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CCAvenue makes another first - Now offers the Direct Debit facility of Suryoday Small Finance Bank on its extensive platform
16th October, 2017
CCAvenue.com, the payment gateway preferred by more than 1 lakh Indian eCommerce businesses today announced that it has integrated the internet banking facility of Suryoday Small Finance Bank, one of the country's youngest banks, headquartered in Mumbai. Through this inclusion, registered CCAvenue web merchants will have an opportunity to offer another direct debit option on their websites and reach out to a new segment of customers. Presently, CCAvenue is the first and only payment gateway in the country to have partnered with the bank for integration of the aforementioned payment option.

Reiterating its strong commitment to financial inclusion, Suryoday Small Finance Bank officially began operations on January 23rd, 2017. Incorporated in the year 2008 as a micro finance institution, Suryoday was among the ten companies and the only one from Maharashtra to obtain a 'Small Finance Bank' license from the Reserve Bank of India (RBI). At the time of its launch, the bank had started with just one branch and 220-doorstep service centres (the branches of the microfinance entity) but has now expanded its network to more than 21 branches spanning across Maharashtra, Gujarat, Madhya Pradesh, Puducherry, Tamil Nadu and Odisha. The bank aims to increase this number to 90 by March 2018. Currently, Suryoday Bank offers a suite of the best banking solutions including loan products, deposit schemes, general and life insurance, and more to nearly 7.6 lakhs customers.

With the inclusion of Suryoday Small Finance Bank, online businesses using CCAvenue's innovative payment platform will benefit significantly. The integration will enable merchants to maximize their revenue by offering them access to the entire and fast-growing customer base of Suryoday Bank. In addition, the bank will also gain from this partnership. It will achieve enhanced brand visibility on leading eCommerce websites powered by CCAvenue. All Suryoday Bank customers will be able to make instant and secure payments on 1 lakh+ websites across various industry verticals such as hospitality, online shopping, travel, education, etc.

Being India's largest third-party payment aggregator, CCAvenue aims to continue growing its network by partnering with three times as many banks by the end of this fiscal year. As the PG includes more and more such payment options, it will only help its merchants in achieving higher sales, while also offering preferred payment options to customers in the eCommerce space.

About Suryoday Small Finance Bank
Suryoday Small Finance Bank
Suryoday - 'Sunrise' in Sanskrit, signifies a new dawn and this encompasses the bank's commitment to financial inclusion. Founded in the year 2008 as a micro finance institution, Suryoday transitioned to a small finance bank in January 2017 after receiving the license from the Reserve Bank of India. Today, the bank has a strong network of 21 branches, 220-doorstep service centres (the branches of the microfinance entity) and nearly 7.6 lakhs customers. As of March 2017, the total net worth of the bank was Rs. 505 crores. Suryoday Small Finance Bank endeavours to offer the best banking solutions to the 'banked', 'under-banked' and the 'un-banked' sections of the society. The bank's focus continues to be on ensuring the best-in-class customer experience by using NPCI's payment systems and mobile technologies, while exploring traditional banking channels and innovative banking practices. For more information, please visit www.suryodaybank.com.

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, 53+ Net Banking, 16 Prepaid Instruments, UPI and up to 13 Multi Bank EMI options. Backed by a 15-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.