CCAvenue

Gandhinagar, September 05, 2024 - Infibeam Avenues Ltd (BSE: 539807, NSE: INFIBEAM), India's premier publicly listed fintech company, has announced a collaboration between its flagship digital payments platform, CCAvenue, and ShopSe India, a wholly digital-first EMI/BNPL marketplace.

The partnership offers a flexible payment option to millions of consumers across India, while completing payments on innumerable merchant websites powered by CCAvenue payment gateway.

Buy Now, Pay Later (BNPL), a modern financing solution, is transforming how Indian consumers pay for online purchases. It provides ready credit, allowing shoppers to buy expensive items and achieve their aspirations. BNPL's rapid growth in India is due to its simplicity and digital accessibility over traditional manual credit options

Mr. Pallav Jain, Co-founder & CEO of ShopSe India and Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd, inked the agreement on the side-lines of The Global Fintech Fest (GFF) 2024, Mumbai. GFF has evolved to become the world's largest fintech conference, reputed for its thought leadership and product launches.

"By teaming up with end-to-end affordability platform ShopSe India, CCAvenue will be able to tap into an increasingly popular payment option for the benefit of its mammoth merchant base," commented Mr. T. Nandakumar Menon, Sr. Vice President - Alliances and Operations, Infibeam Avenues Ltd. "Our merchants will soon be able to reach out to a larger universe of consumers, comprising millions of ShopSe's users in order to drive revenue considerably. They can provide their customers the convenience of a swift and seamless checkout along with the flexibility of easy repayment at a later date."

Pallav Jain of ShopSe India, stated, "ShopSe is dedicated to providing a frictionless end-to-end digital affordability option to millions of consumers across the country when shopping on lakhs of business websites in India. Our strategic alliance with CCAvenue will help consolidate our digital finance platform, empowering our customers with an affordable, user-friendly means of payment for high value products."

With a comprehensive network comprising 50,000 plus merchants across India, 200 plus brands serviced and 15 plus major banks/NBFCs, ShopSe India is an instant no-cost EMI or pay-later service (BNPL) player, which specialises in providing a common digital marketplace to lenders, retailers and customers making purchases online or at stores. The new age fintech is revolutionizing 'Point of Purchase' lending by bringing together the needs of the consumers and the lenders at the time of purchase, enabling the retailer to close the sale immediately.

About Shopse
India's largest EMI platform ShopSe is an instant no-cost EMI or pay-later service, specializing in providing a common digital marketplace to lenders, retailers and customers making purchases online or at stores. ShopSe is revolutionizing Point of Purchase lending by bringing together the consumers' needs and the lenders at the time of purchase that helps the retailer close a sale. It is the only Indian fintech platform providing instant customizable credit solutions to new to credit customers by digitally examining real time credit eligibility without any tedious documentation processes. Since its inception in 2020, ShopSe has seen tremendous growth by partnering with 200+ brands and having a presence at over 50,000 retailers across India. To learn more about their services, visit https://www.getshopse.com/

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 financial institutions in both domestic (India) as well as international markets. Infibeam Avenues' international operations are based in the United Arab Emirates, Australia, and the United States of America. We also have business presence in Oman working with three of the largest banks in the country.