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CCAvenue elevates business growth for its merchants through HDFC Bank's Debit Card EMI Payment Option
16th April, 2020
Assessing the potential of Debit card based Equated Monthly Instalments (EMI) payments and its significance in the Indian e-commerce space, CCAvenue, the digital payments brand of Infibeam Avenues Limited, has integrated HDFC Debit Card EMI into its bouquet of EMI payment options. CCAvenue is a leading payments aggregator, already having EMI payment options of up to 14 leading banks in its offerings. This integration will help augment the revenue stream of its enormous merchant base through larger customer acquisition, as more and more online customers will be able to utilize their debit cards and purchase all kinds of products while also avail the flexibility of making payments in easy installments over a reasonable span of time.

Debit Card EMI is an innovative payment method aimed at improving online payment flexibility while enhancing the user's experience. Through this payment option, web merchants can enable customers to convert their payment amount to EMIs without the necessity of a credit card. Debit card EMI option is convenient for consumers aspiring to make purchases online.

HDFC Bank is one of India's leading private banks offering a diverse range of financial products and banking services to customers across the country. The bank offers EasyEMI on HDFC Bank Debit Card without the need to block any money in the account. Multiple online shopping platforms can now encourage their customers to make purchases with high-value transactions through easy instalments using their debit card.

CCAvenue provides a Multi Bank EMI solution featuring online EMI facilities of leading banks including American Express, State Bank of India, Kotak Mahindra Bank, HDFC Bank, HSBC Bank, ICICI Bank and Standard Chartered Bank. The addition of HDFC Bank's Debit Card EMI facility will enable 1 lakh+ eCommerce businesses registered with CCAvenue to grow their earnings considerably.

Speaking on the occasion, Mr. Vishwas Patel, Executive Director of Infibeam Avenues and Founder of CCAvenue said: "EMI payments are highly preferred amongst online shoppers when it comes to purchasing high-value products on eCommerce websites. Our alliance with HDFC Bank will enable millions of customers to make purchases conveniently in suitable installments by availing the Debit Card EMI facility on thousands of websites powered by CCAvenue."

About HDFC Bank
HDFC Bank HDFC Bank Ltd. is an Indian banking and financial services company operating through a network of 5,345 branches and 14,533 ATMs spread across 2,787 cities and towns. The bank provides products and services including wholesale banking, retail banking, treasury, auto loans, two wheeler loans, personal loans, loans against property, consumer durable loan, lifestyle loan and credit cards. HDFC's net revenues increased by 19.1% to 20,842.2 crore for the quarter ended December 31, 2019 over the corresponding quarter of the previous year. As of March 2020, HDFC is the largest bank in India by market capitalization. Its equity shares are listed on the Bombay Stock Exchange and the National Stock Exchange of India.

About Infibeam Avenues
Infibeam Avenues Infibeam Avenues Ltd is India's leading B2B e-Commerce Solutions provider, offering end-to-end e-Commerce software solutions through the internet to small and large merchants, enterprises and the government. The company caters to customers across business verticals and includes many of the most established brands in India and internationally. The company's web-based e-commerce solutions include SaaS based ERP platform with strong integrated back-office tools for building and managing online stores, digital payment services, logistics solution and more. Infibeam Avenues also offers payment processing services to over 70% of India's e-Merchants through CCAvenue.com, a PCI DSS 3.2.1 compliant payment gateway platform. CCAvenue is India's largest direct debit engine, which connects to more than 58+ Indian banks in real-time and processes all types of Credit Cards, Debit Cards, Digital Wallets and UPI payments. ResAvenue.com hospitality solution and BillAvenue.com, an operating unit for BBPS based bill payment engine are among other SaaS solutions launched by the company. The company's web-services are used by over 400,000 merchants around the world. For more information, please visit www.ia.ooo.