Infibeam Avenues' CCAvenue Collaboration with ESAF Small Finance Bank Goes Live

Infibeam Avenues Ltd. today announced the successful completion of the integration of its flagship payment gateway, CCAvenue, with ESAF Small Finance Bank, enabling millions of merchants to accept Direct Debit payments seamlessly.

With the service going live now, the merchants using CCAvenue can now provide ESAF account holders with a fast, secure, and convenient way to complete digital transactions via Direct Debit and Net Banking. This collaboration, formalized through an agreement signed last year, marks a significant step in expanding digital payment accessibility.

While sharing some valuable insights on the deal, the Senior Vice President at Infibeam Avenues, Mr. T. Nandakumar Menon stated, "Net Banking is a lucrative opportunity for payment businesses and a highly preferred payment option when it comes to making online transactions. Our latest collaboration with ESAF Small Finance Bank offers us an edge in the extremely competitive fintech industry. As a result, we are not only at absolute advantage of helping CCAvenue merchants grow their revenue remarkably but also of letting millions of ESAF customers transact in a fully secured digital environment. At CCAvenue we strive to associate with the best of banking businesses in order to serve both the ecommerce industry as well as the growing consumer base while also enhance the scope of digital payments in our country."

Mr. George K. John, Executive Director, ESAF Small Finance Bank, stated, "With our extensive presence across India, ESAF Small Finance Bank is well-positioned to leverage its partnership with CCAvenue. This collaboration will enable us to better serve our diverse customer base, spanning multiple segments. It's a mutually beneficial partnership that will deliver significant value to both our customers and stakeholders. At ESAF, we're committed to staying at the forefront of customer-centric innovation".

Through this collaboration, CCAvenue payment gateway will be facilitating a large number of ESAF Small Finance Bank customers in making online purchases from CCAvenue merchants using the bank's Direct Debit or Net Banking facility for faster and secure processing. CCAvenue operates one of the largest direct debit engines in South Asia, supporting more than 54 banking partners. With ESAF Small Finance Bank joining this network, businesses gain expanded access to secure digital payment options, further reinforcing CCAvenue's position as a leading payment aggregator in the region.

ESAF Small Finance Bank (ESAF SFB) aims to provide responsive banking with its presence in urban, semi-urban and rural areas. Besides Net Banking, ESAF Bank provides a wide range of banking services such as SMS / WhatsApp banking, RTGS, NEFT, CTS, Agent banking, Mobile banking, ATMs, Debit / Credit card and more. Some of the exclusive features offered by ESAF Small Finance Bank are doorstep delivery services, free video calling facility at branches and Hrudaya Deposit Scheme, which is a unique deposit scheme that stands for a social cause.

Shares of ESAF Small Finance Bank Limited was last trading in BSE at Rs. 26.78 as compared to the previous close of Rs. 26.25. The total number of shares traded during the day was 126393 in over 711 trades.

The stock hit an intraday high of Rs. 27.10 and intraday low of 26.10. The net turnover during the day was Rs. 3381157.00.

Shares of Infibeam Avenues Limited was last trading in BSE at Rs. 17.81 as compared to the previous close of Rs. 17.31. The total number of shares traded during the day was 1786095 in over 3660 trades.

The stock hit an intraday high of Rs. 17.99 and intraday low of 17.48. The net turnover during the day was Rs. 31740992.00.

Source : Equity Bulls

Keywords

ESAFSmallFinanceBank INE818W01011 ESAFSFB InfibeamAvenues INE483S01020 CCAvenue Collaboration GoLive