Infibeam Avenues introduces Bandhan Bank’s EMI facilities to over 10 million merchants
In a significant move to enhance financial flexibility and convenience in the e-commerce sector, Infibeam Avenues Ltd, a leading fintech company, has announced that its flagship payment gateway brand, CCAvenue, is gearing up to introduce Bandhan Bank’s EMI facilities to over 10 million merchants. This strategic initiative is set to broaden the array of consumer financing options available within its merchant network.
Innovative SaaS Solutions for B2B Customers
CCAvenue is integrating Bandhan Bank’s credit card EMI facility into its robust payment processing platform. This move will grant CCAvenue’s merchants direct access to Bandhan Bank’s rapidly growing customer base, significantly enhancing their growth potential. The new payment option will complement CCAvenue’s existing card-based EMI payment feature, allowing numerous eCommerce websites powered by CCAvenue to optimize earnings and expand their operations.
CCAvenue by Infibeam Avenues Expands Payment Options with Bandhan Bank EMI
Diverse Range of Payment Methods
Widely recognized for its advanced payment technology, CCAvenue facilitates online transactions through various methods like Credit Cards, Debit Cards (MasterCard/Visa/Maestro/RuPay), Amex EzeClick, Net Banking, Mobile Wallets, UPI, and up to 15 Multi Bank EMI options. This comprehensive payment solution suite empowers merchants to effectively enhance their business operations.
Comments from Industry Leaders
T. Nandakumar Menon, Sr. Vice President – Alliances and Operations at Infibeam Avenues Ltd, expressed excitement about expanding the collaboration with Bandhan Bank. He believes this integration will significantly contribute to a seamless and efficient payment experience, a hallmark of CCAvenue’s market reputation.
Impact on Merchants and Customers
Merchants stand to benefit from leveraging Bandhan Bank’s expanding credit card user base to fuel their business growth. CCAvenue’s Multi-Bank EMI feature offers millions in India convenient access to a variety of high-value products, realizing their aspirations.
Bandhan Bank’s Impressive Growth
Founded in August 2015, Bandhan Bank made history as India’s first microfinance company to secure a universal banking license. It now serves over three crore customers through a network of over 6,200 banking outlets nationwide. The bank has seen substantial growth, with total deposits reaching Rs 1,12,074 crore and advances amounting to Rs 1,07,633 crore in the September quarter.
About Bandhan Bank
Bandhan Bank started in 2001 as a not-for-profit enterprise focusing on financial inclusion and women empowerment. Transforming into a universal bank in 2015, Bandhan Bank now operates in 34 states and union territories in India, serving more than 3 crore customers with a wide range of world-class banking products and services.
In summary, the partnership between CCAvenue and Bandhan Bank marks a new era in digital payments, significantly enhancing the financial solutions available to e-commerce businesses. This collaboration is expected to play a pivotal role in advancing the digital payment landscape and supporting the growth of online merchants.