Ezetap and Axis Bank launch ‘My Vyappar’ for the retail segment
By Léandra Monteiro
- Axis Bank
- Digital payments
Ezetap, a digital payment company, has partnered with Axis Bank, which has been at the forefront of innovation in retail acquisition, to bring the latest My Vyappar offering to retail businesses in India. Through My Vyappar, Axis Bank will introduce a host of services enabling efficient management of digital payments for merchants across the country. As part of this partnership, more than 50,000 intelligent point of sale terminals have already been deployed with My Vyappar in more than 1,600 cities.
Through My Vyappar, Axis Bank brings a wide range of attributes specially designed for the retail segment in India. My Vyappar offers a full suite of Buy Now Pay Later (BNPL) options that can increase revenue. EMI facilities would be available for tickets as small as INR 3,000. The app also aims to motivate merchants to increase the use of digital payments, incentivizing them with exciting rewards, once banking goals are met. The My Vyappar app gives businesses a single view of all credit transactions, accessible anytime, anywhere. It would help merchants to go paperless and access their digital records even at home.
My Vyappar also provides much-needed multilingual capability by adding Hindi as an additional language to help retailers better understand digital payments and accelerate their adoption of the technology. To ensure a transparent user experience for traders, the My Vyappar application offers a simplified interface, similar to existing mobile platforms. To make retailers more agile and flexible with digital payments, the app provides a complete set-up in the form of integrated training. It also establishes a direct channel through which banks can communicate directly with merchants and offer personalized plans including loan options and reward programs.
Speaking about My Vyappar’s role in improving digital payment adoption, Byas Nambisan, CEO of Ezetap, said: Challenges that further limit the business benefits of going digital. Through the My Vyappar app, we aim to solve these issues while providing traders with efficient ways to grow their businesses. With all of its features, including built-in training and support functions, we are confident that the app will deliver the much needed efficiency in managing and tracking digital payments. It also demonstrates our commitment to providing innovative solutions to simplify digital payments for banks as well as businesses. “
Commenting on the association, Sanjeev Moghe, EVP & Head-Cards & Payments, Axis Bank said: “We have continuously worked on partnership models and digital solutions to extend our offerings to the merchant community. In this company, we are delighted to partner with Ezetap to offer the My Vyappar application to our merchant customers. The app would allow our customers to be more flexible and agile with digital payments, thus contributing to their business growth. Although the adoption of digital payments has improved in the country in recent times, there has been a lot of room for improvement and simplification. The My Vyappar app fills all these gaps and will prove to be of great benefit not only for merchants but also for us by improving our communication and engagement with our customers in the merchant community. “
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