CCAvenue India : January 2020

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January 2020

In an endeavor aimed at strengthening digital payments in India, the Ministry of Finance recently issued a Gazette notification, mandating companies with an annual turnover exceeding INR 50 crore to offer digital payments to its customers. The ministry has prescribed RuPay debit card, UPI, and UPI QR code as mandatory modes of payment for digital transactions, and will be levying a penalty of INR 5,000 per day for businesses that do not comply. Merchants onboard the CCAvenue platform can avail these prescribed modes of payment at Zero TDR to avoid paying this penalty. No charges (convenience fee) for RuPay debit card /UPI /UPI QR code must be levied to end customers for processing these transactions. In case your business is not yet offering these prescribed payment options, we request you to contact us as soon as possible.
Get compliant by accepting RuPay Debit Card and UPI Payments through CCAvenue at Zero TDR!

Continuing its award winning run well into the New Year, Infibeam Avenues' payment gateway solution CCAvenue won the 'Chief Risk Officer of the Year' and 'Risk Manager of the Year' awards at the CRO Leadership Summit & Awards 2020 presented by UBS Forums. The award ceremony was held at the Hyatt Regency, Mumbai on January 23, 2020. While Ms. Smita Shetkar was recognized for her successful role as CRO of Infibeam Avenues' Payment Services Division, Ms. Kavitha Shetty was awarded for her invaluable contributions as the Risk Manager. CCAvenue was also recognized for its achievements under the 'Risk Management Team of the Year' category. Ms. Priya Pawar and Ms. Aarti Upadhyaya were Infibeam Avenues' representatives who accepted the awards at this event.

CCAvenue.com bagged the 'Best Digital Payment Facilitator' award at the Driver of Digital (DOD) Awards and Summit 2019 presented by Inkspell Solutions. Mr. Ashok Yadav, Senior Manager - Merchant Services at Infibeam Avenues' Payment Services Division, and Mr. Shrutej Patil, Sr. Executive Relationships - Marketing accepted the award at the prestigious ceremony held in Mumbai on December 13, 2019. CCAvenue has won the 'Best Digital Payment Facilitator' award at the DOD Summit for the second consecutive year.

INDUSTRY NEWS

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Source: Medianama

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Indian Ecommerce industry fastest growing in the world: Report

Source: Inc42

Citing that India's ecommerce sector is growing at the fastest pace in the world, the Competition Commission of India (CCI) estimated that revenue from this...
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NPCI to adopt blockchain-based system 'Vajra' to secure online payments

Source: Yourstory

The National Payments Corporation of India (NPCI) has designed and adopted a blockchain-based system for automating payment clearing... Read More

Competition Commission of India pitches for self-regulation of eComm platforms

Source: Economic Times

India's competition watchdog has called for clear policies on deep discounts and transparency in seller ratings by large ecommerce companies...
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