YES BANK LAUNCHES YES PAY EASY – A MOBILE APP FOR MERCHANTS IN PARTNERSHIP WITH MASTERCARD AND WORLDLINE INDIA
Enables merchants to use their smartphones as a Point of Sale (POS) terminal and accept contactless and remote payments using YES PAY EASY
YES BANK has announced the launch of YES PAY EASY, a mobile application (app) that enables small-scale merchants such as traders, retailers, and professionals, to accept instant cashless payments from their customers. YES PAY EASY empowers merchants to transact with their mobile phones through multiple digital modes like Bharat QR, Tap-On-Phone and SMS Pay.
The app has cutting-edge features to make merchants undertake a host of activities. Merchants can collect payments via multiple modes, share digital charge slips with their customers instantly, and generate reconciliation statements with a click. Merchants will also be able to track pending payments and send reminders to customers using the Khata feature, which helps merchants to record pending payments digitally and send reminders to customers.
It is designed for any individual or sole proprietor with a valid business license, and happens to be an existing current or savings Account customer of YES BANK. The onboarding process has been kept simple through a Do-It-Yourself mode with intelligence-based guidance built into the app.
YES PAY EASY app has been developed in 8 languages (English, Hindi, Marathi, Gujarati, Tamil, Kannada, Telugu, and Bengali) to cater to customers across various geographies. It has been built in collaboration with Mastercard and Worldline India, two of the world’s leading payments and technology companies.
The rental cost for the merchant to use this application would be substantially lower than a regular POS terminal.
Benefits of the YES PAY EASY app:
- The app facilitates the acceptance of payments through multiple digital modes like Bharat QR, Tap-On-Phone as well as SMS Pay.
- Merchants can easily keep track of pending payments and generate reconciliation reports that gets sent to the customer’s registered email ID instantly.
- Customers who hold a current or savings account with YES BANK along with a valid business license can transact using the app.
- Merchants have the flexibility to undertake cash transactions and keep a record of the cash collected within the app.
- Currently, the YES PAY EASY app is available in eight languages, namely English, Hindi, Marathi, Gujarati, Tamil, Kannada, Telugu and Bengali.
Resource: Yes Bank Press Release
