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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As per the official communication received by Rediff from National Payments Corporation of India (NPCI) on Friday, it has been informed about the approval of TPAP license and also that Axis Bank will act as Payment System Provider (PSP) bank.

This license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues’ strategic entry into the consumer-facing digital payments sector. The company had previously applied for the TPAP license following its acquisition of a controlling stake in Rediff in 2024.

Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd., stated, “We are thrilled that our subsidiary company has received the TPAP license from NPCI, which allows us to extend UPI services through RediffPay. This milestone aligns with our vision to enhance financial inclusivity and offer seamless digital payment solutions to consumers across India.”

RediffPay aims to leverage Rediff’s substantial web traffic and Infibeam’s fintech expertise to provide a user-friendly platform for secure and efficient digital transactions. The company plans to introduce a range of financial services, including credit and wealth management products, to cater to the diverse needs of its users.

This development follows Infibeam Avenues’ recent achievements, including receiving the final authorization from the Reserve Bank of India to operate as a Payment Aggregator for its flagship payment gateway brand, CCAvenue.

With the TPAP license, RediffPay is poised to become a significant player in India’s digital payments landscape, contributing to the nation’s ongoing digital transformation.

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For the first time, BHIM App users will be able to make prepaid mobile recharges on the BHIM App platform. Until now, BHIM App had mobile bill payment options for post-paid mobile bills.

In addition to enabling prepaid mobile recharges, BillAvenue  will undertake deep integration of BHIM (Bharat Interface for Money) as a payment option within Infibeam Avenues Ltd’s flagship payment brand- CCAvenue Payment Gateway. This integration ensures that BHIM will be prominently featured as a distinct payment method for the extensive network of merchants using the CCAvenue Payment Gateway. As a result, both BHIM users and CCAvenue merchants will benefit from the convenience of direct payments via BHIM at the CCAvenue checkout.

Mr. Vivek Patel, Chief Business Officer of BillAvenue, commented on the partnership, saying, “Collaborating with BHIM reaffirms the excellence of our Bill Payments and Prepaid Mobile Recharge services. This partnership is a major achievement for us, poised to significantly boost our transaction volumes while providing access to millions of BHIM users. Such alliances are instrumental in propelling us to new heights and maintaining our growth trajectory.”

Mr. Rahul Handa, Chief Business Officer of BHIM (NBSL), expressed his enthusiasm, emphasizing BHIM’s role in driving cashless transactions in India. With prepaid mobile recharges, we want to make it easier for users to handle their payments in one trusted place, reinforcing BHIM’s role in everyday financial activities.

Bill Avenue is the only perpetual BOU and COU license holder provided by RBI. On the basis of this license Bill Avenue onboards billers and Agent Institutions on the Bharat Bill Payments System (BBPS) platform. BillAvenue is also an NPCI empanelled Technology Service Provider (TSP) Partner for both Biller Operating Unit (BOU) and Customer Operating Unit (COU). This means that BillAvenue can now help banks, Small finance Banks (SFBs) and other certified non-Bank fintech players become a part of the BBPS ecosystem by providing their technology stack to these entities for quicker go live. BillAvenue can offer these entities on prem deployed solutions under a CapEx model as well as cloud based solutions on an OpEx model.

This partnership underscores Infibeam Avenues Ltd.’s commitment to innovation and its pivotal role in advancing India’s digital payments landscape.

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