Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

Infibeam Avenues Ltd to unveil CCAvenue Mobile App - World's Most Advanced Omni-channel

Posted On: 2022-06-30 22:37:16 (Time Zone: IST)

Infibeam Avenues Ltd, India's leading listed fintech company, will unveil CCAvenue Mobile App - World's most advanced Omni-channel Payment Platform with a new built-in CCAvenue TapPay - a revolutionary SoftPoS solution.

On 7th July 2022, the company will be formally launching the CCAvenue Mobile App with the TapPay feature, which will be a game-changer in the Indian market as the innovative technology converts any NFC-enabled Android phone into a POS terminal. This will revolutionize the Rs 27 billion PoS market in India as for merchants converting their existing android smartphone devices into a payment terminal by simply downloading a supported app, will be just a child's play.

With CCAvenue, the WebPay, LinkPay, QRPay, and now TapPay through contactless payments on mobile will be possible. CCAvenue Omnichannel payment app consolidates form-factor agnostic digital payments to proliferate digital payment acceptance among the largely underserved 30 million plus Indian MSMEs.

CCAvenue omni-channel app aims to address the national challenge of inadequate payments infrastructure and eliminate barriers to seamless digital adoption. According to a cross country dataset released by RBI recently, the density of population dependent on a POS terminal is 358 in India, as against about 20 in neighbouring China, 10 in Brazil, Turkey, Netherlands and Italy. The dataset comparing 22 countries, showcases India to have the lowest POS density per person.

"As per our internal research and analysis report, we have all the ingredients to garner substantial market size within the nexttwo years. We will not only become a favourite PoS alternative providerforthe current PoS machine owners(merchants) but will also become the first preference forsmall businesses acrossthe country as our revolutionary SoftPoS technology will accelerate the inclusive growth of the small entrepreneurs as well, that too at zero cost," said Vishwas Patel, Executive Director, Infibeam Avenues Ltd.

Infibeam Avenues Ltd has strategically planned to introduce this innovative SoftPoS technology in the Indian market after conducting several rounds of in-depth due diligence. The company is assured that this innovative SoftPoS technology will enable any small business or entrepreneur in the remotest corner of our country to accept digital payments easily and securely. This initiative will provide a valuable shot in the arm to our national effort to grow digital payments and reduce the economy's dependency on cash.

As per a recent report by Deloitte's 2022 Global TMT, India to have 1 billion smartphone users by 2026 and Internet-enabled devicesin the rural market will also get a push with the government's plan to fiberize all villages by 2025 under the BharatNet programe. The report also mentions that India has 1.2 billion mobile subscribers in 2021, of which about 750 million are smartphone users.

"With 5G spectrum auctions are on the way, and ever-rising smartphone penetration along with cheaper internet rates is perfect breeding & nurturing ground for SoftPoS technology, which will further increase the use of cashless transaction adoption across the country," said Vishal Mehta, Managing Director, Infibeam Avenues Ltd.

As per Infibeam Avenues Ltd's product strategy team analysis, Infibeam is perfectly poised to reap the benefits of high mobile penetration in the Indian market with its SoftPoS technology, which requires an android phone for its high adoption amongst the merchants. The current high-speed internet 4G is already a perfect booster for CCAvenue MobileApp's advanced omni-channel payment platform with the new built-in CCAvenue TapPay feature; after 5G spectrum allocation, Infibeam's SoftPoS technology will rule the roost in India's Rs 27 billion PoS market.

Shares of Infibeam Avenues Limited was last trading in BSE at Rs. 14.08 as compared to the previous close of Rs. 13.17. The total number of shares traded during the day was 581405 in over 2130 trades.

The stock hit an intraday high of Rs. 14.68 and intraday low of 12.91. The net turnover during the day was Rs. 7987788.00.

Click here to send ur comments or to

Other Headlines:

Phoenix Mills Limited - Rating outlook revised to 'Positive', Rating reaffirmed

Gladiator Stocks - Sanghvi Movers - ICICI Direct

CIL Nova Petrochemicals's Manufacturing Plant shut down for maintenance work of Captive Power Plant

Birlasoft Ltd announces record date for buyback of equity shares

Getalong Enterprise Ltd updates on export orders in June 2022

Zee Media Corporation Limited announces resignation of CEO

Mahindra's Farm Equipment Sector Sells 39825 Units in India during June 2022

PVP Ventures Limited updates on corporate guarantee

CSL Finance Limited - Business Update for Q1 FY2022-23

Hero MotoCorp has sold 13.90 lakh units in Q1 FY202-23

Mazagon Dock Shipbuilders launches Fuel Cell Electric Vessel prototype

NFL records total Fertilizer Sale of 15.58 Lakh MT in April - June, 2022

Mafatlal Industries Ltd completes sale of Vrata Tech Solution Pvt. Ltd

Q1 FY2022-23 Business Update of Housing Development Finance Corporation Ltd

Brigade Enterprises Ltd arm updates on acquisition

Ashoka Buildcon Limited JV emerges lowest bidder for Rs. 611 crore project

Escorts Construction Equipment volume grew by 22.5 percent in June 2022

TVS Motor Company Sales Grows By 22% In June 2022

V-Mart Retail Ltd opens 11 new stores in Q1 FY2022-23

KVB Celebrates International MSME Day

Asian Granito's wholly owned subsidiary Future Ceramics commence work on Glazed Vitrified plant at Morbi

ARIES Agro Ltd gets two awards

Bharat Forge successfully completes acquisition of JS Autocast

WardWizard registers YoY growth of 127% for June'22 to June'21, Sells 2,125 units of electric two-wheelers

Mahindra Auto sells 26620 SUV's and 54096 vehicles overall in June 2022

NCC Ltd allots 70 lakh shares

Hindustan Foods completes acquisition of Reckitt Benckiser Scholl India Pvt Ltd

VA Tech Wabag Ltd resumes AGCC Russia project

APL Apollo Tubes Ltd Q1FY23 Sales Volume of 422,788 Ton

Mahamaya Steel Industries Ltd reports 6.75% MoM increase in sales for June 2022

Coal India's production sets record increase of 36 MTs in Q1 FY'23

Maruti Suzuki's sales in June 2022 at 155,857 units

Ashank Desai Awarded 'Lifetime Achievement Award' by Dataquest

NTPC commissions 100MW Ramagundam Floating Solar PV Project

Datamatics recognized in the 2022 Gartner® Magic Quadrant™ for Finance and Accounting BPO

EIL and CSIR-CSIO ink agreement for joint commercialization of Earthquake Warning System

Balkrishna Paper Mills Ltd shuts plant for annual maintenance

Man Infraconstruction to acquire stake in Royal Netra Constructions Pvt Ltd

Sundaram Finance announces demerger of the Fund Accounting Business of Sundaram Fund Services Limited

Steel Strips Wheels Ltd posts 35% YOY Growth in Net Sales in June 2022

Escorts Agri Machinery sold 10,051 tractors in June 2022

IRB Infra's SPV achieves receives Completion Certificate for its Hapur to Moradabad Six Laning Highway Project in Uttar Pradesh

PVP Ventures Ltd enters into agreement with Casagrand Builders for joint development

Wipro updates on sale of preferred stocks of Harte Hanks Inc

CSB Bank Ltd revises interest rates from July 1, 2022

Jubilant HollisterStier to expand its CMO manufacturing facility at Montreal, Canada

CCI approves proposed combination involving Google International LLC and Bharti Airtel Limited

MOIL revises product prices from July 1, 2022

Wonderla Holidays Ltd to expand its business to Bhubaneshwar, Odisha

Cosmo Films appoints Justin Glass as President for North America operations

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020