New Delhi, Oct 6 (IANS): Airtel Payments Bank has upgraded its app to provide a range of digital benefits to its merchant partners in a bid to simplify the payment process.

Airtel Payments Bank app now comes with two new features "Smart ePOS" and "On-Demand Settlement" for merchants. Smart e-POS (point of sale) enables merchants to use their smartphones as a POS machine to accept digital payments, the company said in a statement.

The 'On-demand Settlement' feature enables merchants to transfer their payments into their bank accounts at any time as per their convenience.

The money is instantly credited to the merchant's registered bank a ccount, it said.

Airtel Payments Bank has nearly 15 lakh merchants on board, across multiple categories and formats. The bank aims to expand its merchant base and plans to add over 10 lakh new merchants to its network in the coming months.

Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said: "Merchant partners play a crucial role in driving digital payments on the ground and empowering them with easy to use payment solutions is of utmost importance to us. The new solutions allow merchants to receive and settle payments through a seamless and secure digital process."