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.
