CCAvenue becomes the first third party payment aggregator to integrate the net banking facility of Aditya Birla Idea Payments Bank
14 June, 2018
Recognizing the growing significance of payment banks in the Indian FinTech domain, CCAvenue.com has become the first payment gateway to integrate the net banking facility of Aditya Birla Idea Payments Bank to its extensive payment network. With the inclusion of this new payment option, 1,20,000+ merchants powered by CCAvenue will gain new opportunities to reach out to the payments bank's growing account holder base and enhance their business potential substantially.
Aditya Birla Idea Payments Bank became the fifth payments bank to roll out operations in February 2018 after receiving the in-principle approval from the Reserve Bank of India. The payments bank is a part of the Aditya Birla Group, the third-largest Indian private sector conglomerate that operates in 35 countries with a huge workforce, comprising of more than 120,000 employees worldwide. The group is now a US $ 41 billion (INR 2,50,000 Crore) corporation in the esteemed Fortune 500 league.
Payments Bank is an initiative by the central government that aims to make banking and finance more accessible to the last mile Indian consumer. Their primary role is to offer a simplified banking experience to all customers in-store and across all devices including computers and mobile phones. With the proposed inclusion of 1.5 lakh postal offices to the network by the end of the year, the payments bank system is all set to play an even bigger role in the growth of the economy.
Commenting on this move, Mr. Vishwas Patel, CEO, Avenues India, said: "Payment banks are an excellent value addition to the banking system in our country. Within a short span of time, these banks have begun transforming the payment industry with a fresh burst of energy backed by robust business systems. CCAvenue is the first payment gateway solutions provider to include the net banking option of Aditya Birla Idea Payments Bank to its platform. With this integration, we offer full-fledged support to the payments bank in fulfilling its objective of 'empowering every Indian, in every walk of life, with an accessible, convenient and trusted banking channel'. The inclusion of this payment option will also enable our merchants to reach out to its rapidly increasing customer base and expand their businesses substantially."
As CCAvenue continues to introduce more and more such innovative payment options in the coming months, it will only help merchants boost their sales and enhance their revenue stream.
About Aditya Birla Idea Payments Bank
Aditya Birla Idea Payments Bank (ABIPBL) began its operations in February 2018 after receiving the in-principle approval from the Reserve Bank of India. With its headquarters in Mumbai, the payments bank has expanded its footprint significantly according to its mission of 'Bringing the world to each Indian one transaction at a time'. ABIPL is a part of the Aditya Birla Group, the third-largest Indian private sector conglomerate that operates in 35 countries with a huge workforce, comprising of more than 120,000 employees worldwide. The group is now a US $ 41 billion (INR 2,50,000 Crore) corporation in the esteemed Fortune 500 league. ABIPBL is a joint venture between Aditya Birla Nuvo Ltd (51 per cent stake) and Ideal Cellular (49 per cent stake). The payments bank is also authorised to carry on the business of Prepaid Payments Instrument business. To know more about the Aditya Birla Payments Bank, please visit their website at www.adityabirla.bank
About CCAvenue
CCAvenue is a PCI DSS 3.2 compliant payments platform for eCommerce businesses in India. It is designed to help its 1 lakh+ merchants accept online payments through a spectrum of new-age payment options including 7 major Credit Cards, 98+ Debit Cards (All MasterCard /Visa /Maestro /RuPay Cards), Amex EzeClick, 54+ Net Banking, 16 Prepaid Instruments, UPI and up to 13 Multi Bank EMI options. Backed by a 16-year 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
Aditya Birla Idea Payments Bank became the fifth payments bank to roll out operations in February 2018 after receiving the in-principle approval from the Reserve Bank of India. The payments bank is a part of the Aditya Birla Group, the third-largest Indian private sector conglomerate that operates in 35 countries with a huge workforce, comprising of more than 120,000 employees worldwide. The group is now a US $ 41 billion (INR 2,50,000 Crore) corporation in the esteemed Fortune 500 league.
Payments Bank is an initiative by the central government that aims to make banking and finance more accessible to the last mile Indian consumer. Their primary role is to offer a simplified banking experience to all customers in-store and across all devices including computers and mobile phones. With the proposed inclusion of 1.5 lakh postal offices to the network by the end of the year, the payments bank system is all set to play an even bigger role in the growth of the economy.
Commenting on this move, Mr. Vishwas Patel, CEO, Avenues India, said: "Payment banks are an excellent value addition to the banking system in our country. Within a short span of time, these banks have begun transforming the payment industry with a fresh burst of energy backed by robust business systems. CCAvenue is the first payment gateway solutions provider to include the net banking option of Aditya Birla Idea Payments Bank to its platform. With this integration, we offer full-fledged support to the payments bank in fulfilling its objective of 'empowering every Indian, in every walk of life, with an accessible, convenient and trusted banking channel'. The inclusion of this payment option will also enable our merchants to reach out to its rapidly increasing customer base and expand their businesses substantially."
As CCAvenue continues to introduce more and more such innovative payment options in the coming months, it will only help merchants boost their sales and enhance their revenue stream.
About Aditya Birla Idea Payments Bank
Aditya Birla Idea Payments Bank (ABIPBL) began its operations in February 2018 after receiving the in-principle approval from the Reserve Bank of India. With its headquarters in Mumbai, the payments bank has expanded its footprint significantly according to its mission of 'Bringing the world to each Indian one transaction at a time'. ABIPL is a part of the Aditya Birla Group, the third-largest Indian private sector conglomerate that operates in 35 countries with a huge workforce, comprising of more than 120,000 employees worldwide. The group is now a US $ 41 billion (INR 2,50,000 Crore) corporation in the esteemed Fortune 500 league. ABIPBL is a joint venture between Aditya Birla Nuvo Ltd (51 per cent stake) and Ideal Cellular (49 per cent stake). The payments bank is also authorised to carry on the business of Prepaid Payments Instrument business. To know more about the Aditya Birla Payments Bank, please visit their website at www.adityabirla.bankAbout CCAvenue
CCAvenue is a PCI DSS 3.2 compliant payments platform for eCommerce businesses in India. It is designed to help its 1 lakh+ merchants accept online payments through a spectrum of new-age payment options including 7 major Credit Cards, 98+ Debit Cards (All MasterCard /Visa /Maestro /RuPay Cards), Amex EzeClick, 54+ Net Banking, 16 Prepaid Instruments, UPI and up to 13 Multi Bank EMI options. Backed by a 16-year 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
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