Precious Kashmir News
Srinagar, Nov 1: With a view to further drive digital payment adoption among the merchant segment, HDFC Bank has launched cashbacks/offers for small and medium sized merchants across metro, semi urban and rural markets.
The campaign, called ‘Tees pe Treat’, for merchants, began in October will cover the entire festive season till the end of the year. This campaign will cover more than 7 lakh traders and merchants who are part of HDFC Bank network across India. So merchants using the Bank’s Merchant App, QR code, PoS or Payment gateways and across all segments like – Electronics, Apparel, Grocery, Fuel etc, stand to win assured cashback and prizes on volume build up, EMI or Digital transactions.
“This is a first for the Bank, where we are extending the festive treats campaign for even the entire small and medium merchants in our network across the country. This program is not just for merchants based in metros, but also in semi-urban and rural markets,” said Parag Rao, Country Head – Payments, Consumer Finance, Marketing and Digital Banking at HDFC Bank.
He said to further deepen the adoption of various digital payment forms across India, it is important that the merchant network are empowered with the best solution range and are also encouraged and incentivised for this change in behavior, as this change is a critical step towards Digital India.
“The small and medium merchants form a critical backbone of our merchant network. If merchants are enthused about using digital payment forms, it will give further push to usage of electronic payments by customers,” he said.
The largest private sector lender is a leading player in the merchant acquiring space in the country and as per recent media reports has set an aggressive target of increasing its network of small merchants to 20 million in the next three years. The bank is targeting merchants with solutions on accepting payments, providing value-added services like creating a simple website for them, taking care of their inventory and lending based on cash flows.
The Bank recently launched Festive Treats 2.0 campaign, where customers can avail of special deals on banking products and over 1000 offers from leading brands in India. Further, the campaign also has over 2000 hyper local offers through tie-ups with local merchants across semi-urban and rural markets in India.