Bengaluru, March 18, 2025 – Infibeam Avenues Ltd. today announced the successful completion of the integration of its flagship payment gateway, CCAvenue, with ESAF Small Finance Bank, enabling millions of merchants to accept Direct Debit payments seamlessly.

With the service going live now, the merchants using CCAvenue can now provide ESAF account holders with a fast, secure, and convenient way to complete digital transactions via Direct Debit and Net Banking. This collaboration, formalized through an agreement signed last year, marks a significant step in expanding digital payment accessibility.

While sharing some valuable insights on the deal, the Senior Vice President at Infibeam Avenues, Mr. T. Nandakumar Menon stated, “Net Banking is a lucrative opportunity for payment businesses and a highly preferred payment option when it comes to making online transactions. Our latest collaboration with ESAF Small Finance Bank offers us an edge in the extremely competitive fintech industry. As a result, we are not only at absolute advantage of helping CCAvenue merchants grow their revenue remarkably but also of letting millions of ESAF customers transact in a fully secured digital environment. At CCAvenue we strive to associate with the best of banking businesses in order to serve both the ecommerce industry as well as the growing consumer base while also enhance the scope of digital payments in our country.”

Mr. George K. John, Executive Director, ESAF Small Finance Bank, stated, “With our extensive presence across India, ESAF Small Finance Bank is well-positioned to leverage its partnership with CCAvenue. This collaboration will enable us to better serve our diverse customer base, spanning multiple segments. It’s a mutually beneficial partnership that will deliver significant value to both our customers and stakeholders. At ESAF, we’re committed to staying at the forefront of customer-centric innovation”.

Through this collaboration, CCAvenue payment gateway will be facilitating a large number of ESAF Small Finance Bank customers in making online purchases from CCAvenue merchants using the bank’s Direct Debit or Net Banking facility for faster and secure processing. CCAvenue operates one of the largest direct debit engines in South Asia, supporting more than 54 banking partners. With ESAF Small Finance Bank joining this network, businesses gain expanded access to secure digital payment options, further reinforcing CCAvenue’s position as a leading payment aggregator in the region.

ESAF Small Finance Bank (ESAF SFB) aims to provide responsive banking with its presence in urban, semi-urban and rural areas. Besides Net Banking, ESAF Bank provides a wide range of banking services such as SMS / WhatsApp banking, RTGS, NEFT, CTS, Agent banking, Mobile banking, ATMs, Debit / Credit card and more. Some of the exclusive features offered by ESAF Small Finance Bank are doorstep delivery services, free video calling facility at branches and Hrudaya Deposit Scheme, which is a unique deposit scheme that stands for a social cause.

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Mr. Amresh Acharya, MD & CEO, Loylty Rewardz and Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd, signed the agreement on the side-lines of The Global Fintech Fest (GFF) 2024, Mumbai. GFF is the world’s biggest fintech conference, renowned for its transformative thought leadership and exciting product launches.

“We at CCAvenue staunchly believe in providing our business partners with the latest fintech innovations along with new age payment methods that drive revenue,” said Mr. T. Nandakumar Menon, Sr. Vice President – Alliances and Operations, Infibeam Avenues Ltd. “Our win-win partnership with Loylty Rewardz will enable consumers to easily access and utilize their reward points while shopping on innumerable merchant websites powered by CCAvenue payment gateway. This collaboration will boost customer retention considerably for our partner brands, thereby fuelling growth of their online businesses.”

Loylty Rewardz is an Indian customer engagement company delivering end-to-end loyalty solutions. Through its module called Rewardz Hub, customers of over 20 bank and retail loyalty programs managed by Loylty Rewardz can seamlessly redeem their reward points on online payments powered by CCAvenue. The loyalty programme market in India is expected to touch USD 5.37 billion in 2024 and USD 8 billion by 2028. It may almost double by 2033 touching USD 14.5 billion.

“With rising consumption and income levels of consumers, the loyalty industry in India is poised for accelerated growth,” said Amresh Acharya, Loylty Rewardz, adding that the growing spending power of the Indian consumer is prompting many global and domestic brands to chase a larger share of India’s market, thus expanding loyalty and engagement solutions in the market.

Commenting on this partnership, Mr. Amresh Acharya stated: “At Loylty Rewardz, we are dedicated to innovation in consumer engagement. Our alliance with CCAvenue, a leading payment aggregator will enhance customers’ shopping experience through intuitive and seamless reward point redemption in sync with secure and efficient payment processing.”

With Rewardz Hub integrated into the checkout page on CCAvenue-powered merchant websites, millions of consumers in India can make payments by fully or partially redeeming reward points they have earned on their debit or credit cards.

Through this collaboration, 5000 CCAvenue-powered merchants will be able to reach 500mn unique customers with reward points worth overall INR 20bn accrued through Loylty Rewardz’s retail and banking loyalty programs. Customers stand to enjoy greater convenience, affordability and a superior shopping experience across these online merchants.

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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.

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