CCAvenue

In yet another move of progressive expansion, CCAvenue has entered into a partnership venture with ZestMoney for offering its Cardless EMI payment option to its merchants based across the country. ZestMoney is India's largest Cardless EMI provider and one of the fastest growing consumer-lending fintech company founded in the year 2015. The alliance was signed on September 19, 2019 on a mutual agreement that aimed at revolutionizing online buying through the incorporation of Cardless EMI into CCAvenue's existing range of payment options thereby enabling its merchants to offer a more convenient and flexible payment option to online buyers.

Cardless EMI
A Cardless EMI payment method enables an online customer to convert his payment amount to EMIs at the time of doing a checkout while shopping. In a Cardless EMI transaction, the user can purchase the product and make payments later conveniently in equated installments without owning a credit or debit card. Going with the Cardless EMI option, makes it easy for the customer to 'Buy Now and Pay Later' with no initial down payments. In the Indian e-commerce market where payments are considered to be a major driver of growth, Cardless EMIs are expected to change the online scenario in a short span of time. To the existing modes of payment such as debit cards, credit cards, Net Banking, and wallets, CCAvenue will now be adding ZestMoney's Cardless EMI option as a powerful alternate. Other than being an advanced solution for digital credit and lending, the Cardless EMI payment is increasingly affordable for customers. It offers a much better experience when compared to cards and Net Banking. Together with increasing the Average Order Value (AOV), Cardless EMI payments also increase the frequency of transactions.

CCAvenue is already a provider of maximum EMI options in India, offering the EMI facilities of 14 leading banks. The new Cardless EMI payment solution will complement the existing card based EMI payment feature further enabling eCommerce websites powered by CCAvenue to maximize revenue and grow their businesses substantially.

About Zest
A leading Consumer-lending Fintech company based in India, ZestMoney was founded by Lizzie Chapman, Priya Sharma and Ashish Anantharaman in 2015. It is a platform built to meaningfully improve the lives of more than 300 million households in the country, who currently have no access to credit cards or any other formal financing options because of insufficient credit history. ZestMoney's unique platform uses mobile technology, digital banking and Artificial Intelligence to make life more affordable to millions of Indian consumers. With nearly 40 plus years of combined experience in fintech and approximately a decade in digital lending, Zestmoney is currently backed by leading global investors such as Ribbit Capital, Reinventure, Naspers, Quona Capital, Omidyar Network, Xiaomi.com, and more.

About CCAvenue
CCAvenue is the largest online payment gateway company powering 1 lakh+ Indian businesses with end-to-end eCommerce solutions. Its spectrum of payment options includes 6 major Credit Cards, 98+ Debit Cards (All MasterCard /Visa /Maestro /RuPay Cards), Amex EzeClick, 58+ Net Banking, 13 Prepaid Instruments and up to 14 Multi Bank EMI options. Backed by a history of industry firsts, outstanding innovations and prestigious accolades, CCAvenue offers a multi-channel payment platform, along with a bunch of disruptive features such as CCAvenue Checkout, CCAvenue S.N.I.P., CCAvenue Store Front, CCAvenue Card Storage Vault (tokenization) and more. CCAvenue has successfully achieved the ISO/IEC 27001:2013 certification in addition to being PCI DSS 3.2.1 compliant. CCAvenue also offers UPI (Unified Payments Interface) and will soon be adding BBPS (Bharat Bill Payment System) payment facility on its platform.