MUMBAI:
Axis Bank, one of the largest private sector banks in India, has launched ‘Sarathi’, a first of its kind digital onboarding journey to enable Electronic Data Capture (EDC) or Point of Sale (POS) for merchants. Unlike the cumbersome traditional onboarding process that can take severaldays, Sarathi provides a seamless and hassle-free experience for merchants.
The solution enables merchants to complete the onboarding process in just four simple steps which
includes:
Realtime database checks for faster application processing
Live video verification to authenticate merchant information at his/ her convenience
It eliminates the field verification process which helps in instant decision-making
Instant installation of POS\
With an innovative onboarding solution, Sarathi is built to provide merchants with a smooth and
effective experience. The paperless onboarding process eliminates the need for merchants to fill out
cumbersome forms or wait for extended periods to have their POS terminals installed.
Merchants stand to benefit significantly from Sarathi’s innovative features, which include immediate
status updates, eliminating the need for follow-up visits, and the ability to transact on the same day
their application is processed. The paperless onboarding process ensures that all necessary documents
are collected at one go, avoiding the need for merchants to make multiple visits or submit forms
repeatedly. The solution provides quick installations within 45 minutes of processing the application.
Commenting on the announcement, Sanjeev Moghe, President & Head – Cards & Payments, Axis Bank,
said “Axis Bank will continue to focus on creating digital differentiators across the lifecycle of merchants
and consumers. Sarathi gives us the immense potential to drive value for both merchants as well as the
sales channel, especially at a time when instant gratification is the norm. This rapidification of
onboarding combined with top-notch feature-rich terminals should deliver a superior experience for our
merchant community and at the same time improve productivity for our sales teams from an efficiency
and productivity standpoint.”
Sarathi’s onboarding solution marks a fundamental leap in the way merchants onboard, simplifying the
process and delivering an unparalleled level of convenience and efficiency.
About Axis Bank:
Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of
services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail
Businesses. With its 4,903 domestic branches (including extension counters) and 15,953 ATMs across
the country as on 31st March 2023, the network of Axis Bank spreads across 2,741 cities and towns,
enabling the Bank to reach out to a large cross-section of customers with an array of products and
services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis
Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.
