Bhubaneswar : Airtel Payments Bank today announced the launch of its current account –
BizKhata, which comes with unlimited transactions* and instant activation for small merchants
and business partners across the country. A large number of small business owners
continue to use savings accounts for business purposes as they cannot meet the
minimum balance requirement of the business accounts. This makes the process of
differentiating personal and business transactions cumbersome. Airtel Payments Bank’s
BizKhata has been designed specifically for these small merchants and business
owners. It brings all business transactions to one platform and allows them to maintain
clear records while enjoying multiple banking benefits.
Costumer can Do Unlimited credit and debit transactions. Customer can start using the account within 5
minutes of opening it. The account has no minimum balance condition. Business owners can receive and
make online payment transfers to any bank across India through IMPS, UPI, NEFT and IFT. In addition,
the account comes linked to a QR code to receive payments from any UPI app. Day-end balance above
INR 200,000 will be auto sweep-out to a current account with the partner bank. With a single click, the user
can transfer the sweep amount back to the business account. Business owners can download the
transaction history with a single click and reconcile transactions.
The current account solution will be available to existing and new merchants and business
partners of Airtel Payments Bank. A business owner can easily open this account within 5
minutes with biometric authentication and minimal paperwork.
Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank, said, “At Airtel
Payments Bank, we aim to make banking accessible and simple. Our research reflected that
fear of high charges levied on not meeting the minimum balance requirement and going beyond
the defined number of transactions is a setback for small business owners to start a business
account. With this insight, we created BizKhata account to enable and offer the benefits of
business banking to small business owners. This account is an important addition to our existing
portfolio of business products.”
