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Press Room |
November
1, 2001 * CCAvenue welcomes Citibank to its
network
Citibank account holders in
India will soon be shopping online through CCAvenue,
India's first and only neutral online payment
gateway. CCAvenue has teamed up with India's
largest credit card organization, Citibank,
to extend its online payment services to hundreds
of Indian Merchants' web sites.
Citibank was the first card company to come
into India in the early nineties and introduce
the concept of credit payments to the average
Indian consumer. Today, that brave first step
has paid off with Citibank still being one of
the most preferred credit cards in the country.
Over the years, Citibank has consistently offered
value-adds and extras to its account holders
and card members. Now with this tie-up with
CCAvenue, Citibank expands the convenience to
its patrons: the facility to pay online at hundreds
on Indian merchants websites.
"As a pioneer in online payments, CCAvenue
is committed to providing a safe, reliable and
convenient method for online sales and purchases.
With Citibank now in its list of 'accepted cards',
CCAvenue has made e-commerce safe and easy for
millions of Citibank card members across India,"
said Mr. Patel, CEO, CCAvenue. "By partnering
with Citibank, CCAvenue users will now have
an additional choice of payment for secure,
online transactions." This partnership
will make several other brand names available
as payment options to CCAvenue customers. These
include names like Diners Club International,
and Citibank E-Cards, along with conventional
Visa and Master Cards.
CCAvenue enables any business
to receive online payments securely, conveniently
and cost-effectively. CCAvenue network builds
on the existing financial infrastructure of
bank accounts and credit cards to create a global
payment solution. CCAvenue is a popular payment
network for online auction websites and is being
increasingly used at e-commerce sites for the
sale of goods, services.
About Citibank
Citigroup (NYSE:C), the pre-eminent global financial
services company, provides some 120 million
consumers, corporations, governments and institutions
in more than 100 countries with a broad range
of financial products and services, including
consumer banking and credit, corporate and investment
banking, insurance, securities brokerage and
asset management. Major brand names under Citigroup's
trademark umbrella are Citibank, CitiFinancial,
Primerica, Salomon Smith Barney, and Travelers.
Citibank is a member company of Citigroup, the
largest and the most diversified provider of
financial services in the world. With its 99-year
history, Citibank has come to be acknowledged
as one of the leading international banks in
India, with a track record of outstanding business
milestones.
In India, it was the pioneer in :
- consumer banking, being the first to introduce
focused consumer lending programs;
- electronic banking, having made significant
investments in technology.
- launching credit cards in India, and ranks
amongst the leading credit card issuers in the
country with over 1.5 million card members (i.e.
over 70 % of the Indian credit cards are issued
by Citibank. It has done 'Due Diligence' and
maintains complete detailed records of more
than 70% of Indian Credit Card Holders.). Citibank
is also amongst the first to launch the Real
time Internet Payment Gateway services in India.
It will act as CCAvenue's acquiring bank to
provide proprietary payment gateway services
and will allow Citibank Net Banking and Debit
card transactions through CCAvenue.
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
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