CCAvenue

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."

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 to the unbanked and underbanked areas with its presence in all urban, semi-urban and rural areas. Besides Net Banking, ESAF bank provides a wide range of banking services such as SMS banking, RTGS, NEFT, CTS, Agent banking, Mobile banking, ATMs, Debit 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.

About ESAF Small Finance Bank
Established in the year 2017, ESAF Small Finance Bank is a new age social bank that operates throughout the country with its base in Thrissur city of Kerala. The bank mainly focusses at providing services to the unbanked/underbanked areas in urban, semi-urban and rural areas. ESAF aims to be established as a leading social bank that provides equal opportunities to the society through universal access and financial deepening and promotes financial inclusion, livelihood and economic development as a whole. The banking services catered by ESAF include Mobile banking, ATMs, Internet Banking, Savings Account, Current Account, Recurring Deposit, Fixed Deposit, Loans, Micro-Banking, etc. As on 31st March 2022, ESAF Small Finance Bank has 575 banking outlets spread across 21 states and 2 Union Territories.

About 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.

About Infibeam Avenues Limited
Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies. Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. The company processed transaction worth INR 7 trillion (US$ 86 billion) in FY24. Company currently has over 10 million plus clients across digital payments and enterprise software platforms. The company's vast clientele includes merchants, enterprises, corporations, governments, and