“Apart from the above value-added features, we are successful to bring on the table a loyalty program for the merchants, where the merchants accept instant cashless payments from customers through POS/QR solution, get points for transactions which can be redeemed for shopping, vouchers, vacations, among others,” added Gadgil. Besides, merchants can also apply for a voice messaging device, ‘EazySound’, to get real-time instant payment confirmation for both successful as well as failed transactions. They can then generate digital QR codes with specific amounts and share it with customers digitally on email or messaging platforms.
#IBIZ ICICI CODE#
Of course, this was a system which was rolled out during the pandemic, and was proven especially effective as customers were seeking contactless payments, adding to the safety of the end customers, thereby helping these merchants to generate more sales than before.Īpart from this, there are also other value added services where merchants can instantly create and activate QR code and link it with their account in any other bank. He can also order from his distributors online from the app itself,” he explained. The digital stores can be created in flat 30 minutes by just four clicks. The facility also enables merchants to create promotional campaigns, manage invoicing, inventory and collections. They can choose from over 500 attractive templates and catalogues to design their digital store. We initiated the concept of partnership, where we ensure a solution where the facility enables merchants of any bank to create a digital store on ‘EazyStore’ mobile app. “A majority of merchants expressed their desire of creating their online identity in the form of stores. Now, can a merchant or a shopkeeper convert his store to an online store? Gadgil recalls how his team had a conversation with the merchants from the kirana store or even supermarkets. So, it’s like a one-stop solution for all the digi-enabled solutions,” added Gadgil. Lastly, there is a networking section of the app that enables merchants to connect with like-minded counterparts. For cross-border merchants, transactions become easy and instant with InstaBIZ. So, now, he can do his transactional banking, fulfill his compliance needs, and can also apply for a loan digitally through the app if he wishes too. “With this latest proposition, even if a merchant is not a customer of the ICICI Bank, he can become a part of it by simply downloading the ‘InstaBIZ’ app from the Google Play Store and linking their bank account. We wanted to make sure every single Indian merchant can have a look at all the solutions we are trying to bring around the business banking side,” he explained.Įvery merchant looks for digital solutions that would allow them to acquire payments digitally. Thus, we thought of a plan where we could rope in all the banking solutions under one umbrella.
“The merchant ecosystem in India is huge with more than 2 crore merchants thriving till date. Open architecture has been the guided philosophy behind the organisation, reveals Gadgil. In a recent fireside chat with YourStory, Pankaj Gadgil, Head - Self Employed Segment, SME & Merchant Ecosystem, ICICI Bank, delved deeper into the development and its effectiveness. The first-of-its kind initiative enables merchants, owners of grocery shops, supermarkets, restaurants, stationery stores, and pharmacies, including professionals like doctors and lawyers to instantly create digital collection solutions like UPI ID and QR code, and start collecting money from their customers immediately. ICICI Bank has made its InstaBIZ app interoperable, making the benefits of its business banking mobile app available to customers of other banks.
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