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ICICI Bank launches merchant stack platform

April 30, 2021

ICICI Bank launches merchant stack platform

ICICI Bank on Thursday launched a digital and contactless banking platform for merchants.

The help, dedicated ‘merchant stack’, is focused at the more than 2 crore retail vendors in the nation to deliver banking services carefully, the second-biggest private sector lender said in a statement.

“There are more than 2 crore vendors in the country with around USD 780 billion in worth of transactions in 2020. They are required to fill quickly in the coming years,” ICICI Bank Executive Director Anup Bagchi said.

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

Bagchi said the service is an expansion of a similar stack for retail clients launched a year ago.

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