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‘Merchant Stack’—ICICI Bank

Published on April 30, 2021
Current Context: ICICI Bank launched the ‘Merchant Stack’ which is the digital banking platform.
‘Merchant Stack’—ICICI Bank
  • It is specifically developed for retail merchants. It will prove highly beneficial to grocers, supermarkets, large retail store chains, online businesses and large e-commerce firms.
  • Due to ‘Merchant Stack,’ the users will be able to fulfil their banking needs in a seamless manner in this pandemic situation.
  • The users can avail of this ‘Merchant Stack’ service on InstaBIZ which is the Bank’s mobile banking application for businesses.
  • Services offered under ‘Merchant Stack’ are: 1)‘Super Merchant Current Account’ (Name of new account) 2) Instant credit facilities called ‘Merchant Overdraft’ and ‘Express Credit’3) ‘Digital Store Management’ facility to help merchants take their business online 4) Exclusive loyalty rewards programme 5) Value-added services like alliances with major e-commerce and digital marketing platforms for expansion of online presence.
  • Static Part: 
    • HQ of ICICI Bank: Mumbai

Question: 

Q.1 Which Private Sector bank launched Merchant Stack’ which is the digital banking platform?
a. Kotak Mahindra Bank
b. Yes Bank
c. ICICI Bank
d. Axis Bank

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