CCAvenue strengthens its payment network - Now offers IDFC Bank's net banking facility on its platform
25th October, 2016
Continuing their strong efforts towards promoting digital payments, CCAvenue, India's largest third-party payment aggregator today announced that it has added the internet banking facility of IDFC Bank to its enormous payment network. With this inclusion, CCAvenue continues to expand its Direct Debit Engine consisting of more than 55 banks, for the benefit of its diverse merchant base.
Touted as one of the youngest new-age banks in the country, IDFC Bank is a unit of infrastructure lender IDFC Ltd. Since its inception, the bank implemented a two-pronged strategy and serves customers in both metropolitan cities as well as rural districts. It is currently present in 5 states and 15 cities across the country. In the last twelve months of its operations, IDFC Bank has acquired nearly 60,000 customers and expanded its network to 70 branches, 330 micro ATMs, 14 ATMs, and several e-lobbies.
With the inclusion of IDFC Bank's Direct Debit facility on CCAvenue.com, more than a lakh merchants registered with the PG will have an opportunity to tap into a new segment of customers and accept payments from millions of IDFC Bank customers nationwide. The new payment option will help merchants leverage their website to drive more sales and boost their revenue stream substantially.
Furthermore, the addition will also benefit all IDFC Bank account holders. While transacting on eCommerce sites powered by CCAvenue, customers will be able to make payments for products/services conveniently and securely, through a direct debit to their accounts. Even those customers who are hesitant to use their debit cards in the eCommerce space would be able to make online purchases through this option.
Speaking about the integration, Mr. Vishwas Patel, Chief Executive Officer at Avenues Group expressed: "Since its launch in 2001, CCAvenue has always endeavoured to provide merchants with the most versatile set of payment options to expand their customer reach. We already have IDFC Bank's Ziggit wallet and ATM cum Debit payment facility integrated on our platform. Now with the inclusion of the bank's net banking service on CCAvenue.com, our merchants will have further access to business growing opportunities".
Being India's largest payment gateway, CCAvenue will continue expanding its network by introducing as many payment options as possible. The PG intends to promote the usage of convenient online payment solutions amongst customers and thereby enhance the earning potential of its merchants.
About IDFC Bank
Established in October 2015, IDFC Bank (BSE: 539437, NSE: IDFCBANK) is a subsidiary of India's leading integrated infrastructure finance company, IDFC Ltd (BSE: 532659, NSE: IDFC). Headquartered in Mumbai, IDFC currently has a network of nearly 70 branches, of which 50 are in non-banked rural and semi-urban locations in Madhya Pradesh, Karnataka and Andhra Pradesh. IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet (www.idfcbank.com) and mobile. In keeping with IDFC's legacy of building the nation, IDFC Bank focuses on serving the rural underserved communities and the self-employed, while continuing to support the country's infrastructure sector. IDFC Bank provides customized financial solutions to corporates, individuals, small and micro-enterprises, entrepreneurs, financial institutions and the government. With best-in-class corporate governance, rigorous risk management, experienced management and a diversified team, IDFC Bank is uniquely positioned to meet the aspirations of its customers and stakeholders. For the quarter ended June 30, 2016, the bank reported a net profit of Rs. 265 crore.
About Avenues
Headquartered in Mumbai, CCAvenue is a payments platform for ecommerce businesses in India. CCAvenue is designed to help its 1 lakh+ merchants accept online payments through a spectrum of new-age payment options including 6 major Credit Cards, 98+ Debit Cards (All MasterCard /Visa /Maestro /RuPay Cards), Amex EzeClick, 53+ Net Banking, 48 Bank IMPS, 16 Prepaid Instruments and up to 11 Multi Bank EMI options. CCAvenue now also offers UPI (Unified Payments Interface) and will soon be adding BBPS (Bharat Bill Payment System) payment facility on its platform. 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. CCAvenue has successfully achieved the ISO/IEC 27001:2013 certification in addition to being PCI DSS 3.1 compliant.
Touted as one of the youngest new-age banks in the country, IDFC Bank is a unit of infrastructure lender IDFC Ltd. Since its inception, the bank implemented a two-pronged strategy and serves customers in both metropolitan cities as well as rural districts. It is currently present in 5 states and 15 cities across the country. In the last twelve months of its operations, IDFC Bank has acquired nearly 60,000 customers and expanded its network to 70 branches, 330 micro ATMs, 14 ATMs, and several e-lobbies.
With the inclusion of IDFC Bank's Direct Debit facility on CCAvenue.com, more than a lakh merchants registered with the PG will have an opportunity to tap into a new segment of customers and accept payments from millions of IDFC Bank customers nationwide. The new payment option will help merchants leverage their website to drive more sales and boost their revenue stream substantially.
Furthermore, the addition will also benefit all IDFC Bank account holders. While transacting on eCommerce sites powered by CCAvenue, customers will be able to make payments for products/services conveniently and securely, through a direct debit to their accounts. Even those customers who are hesitant to use their debit cards in the eCommerce space would be able to make online purchases through this option.
Speaking about the integration, Mr. Vishwas Patel, Chief Executive Officer at Avenues Group expressed: "Since its launch in 2001, CCAvenue has always endeavoured to provide merchants with the most versatile set of payment options to expand their customer reach. We already have IDFC Bank's Ziggit wallet and ATM cum Debit payment facility integrated on our platform. Now with the inclusion of the bank's net banking service on CCAvenue.com, our merchants will have further access to business growing opportunities".
Being India's largest payment gateway, CCAvenue will continue expanding its network by introducing as many payment options as possible. The PG intends to promote the usage of convenient online payment solutions amongst customers and thereby enhance the earning potential of its merchants.
About IDFC Bank
About Avenues
Headquartered in Mumbai, CCAvenue is a payments platform for ecommerce businesses in India. CCAvenue is designed to help its 1 lakh+ merchants accept online payments through a spectrum of new-age payment options including 6 major Credit Cards, 98+ Debit Cards (All MasterCard /Visa /Maestro /RuPay Cards), Amex EzeClick, 53+ Net Banking, 48 Bank IMPS, 16 Prepaid Instruments and up to 11 Multi Bank EMI options. CCAvenue now also offers UPI (Unified Payments Interface) and will soon be adding BBPS (Bharat Bill Payment System) payment facility on its platform. 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. CCAvenue has successfully achieved the ISO/IEC 27001:2013 certification in addition to being PCI DSS 3.1 compliant.
INFIBEAM AVENUES
