Press Room 2021
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CCAvenue inks partnership with AU Small Finance Bank for its comprehensive EMI Offering
5th July, 2021
With the primary objective of maximizing the earning potential of its huge merchant base, CCAvenue, Infibeam Avenues' leading digital payments platform, is partnering with AU Small Finance Bank, to offer its best-in-class EMI facility as a mode of payment on innumerable eCommerce websites in the country.

Infibeam Avenues has strengthened its focus on its Multi Bank EMI offering over the years in response to the changing consumer behaviour in India. Online EMI payments are gaining popularity in the Indian eCommerce space as a large number of online shoppers from urban areas, including the smaller towns and cities, are switching to this 'Buy Now, Pay Later' payment method. CCAvenue is currently the provider of maximum EMI options in India, offering the EMI facilities of 13 leading banks including HDFC Bank's Debit Card EMI option.

AU Small Finance Bank started its success story as an NBFC (Non-Banking Financial Company) with the objective of serving customers in the rural and semi-urban areas. On receiving the approval from Reserve Bank of India (RBI), the bank became one of the first few entities in India to transition from an NBFC to a small finance bank. The bank aims to continue focusing on under-banked geographies by offering credit to micro-enterprises, agriculture and allied activities, as well as introducing banking services including acceptance of deposits to its portfolio. AU Small Finance Bank is listed on NSE & BSE with market capitalization of over Rs. 30,000 crore.

The bank's total deposits increased 38% to Rs 37,014 crore as on 30 June 2021 from Rs 26,734 crore as on 30 June 2020. Its net profit jumped to Rs 169 crore in Q4 FY21 from Rs 122 crore in Q4 FY20. Total income amounted to Rs 1569.01 crore in Q4 FY21, up by 14.8% from Rs 1366.60 crore in Q4 FY20.

The EMI (Equated Monthly Instalment) plans offered by AU Bank give customers the freedom of making payments in their chosen timeframe when they purchase products, mainly high value merchandise. Customers can choose suitable EMI tenure options to make easy payments with their credit cards. Online EMI enables customers to make impulse purchase decisions while browsing eCommerce sites and buy products which they otherwise would not have been able to acquire.

Commenting on this collaboration, Mr. T. Nandakumar Menon, Vice President - Alliances and Operations at Infibeam Avenues said: "When it comes to the purchase of high-value products on eCommerce websites, EMI is one of the most preferred payment options among online shoppers. Considering this, CCAvenue offers the EMI facilities of leading banks to ensure maximum traction for businesses availing our payments platform. This partnership with AU Small Finance Bank will provide our merchants with new opportunities for accelerating their business growth. Moreover, the new payment option will offer greater financial flexibility to the end consumers shopping on innumerable websites powered by CCAvenue."

About AU Small Finance Bank
AU Small Finance Bank AU Small Finance Bank is an Indian commercial bank that was initially established as a vehicle finance company Au Financiers (India) Ltd in 1996 and converted to a small finance bank in April 2017. It is a customer-centric and service-driven financial institution, offering the best and trusted financial solutions for the entrepreneurial aspirations of the unreached and unbanked masses in the country. AU Small Finance Bank is listed on NSE & BSE with market capitalization of Rs. 30,000 crore. The bank's total deposits increased by 38% to Rs 37,014 crore as on 30 June 2021 from Rs 26,734 crore as on 30 June 2020. Its net profit jumped to Rs 169 crore in Q4 FY21 from Rs 122 crore in Q4 FY20. Total income amounted to Rs 1569.01 crore in Q4 FY21, up by 14.8% from Rs 1366.60 crore in Q4 FY20. The bank has established operations across 744 banking touchpoints while serving 20.2 lakh customers in 15 states & 2 union territories. To know more, visit www.aubank.in

About CCAvenue
CCAvenue CCAvenue, the flagship brand of Infibeam Avenues Limited, is a PCI DSS 3.2.1 compliant payments platform for eCommerce businesses in India. The organization serves millions of merchants spread across verticals such as Retail, Travel, Real Estate, Telecommunication, Government departments, and Utility billers, Hospitality, Education and Healthcare. It enables merchants to accept online payments through a spectrum of new-age payment options including 6 major Credit Cards, 97+ Debit Cards (All MasterCard / Visa / Maestro / RuPay Cards), Amex EzeClick, 58+ Net Banking, Mobile Wallets, UPI and up to 13 Multi Bank EMI options.