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Old private sector lender RBL Bank (earlier known as Ratnakar Bank) has tied up with payments company TranServ to introduce bank-sponsored digital wallet called Shmart for online retailers in India.
“Developed specifically to address the unique needs of online retailers in India, the digital payment product suite -- Shmart has been deployed by over 150 merchants,” RBL Bank said in a statement.
Online merchants can offer their customers faster checkout, instant refunds, secure storage of bank cards, vouchers and coupons, and an RBL Bank sponsored semi-closed loop pre-paid account to store funds.
They can also process transactions across multiple channels – mobile, Web or point-of-sale (PoS). Shmart integrates with the interface of e-commerce Web sites and mobile apps, allowing retailers to control their brand and their customers’ experience.
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