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CCAvenue Enriches its Payment Platform - Now Offers TPV Integration of Leading Banks for BFSI Merchants
11th July, 2016
In its constant endeavor to reach out to new categories of merchants, CCAvenue, South Asia's largest payment gateway, now provides TPV integration on its payment processing platform. Third Party Verification (TPV) procedure is a mandatory requirement for web merchants such as stock brokers and mutual funds operating in the BFSI (Banking, Financial Services and Insurance) sector. This account authentication procedure is essential for brokerage, Demat Account transfers, investments and other payments specified by the Securities and Exchange Board of India (SEBI).

As per SEBI guidelines, transactions must be made by their customers exclusively from a specific bank account number or CRN (Customer Relationship Number). CCAvenue enables these businesses to meet their compliance requirements for online payment collections by offering the TPV integrations of 10+ major banks. When the customer transacts with the merchant through our payment gateway, his bank account number or CRN is mapped in such a way so as to lock the transaction to ensure that the payment is processed only from his registered bank account.

TPV integration on the payment gateway resembles a net banking transaction with the added advantage of having a locked account during fund transfers. The merchant (such as a broker) initially registers the bank account number or CRN of the customer to meet the SEBI guideline. These account parameters stored by the merchant are forwarded to CCAvenue, which in turn submits them to the corresponding bank of the customer during the transaction process.

Brokers and other online businesses can now sign up for our services and take advantage of our TPV solution to transact online with their customers securely and conveniently in real-time.

Meet your compliance requirements and start transacting online with your customers by availing the TPV integration of leading banks on CCAvenue's advanced payment platform!!

About Avenues
With its headquarters in Mumbai, Avenues India has developed several cutting-edge solutions that are used by thousands of eMerchants spanning across South Asia. Its flagship brand, CCAvenue offers real-time, multi-currency online payment processing services for businesses in the major industry verticals. It is the only complete PG solution in the region that offers the full spectrum of Internet payment options including the 6 major Credit Cards, 98+ Debit Cards (All MasterCard /Visa /Maestro /RuPay Cards), Amex EzeClick, 53+ Net Banking, 16 Prepaid Instruments, 2 Mobile Payments and up to 11 Multi Bank EMI options. For more information, visit www.ccavenue.com