Sun. Jun 16th, 2024 online news,India,May 3,2024: Airtel Payments Bank today  announced the launch of its Business Solution Suite, designed to revolutionise the banking and payment experience for its merchant partners across the country. The innovative suite seamlessly integrates banking and payment functionalities into one unified platform, offering unparalleled convenience and efficiency to merchant partners.

The Business Banking Solution Suite is a comprehensive package that combines the benefits of Airtel Payments Bank’s current account and the ability to receive payments through a QR code with audible payment confirmation via its newly launched Soundbox, packaged within a plan that provides complimentary insurance benefits. Further, the suite empowers merchants with the ability to apply for loans* from the Bank’s trusted partners.

Seamless Business Banking experience 

Airtel Payments Bank’s ZERO balance current account is designed to cater for the needs of small and mid-size businesses. A merchant can open this account instantly and experience seamless fund settlement and hassle-free cash deposits and withdrawals at designated banking points, all at a fixed, one-time cost.

Enhanced Payment Experience with Soundbox 

Airtel Payments Bank has launched Soundbox, designed to deliver seamless audio notifications for every customer transaction via QR codes at merchant shops. Merchants will be able to personalize their experience by selecting from a range of languages for payment confirmations.

Currently the Soundbox offers to choose from Hindi and English only and 9 more language options to be rolled out soon. The bank offers doorstep installation of this ingenious Soundbox, with free replacement within 12 months for hardware malfunction. 

Special Plans to offer a financial safety net

The Soundbox comes integrated in a unique plan providing complimentary insurance benefits to ensure financial security for merchants in the event of accidents, hospitalization, or unforeseen damage to their shops. Merchants have the flexibility to choose any two insurance plans of their liking, each valid for one year. 

Facilitating Financial Empowerment with Loan* Options

The unique proposition empowers the merchants with the ability to apply for loans digitally through the Airtel Payments Bank’s business app. The Bank has forged strategic partnerships with leading lenders to offer seamless access to a suite of business, personal, and gold loans by these partners.

Merchants can apply for the loans digitally for loan* amounts ranging from INR 10,000 to INR 10,00,000, depending on the loan type, and the loan provider lets them know their eligibility assessments. 

Anubrata Biswas, MD and CEO of Airtel Payments Bank said “We are delighted to launch this Business Solution Suite-a truly innovative, differentiated and relevant offering designed to address the banking and payment needs of our Merchant partners.

The solution stands apart in the industry for being user-need-focused, developed after extensive research, and designed to encourage the adoption of digital banking among small and mid-size merchants. Its introduction underscores our commitment to driving the vision of a digital India.”

The Bank will continue to expand its merchant offerings in the days to come. 

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