Question
Which private sector bank announced the launch of which
Merchant app, a payments and banking solution for small and medium-sized businesses?Solution
SmartHub Vyapar Merchant app for SMEs- HDFC Bank, one of the private sector lenders, announced the launch of SmartHub Vyapar Merchant app, a payments and banking solution for small and medium-sized businesses. HDFC Bank has developed the SmartHub Vyapar app in partnership with a merchant Saas platform, Mintoak Innovations India.On the banking front, merchants can open fixed deposits, have quick access to pre-approved loans and credit cards. They can also get a real time view of all transactions credited into their bank account with the help of this app. One of the interesting features of the SmartHub Vyapar is its voice feature that informs the merchant of a successful transaction. HDFC Bank Headquarters: Mumbai CEO: Shashidhar Jagdishan Mintoak Innovations Headquarters: Mumbai CEO: Raman Khanduja
Fixed cost Rs. 80,000; Variable cost Rs. 2 per unit; Selling price_Rs. 10 per unit; turnover required for a profit target of Rs. 60,000.
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