BWI: United Bank of India Ties up with CCAvenue.com for Direct Debit Facility

Press release from Business Wire India
Source: Avenues India Pvt. Ltd
Friday, December 02, 2011 03:07 PM IST (09:37 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Information technology, Retailers, Telecommunications; Technology
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United Bank of India Ties up with CCAvenue.com for Direct Debit Facility


Mumbai, Maharashtra, India, Friday, December 02, 2011 -- (Business Wire India) -- Net Banking is one of the most popular payment options in the country. CCAvenue.com has tied up with United Bank of India and has added its net banking facility to its direct debit engine â?" which is India's largest engine. CCAvenue.com has always strived to bring its merchants, the best in terms of payment options.

United Bank of India is the newest payment option to tie up with CCAvenue.com. Now United Bank of India account holders can shop online at thousands of websites powered by the CCAvenue.com payment gateway and pay online through a direct debit to their United Bank of India account.

United Bank of India is one of the 14 banks, which were nationalized on July 19, 1969. Its predecessor The United Bank of India Ltd was formed in 1950 with the amalgamation of four banks viz. Comilla Banking Corporation Ltd, Bengal Central Bank Ltd, Comilla Union Bank Ltd and Hooghly Bank Ltd. The origin of the bank thus goes as far back as 1914. Services offered by the bank include Retail banking, Corporate banking, International banking, Life Insurance products etc.

CCAvenue.com merchants also benefit from this direct debit agreement. Today, United Bank of India is 100% CBS enabled with more than 1,600 branches and offices and has a business of more than Rs. 1 lac crore. Therefore, CCavenue.com merchants can reach out to a much larger number of customers through this agreement.

Through this direct banking agreement, CCAvenue.com re-establishes its place as India's largest direct debit engine with 40 (and counting) prominent Indian banks.

Mr. Vishwas Patel, CEO, Avenues says, "Since CCAvenue.coms' launch in 2001, we have always endeavored to provide our CCAvenue merchants with the widest payment network. Year after year, we have consistently added to our payment network going from a single bank to around 40 banks. We are pleased to announce that we have added yet another bank 'United Bank of India' to India's largest direct debit engine."

About United Bank of India

UBI played a significant role in the spread of banking services in different parts of the country, more particularly in Eastern and North-Eastern India. UBI has sponsored 4 Regional Rural Banks (RRB) one each in West Bengal, Assam, Manipur and Tripura. These four RRBs together have over 1000 branches. United Bank of India has contributed 35% of the share capital/ additional capital to all the four RRBs in four different states. UBI is also known as the 'Tea Bank' because of its age-old association with the financing of tea gardens. It has been the largest lender to the tea industry.

The Bank has three full fledged Overseas Branches one each at Kolkata, New Delhi and Mumbai with fully equipped dealing room and SWIFT terminal . Operations of all the branches have since been computerized and Electronic Fund Transfer System came to be implemented in the Bank's branches across the country. The Bank has ATMs all over the country and customers can use United International Debit Card at all VISA ATMs across the globe.

About Avenues

Incorporated in the year 2001, Avenues is the parent company of CCAvenue.com and is a zero-debt company that has been profitable from its inception. Avenues is headquartered in Mumbai, India and has subsidiary companies and offices in USA and Singapore. Avenues has developed several innovative, cutting-edge ASP hosted solutions that are used by thousands of eMerchants globally.

Beginning as a single product company that catered to the local market, Avenues has become a multi-product company that operates on a global scale. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 125 persons spanning across all offices.

Avenues has three Business Units namely - Avenues Commercial Services, Avenues Travel Industry Services and Avenues Community Related Services. For more information, log onto: www.Avenues.info.

About CCAvenue.com

CCAvenue.com® is South Asia's largest payment gateway solution powering thousands of eMerchants with real time, multi-currency, multiple payment options and online payment processing services. The solution is powered by proprietary technology that integrates transaction-processing, advance shopping cart, auction payment collection facility, fraud control, financial reporting and order tracking. CCAvenue.com is the only complete PG solution in the region that has the unique ability to offer the full spectrum of Internet payment options, including:

-- All types of Credit Card processing through Multiple Banks and Card Associations
-- Debit Card processingÂ
-- ATM cum Debit Card processing
-- Direct Debit to bank accounts of 40+ Indian Banks (India's largest direct debit engine), 20+ Chinese Banks and 3 Singapore Banks
-- Mobile Payment Solutions via PayMateÃ,®, SBI Freedom, UMobile
--Cash Card Processing of ITZ Cash, Done Card, OxiCash and NoQ24x7

For more information, visit: www.CCAvenue.com



CONTACT DETAILS
Anjali Mirchandani, Avenues India Pvt. Ltd, +91(22) 67425555,, anjali.mirchandani@avenues.info

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, IT, RETAIL, TELECOMMUNICATIONS, TECHNOLOGY

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