ICICI Bank launches digital, contactless banking platform for merchants

30 Apr 2021 Evaluate

ICICI Bank has launched digital and contactless banking platform for merchants. The service, christened 'merchant stack', is targeted at the over 2 crore retail merchants in the country to render banking services digitally. There are over 2 crore merchants in the country with approximately $780 billion in value of transactions in 2020. They are expected to grow rapidly in the coming years.

The stack provides banking solutions including a zero-balance current account, instant credit facilities, 'digital store management' facility, loyalty programme, and value added services like alliances with e-commerce and digital marketing platforms.

ICICI Bank is a leading private sector bank in India.

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