Press Room

March 1, 2002* Centurion Bank in tie-up with CCAvenue

March 1, 2002. This is the latest in CCAvenue.com's list of corporate tie-ups. After having joined hands with some of India's leading names in the financial industry, CCAvenue.com now offers its merchants the convenience of doing business through the Centurion Bank net banking interface.

One of India's fastest growing private sector banks, Centurion Bank is promoted by Keppel Tatlee Bank of Singapore, and its equity is held by International Finance Corporation - Washington and Asian Development Bank - Manila. Centurion Bank has carved a niche for itself in the late nineties as one of the forerunners of new age banking in India. Currently, the bank has branches in 43 cities and towns with 116 ATMs across India.

In line with that reputation, this new association will facilitate Centurion Bank account holders to pay for goods and services of CCAvenue appointed merchants by directly debiting their net banking accounts in real time.

"Our objective would be to make the local payment gateway available to as many Indian customers as possible. With our latest tie-up with Centurion Bank, we have just expanded our market by a few thousands again," explained Mr. Vishwas Patel, CEO of Avenues.

He further went on to explain that with every tie-up, and thereby increase in customer reach and payment options, CCAvenue's merchants have access to an ever-expanding local consumer market, at negligible costs and profits. "This," he said, "would be the driving force of our success!"

About Centurion Bank
One of India's fastest growing private sector banks, Centurion Bank is promoted by Keppel Tatlee Bank of Singapore, and its equity is held by International Finance Corporation - Washington and Asian Development Bank - Manila. Currently, the bank has branches in 43 cities and towns with 116 ATMs across India.

About Avenues
Avenues is a profitable, debt-free company and currently services thousands of eMerchants worldwide through its solutions www.CCAvenue.com, www.ResAvenue.com, www.EventAvenue.com, www.MembersAvenue.com, www.TrustAvenue.com, www.BpoAvenue.com. It is the largest integrated eCommerce solutions provider in South Asia. Avenues has shown revenue growth and profit growth consistently, year on year. Avenues is incorporated in India, and has offices in Singapore, Hong Kong, and USA. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 120 personnel, spanning across all disciplines. For more information, log onto: www.Avenues.info