 "Infibeam's CCAvenue partners with Shivalik SFB to improve merchant access")
CCAvenue, the payments platform of fintech firm Infibeam Avenues, will partner with Shivalik Small Finance Bank to provide merchants registered with it to access to SFB’s customer base.
Gandhinagar-based Infibeam said on Thursday the partnership would integrate Shivalik SFB's internet banking service with its payment platform.
Account holders with the bank will be able to make payments on websites “powered” by CCAvenue.
“This integration opens up a new avenue of opportunity for the countless merchants utilising CCAvenue's services. They will soon have access to a vast customer base from Shivalik SFB, thereby augmenting their business potential significantly,” said Infibeam in a press statement.
CCAvenue’s merchant base spans retail, travel, real estate, telecommunication, and government departments. Merchants use the platform to make transactions using payment instruments such as credit cards, debit cards, net banking, mobile wallets and Unified Payments Interface.
“CCAvenue’s partnership with Shivalik Bank is anticipated to provide lucrative opportunities for lakhs of online entities in India to accelerate their business growth,” said T Nandakumar Menon, senior vice-president for alliances and operations at Infibeam Avenues.
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Shivalik SFB has more than 600,000 customers and it has “touch points” in Uttar Pradesh, Uttarakhand, Madhya Pradesh, the National Capital Region, Telangana, and Haryana.
Infibeam Avenues’ agreement with Shivalik SFB follows a series of partnerships the fintech has established with other banks in 2024.
The company partnered with IDFC First Bank in February to offer extensive credit card EMI solutions to the bank’s customers.
In March, it collaborated with Saudi-based Saudi Awwal Bank to deliver secure e-commerce solutions for businesses and consumers in the kingdom.