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Infibeam Avenues Ltd’s shares were up by 5.77 per cent as the company collaborated with Bandhan Bank to integrate EMI facilities into its flagship payment gateway brand, CCAvenue. The company reported that the move is designed to offer more consumer financing options to over 10 million merchants.
The integration will see Bandhan Bank’s credit card EMI facility incorporated into CCAvenue’s payment-processing platform. This initiative aims to provide CCAvenue’s merchant base with direct access to Bandhan Bank’s customer network. Merchants will now have an additional payment option to optimise earnings, especially in the e-commerce sector.
“Our merchants stand to gain significant advantages by leveraging the rapidly expanding user base of the Bandhan Bank’s credit cards to fuel the growth of their businesses. CCAvenue presently extends EMI options from all major banks, and our Multi-Bank EMI feature empowers millions across India to realize their aspirations by offering convenient access to a variety of high-value products,” said T. Nandakumar Menon, Sr. Vice President - Alliances and Operations, Infibeam Avenues.
The shares were up by 7.37 per cent to ₹23.35 at 1:57 on the BSE.
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