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CCAvenue partners with BoB for multi-bank EMI facility to businesses
8th Dec, 2019 | Published by ibsintelligence.com, Gandhinagar
India's leading multi-channel payment platform CCAvenue has partnered with public sector lender Bank of Baroda (BoB) to offers it's Multi-Bank EMI offer. The inclusion of this new payment option will further consolidate the existing card-based EMI payment feature, enabling over 1.2 lakh eCommerce websites to maximise their revenue and grow their businesses considerably. CCAvenue, a part of leading digital payments and eCommerce company Infibeam Avenues, already provides maximum EMI options in the country in partnership with 15 leading banks.

Vishwas Patel, Executive Director at Infibeam Avenues Limited, said, "We constantly strive to widen the reach of e-commerce businesses in India by enabling them to offer the maximum number of payment options to their customers. Our merchant partners can leverage Bank of Baroda's EMI facility to widen their customer base, drive more sales and increase their revenue stream substantially."

Bank of Baroda is India's third-largest bank with a strong domestic presence due to its large distribution network of 9,500+ branches, 13,400+ ATMs and 1,200+ self-service e-lobbies spread across the country. The Bank also has a significant international presence with a network of 100 overseas offices spanning 21 countries. Bank of Baroda's mammoth customer base of 127 million includes a large number of credit card customers with ready access to the bank EMI facility.

Responding to changing consumer needs, Infibeam Avenues has strengthened the focus on Bank EMI offerings to cater to the 'Buy Now, Pay Later' aspirations. The bank's customers can make purchases for high-value products in easy instalments over a suitable timeframe. Further, the company is also planning to incorporate cardless EMI in its payment solutions and has begun partnering with major players in this segment, the company said in a statement.

Infibeam Avenues offers digital payment solutions and enterprise software platforms to businesses and governments across industry verticals and its enterprise software platform hosts India's largest online marketplace for government procurement (Government e-Marketplace, GeM). Besides India, the company is also expanding its operations in the Middle East.