Infibeam enters Oman e-commerce market, ties up with Bank Muscat
Published by the Economic Times | 24th November, 2020
Infibeam Avenues, the BSE listed financial technology solutions provider, has entered Oman to offer payment processing services and tied up with Bank Muscat.
The company is set to offer next-gen payment processing services under the flagship brand CCAvenue to merchants in ecommerce sector in Oman.
"Working with Bank Muscat, the leading financial services provider in the Sultanate of Oman, reinforces our long held belief that the quality of the solutions we have built here in India can better any global one," Vishwas Patel, Executive Director, Infibeam Avenues NSE -5.25 % said.
Infibeam expanded its operations to the UAE, Saudi Arabia and the US this year. "We shall also continue to dominate the Indian landscape with our platform deployments for the Government eMarkeplace ( Gem.Gov.in), Jio platforms Limited and J P Morgan Chase bank and at the same time pursue new opportunities with our investment in So Hum to apply for the New Umbrella Entity license to build Next Generation Retail Payment System that aspires to get the 400 million feature phone users to transact digitally" said Patel.
Infibeam has entered into definitive agreement with Bank Muscat, to offer its acquiring processor services to the bank, the company said. "Under the agreement, Infibeam Avenues, through its digital payment solution, CCAvenue Payment Gateway Service (CPGS), will process online card transactions of various payment networks for Bank Muscat and help the Bank to authorize online payment for its merchants which intends to boost fast growing eCommerce sector in the region, it said.
Bank Muscat has been closely associated with the progressive march of the nation, participating in a variety of development projects and initiatives aimed at boosting Oman's economy, the statement added.
The company is set to offer next-gen payment processing services under the flagship brand CCAvenue to merchants in ecommerce sector in Oman.
"Working with Bank Muscat, the leading financial services provider in the Sultanate of Oman, reinforces our long held belief that the quality of the solutions we have built here in India can better any global one," Vishwas Patel, Executive Director, Infibeam Avenues NSE -5.25 % said.
Infibeam expanded its operations to the UAE, Saudi Arabia and the US this year. "We shall also continue to dominate the Indian landscape with our platform deployments for the Government eMarkeplace ( Gem.Gov.in), Jio platforms Limited and J P Morgan Chase bank and at the same time pursue new opportunities with our investment in So Hum to apply for the New Umbrella Entity license to build Next Generation Retail Payment System that aspires to get the 400 million feature phone users to transact digitally" said Patel.
Infibeam has entered into definitive agreement with Bank Muscat, to offer its acquiring processor services to the bank, the company said. "Under the agreement, Infibeam Avenues, through its digital payment solution, CCAvenue Payment Gateway Service (CPGS), will process online card transactions of various payment networks for Bank Muscat and help the Bank to authorize online payment for its merchants which intends to boost fast growing eCommerce sector in the region, it said.
Bank Muscat has been closely associated with the progressive march of the nation, participating in a variety of development projects and initiatives aimed at boosting Oman's economy, the statement added.
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