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CCAvenue forms an alliance with Bajaj Finserve assuring No Cost EMI options to online customers
18th September, 2023
CCAvenue forms an alliance with Bajaj Finserve assuring No Cost EMI options to online customers With the key objective of making 'No Cost EMI' facility available to a large group of online buyers, Infibeam Avenue's distinguished payment gateway company CCAvenue has entered into a partnership agreement with Bajaj Finserve Limited, a non-banking financial services company. The pact was mutually signed by the firm's officials at an assembly that was held in Pune, Maharashtra, where Bajaj Finserve is headquartered. This deal proposes to enable an extensive range of Bajaj Finserve clientele to avail No Cost EMI options for making purchases with easy installment based payments to CCAvenue merchants.

Bajaj Finserve currently caters to more than 100 million customers across the country with an aim to meet their financial needs and simultaneously also build their financial resilience. The solutions offered by the company include consumer and commercial loans, mortgages, savings products, securities brokerage services, auto financing, investments and insurance. To add, Bajaj Finserve focusses on the deployment of technology, data and analytics in order to harness innovation to the best advantage for generating seamless and personalized experiences for customers.

Teaming up with the financial company will provide CCAvenue with an upper hand in serving a huge volume of customers with Bajaj Finserve's easy and no-cost EMI options while they transact with online merchants. The No-Cost EMI (Equated Monthly Installment) feature provides freedom from paying interest on the loan amount and offers them the convenience of purchasing a product even with a limited budget at a given time. This further gives them the flexibility of paying out in small installments without having to worry about the down payment of a highly price product. CCAvenue payment gateway is already having Multi-Bank EMI options for the benefit of its merchant partners. It has been a long time provider of EMI facilities of top banks such as SBI, HDFC, ICICI, Kotak and more.

Speaking exclusively about the tie-up, the Senior Vice President at Infibeam Avenues, Mr. T. Nandakumar Menon commented, "No-Cost EMI is one of the fastest growing opportunities for businesses to grow as well as to enhance optimum convenience for their customers. We, at CCAvenue look forward to integrate and facilitate the utility of such payment options through our collaboration with some of the leading financial service providers such as Bajaj Finserve. Through this partnership, we seek to maximize the earnings of our merchants and at the same time offer a digitally secured environment to customers who are in need of more flexibility and convenience when it comes to making online purchases. Our larger goal is to flourish the nation's economy and boost its scope of digital payments together with catering to the ecommerce industry and consumers across the country."

About Bajaj Finserve Limited
Bajaj Finserve Limited Headquartered in Pune, Bajaj Finserve Limited is a non-banking financial services company focused at asset management, lending, insurance and wealth management. Its range of financial solutions includes consumer and commercial loans, savings products, commercial loans, securities brokerage services, auto financing, general and life insurance. Some of the wholly owned subsidiaries of Bajaj Finserve are Bajaj Finserve Health Ltd., Bajaj Finserve Ventures Ltd., Bajaj Finserve Asset Management Ltd., and Bajaj Finserve Mutual Fund Trustee Ltd. The organisation is also active in wind energy generation and has involved itself in social impact initiatives to drive equitable and inclusive opportunities for children and youth.

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 15 Multi Bank EMI options.