More than 9.5 million new customers for CCAvenue merchants - Punjab & Sind Bank now live on India's largest Direct Debit Engine
25th October, 2016
CCAvenue, India's largest third-party payment aggregator announced today that it has added the direct debit facility of Punjab & Sind to its expansive network of 200+ payment options. At a time when internet banking continues to remain a popular choice of payment amongst online Indian consumers, this integration will enable CCAvenue merchants in accelerating their business growth further.
Punjab & Sind Bank, which began operations in the year 1908 currently has an extensive network of 1466 branches and 1268 ATMs spanning across the length and breadth of the country. The bank offers a plethora of comprehensive products and services including personal banking, corporate banking, NRI banking, social banking and more to a humungous customer base of nearly 9.5 million users. In addition to general banking services such as Internet Banking and SMS Banking, Punjab & Sind Bank also offers a proprietary and user-friendly mobile banking app, called PSB mPay that allows immediate fund transfers.
Through its alliance with Punjab & Sind Bank, CCAvenue is offering merchants an opportunity to enlarge their customer base and proliferate their sales, thereby improving the overall profit potential of the business. Moreover, this inclusion will enable millions of Punjab & Sind Bank account holders to make instant and easy payments on more than a lakh CCAvenue powered websites, through a direct debit to their accounts.
Commenting on the latest integration, Mr. Vishwas Patel, Chief Executive Officer at Avenues Group said: "At CCAvenue, we have always been laser-focused on expanding our payment network to ensure that merchants do not miss out on any sales opportunities owing to a lack of the customers' preferred payment choices. To further this aim, we consistently partner with as many banks as possible. The latest integration of Punjab & Sind Bank will be a valuable addition to our platform. It will offer our merchants access to the massive customer base of Punjab & Sind Bank and maximize their revenue earning potential substantially".
About Punjab & Sind Bank
Headquartered in New Delhi, Punjab & Sind Bank was founded by Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh in the year 1908 to help the weaker sections of the society. Through the last 108 years of operation, the nationalized bank has significantly grown its network to 1466 branches and 1268 ATMs, and sponsors a regional rural bank called Sutlej Gramin Bank. The bank's primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services. It was the first bank in Northern India to obtain ISO 9002 certification for selected branches. Owing to its service excellence, Punjab & Sind Bank has been the recipient of ASSOCHAM's Social Banking Excellence Award - 2015 under Small Bank Class and Rural Banking Category. For the quarter ended March 2016, the bank registered an impressive business growth of Rs. 156527 crore. To know more, visit www.psbindia.com.
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.
Punjab & Sind Bank, which began operations in the year 1908 currently has an extensive network of 1466 branches and 1268 ATMs spanning across the length and breadth of the country. The bank offers a plethora of comprehensive products and services including personal banking, corporate banking, NRI banking, social banking and more to a humungous customer base of nearly 9.5 million users. In addition to general banking services such as Internet Banking and SMS Banking, Punjab & Sind Bank also offers a proprietary and user-friendly mobile banking app, called PSB mPay that allows immediate fund transfers.
Through its alliance with Punjab & Sind Bank, CCAvenue is offering merchants an opportunity to enlarge their customer base and proliferate their sales, thereby improving the overall profit potential of the business. Moreover, this inclusion will enable millions of Punjab & Sind Bank account holders to make instant and easy payments on more than a lakh CCAvenue powered websites, through a direct debit to their accounts.
Commenting on the latest integration, Mr. Vishwas Patel, Chief Executive Officer at Avenues Group said: "At CCAvenue, we have always been laser-focused on expanding our payment network to ensure that merchants do not miss out on any sales opportunities owing to a lack of the customers' preferred payment choices. To further this aim, we consistently partner with as many banks as possible. The latest integration of Punjab & Sind Bank will be a valuable addition to our platform. It will offer our merchants access to the massive customer base of Punjab & Sind Bank and maximize their revenue earning potential substantially".
About Punjab & Sind 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
