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

| More

Infibeam Avenues Ltd's flagship payment brand, CCAvenue, strengthens payment portfolio to offer EMI solutions to IDFC First Bank

Posted On: 2024-02-08 11:06:37 (Time Zone: IST)

Infibeam Avenues Ltd, a listed fintech company, announces a strategic alliance between its flagship payment brand, CCAvenue, and IDFC First Bank. This collaboration aims to provide extensive credit card EMI solutions, further enhancing the payment experience for millions of Bank's customers nationwide.

The partnership with IDFC First Bank marks a major development for CCAvenue, reinforcing its commitment to delivering seamless and innovative payment solutions. With this collaboration, CCAvenue will offer easy payment services, complementing the existing BNPL (Buy Now, Pay Later) facilities already offered to merchants.

This move aligns with CCAvenue's vision to stay at the forefront of the rapidly evolving fintech landscape. The integration of CCAvenue's EMI solutions into IDFC First Bank's credit card systems will offer customers a convenient and flexible payment experience, setting a new standard in the industry.

Notably, CCAvenue has a history of successful partnerships, having previously collaborated with various banks to cater to the growing demand in the credit card EMI market. The latest alliance with IDFC First Bank further strengthens CCAvenue's position as a preferred payment gateway, providing a diverse range of financial services to its extensive merchant base.

"India is currently experiencing a remarkable surge in the demand for EMI cards as a flexible payment method, both for online and offline purchases. At Infibeam Avenues, we have the technological expertise necessary to leverage this thriving credit card market with our advanced EMI solutions. We have already secured a substantial market share through various partnerships with banks in the EMI credit card market space," said Mr. T. Nandakumar Menon, Vice President - Alliances and Operations at Infibeam Avenues Ltd.

As per research conducted by Home Credit India, 49% of the borrowers chose EMI credit in the year 2023 based on higher trust and quick disbursals. Recent RBI data reveals that the credit card transactions in December 2023 reported a 32% year-on-year growth from INR 1.25 trillion in December 2022, indicating a robust expansion. RBI data also revealed that credit cards in India are soon to hit the 100 million mark. As of December 2023, there were 97.9 million credit cards in the country.

Considering the expected EMI credit growth opportunity in India, Credit card provider banks have shifted their focus towards offering Easy Buy EMI cards to their privileged customers, thereby enhancing their purchasing power. Most of the banks aim to provide products and services related to retail banking, wholesale banking and investment banking.

The partnership with IDFC First Bank is a testament to CCAvenue's ongoing efforts to provide cutting-edge solutions that meet its users' diverse needs.

Shares of Infibeam Avenues Limited was last trading in BSE at Rs. 36.29 as compared to the previous close of Rs. 36.52. The total number of shares traded during the day was 5792574 in over 21110 trades.

The stock hit an intraday high of Rs. 37.30 and intraday low of 34.40. The net turnover during the day was Rs. 207793304.00.

Click here to send ur comments or to

Other Headlines:

The South Indian Bank Ltd approves 1:4 rights issue at Rs. 22 per share

Club Mahindra partners with The Marmara ?i?li Resort in Turkey to provide its members with holiday options in Istanbul

PVP Ventures Ltd announces a Joint Development with Brigade Enterprises Ltd

Mangal Credit and Fincorp Ltd approves preferential issue

Vikas Lifecare Ltd's Subsidiary PME Entertainment Presents Two Spectacular Events in Dubai

Genpharmasec Limited allots 27,68,59,850 Rights Equity Shares

Dow Jones and Infosys Introduce Upgraded Preference Center for Wall Street Journal Subscribers

Union Bank of India sanctions OTS of Kridhan Infra Ltd

Ceinsys Tech Ltd receives order

Ashiana Housing Ltd launches Phase 1 of Ashiana Nitara

Apollo Micro Systems Ltd receives term loan sanction from SBI

Brigade Group to expand its Residential and Hospitality Portfolios in Chennai

LTIMindtree and Eurolife FFH Sign MoU to Setup Gen Al and Digital Hubs in Europe and India

63 moons unveils disruptive technology in Cybersecurity

Airtel strengthens its retail footprint in Vijaywada

TVS Eurogrip exhibits prominent agri related products at Krishi Darshan Expo in Haryana

Infosys Foundation and the Centre for Cellular and Molecular Platforms to Strengthen Maternity Care in Karnataka

Mafatlal Industries Limited's Annual Report wins Platinum Award

Ambuja Cements Proposes Setting up a 4 MTPA Cement Grinding Unit in Godda, Jharkhand

Airtel adds 39 new stores in Chennai, doubles its retail store presence

PennWhite Limited, UK forms subsidiary in India

UltraTech Cement Limited commissions 1.8 MTPA brownfield cement capacity at Kotputli, Rajasthan

HFCL to Expand Presence in Europe with setting up of Optical Fiber Cable Plant in Poland

Vipul Organics participates in PAINTINDIA, the largest paint exhibition of the country

Ericsson and Airtel successfully demonstrate 5G FWA functionality on mmWave

Co-op Expands Partnership with TCS with a Cloud-First Strategy to Support its Business Growth and Sustainability Roadmap

Popeyes India brings a dash of Louisiana to the heart of Delhi with its first store in Chandni Chowk

Patel Engineering Ltd JV declared L1 for irrigation project worth Rs. 525.36 crores

Cosmo First wins two prestigious awards

Airtel adds 4 new stores, doubles its retail store presence in Bhubaneshwar

Zen Technologies Ltd receives order worth Rs. 93 crores

Lumos selects STL as a partner to build transformative 100% fiber optic internet infrastructure in the US

BluSmart inks multi-year PPA with Tata Power arm

Zaggle Prepaid Ocean Services Ltd enters into agreement with Arcadis Consulting

CarLelo unveils new brand identity at Women Premier League 2024

Airtel doubles its retail store presence in Amritsar, adds 3 new stores

G R Infraprojects Ltd to sell 7 subsidiaries to Bharat Highways InvIT

Bright Outdoor Media Ltd gets BSE nod for preferential issue

Valiant and CXR cooperation for Cyber Security solutions in France and neighboring European countries

Kilburn Engineering Ltd expands portfolio with acquisition of M.E Energy

Seedlings India Pvt Ltd gets patent

Garment Mantra Lifestyle Ltd to set up new wholesale hub in Surat

Satin Creditcare forays into Telangana and Andhra Pradesh

Revolt Motors accelerates presence with 15 New Dealerships Across India

Wipro and Intel Foundry announce new collaboration to Advance Chip Design and Development

Godrej Industries Limited - Chemicals features in The CDP Climate Change Leadership Index

ESAF Small Finance Bank gets ISO certification for operations

ABB India reports net profit of Rs. 338.66 crores in Q4 CY2023

IMplus Capitals Ltd consolidated Q3 FY24 net profit at Rs. 41.86 crores

GR Tarakote Sanjichhat Ropeway Pvt Ltd signs concession agreement with Shri Mata Vaishno Devi Shrine Board

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

disclaimer copyright © 2005 - 2020