the POS machine.

>> The bank has introduced digital store management platform for shoppers wishing to expand their online business. Under this, their physical store will be online within half an hour. It will also help in managing invoices, inventories and collections.

>> Shopkeepers will also get the benefit of Loyalty Rewards Program under Merchant Stake. Under this, through the bank’s EasyPay facility, customers will get points for taking payment from them. These points can be used for shopping, vouchers and vacations.

>> Shopkeepers can use several major e-commerce and digital marketing platforms to advertise and find new online customers. Apart from this, the bank has tied up with many companies regarding services like staffing and security. This can be discounted on their services.