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Union Bank of India ease the online buying process for its customers by signs on with Avenues
December 13, 2007

Union Bank of India, one of the oldest and largest PSU banks in India, has tied-up with Avenues to provide its customers with an Online Shopping Facility. The customers of Union Bank of India can now shop at over 4500 websites from the comfort of their homes and pay for purchases through their Union Bank of India net banking accounts.

The Union Bank of India will use its advanced technology to provide their customers with online shopping facilities. Union Bank of India customers will benefit as they can now use their Bank Accounts to pay for the goods and services of over 4500 of Avenues' web merchants retailing thousands of different types of products and services; they can make and pay for hotel reservations online; and can make online bookings for events and exhibitions.

By signing up with Avenues, Union Bank of India has consolidated its commitment to being a leading, innovative commercial Bank and has moved closer to its goal of creating better value for its depositor base through a proactive approach to the changing needs of the society.

Mr. Vishwas Patel, CEO of Avenues says, "In the past 6 years, we have achieved great success, and we are proud to be India’s largest direct debit engine. Our aim now is not to get compliant instead to continue to enhance our solutions by proactively adding more banks and payment options to our list.”

About CCAvenue
CCAvenue is South Asia’s largest payment gateway solution powering thousands of eMerchants with real time, multi-currency, multiple payment options 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 is the only complete PG solution in the region that has the unique ability to offer the full spectrum of Internet payment options, including:

1. All types of Credit Card processing through Multiple Banks and Card Associations
2. Debit Card processing
3. Direct Debit to bank accounts of over 15 Indian Banks, 22 Chinese Banks, 6 Canadian Banks and 3 Singapore Banks
4. Mobile Payment Solutions via PayMate®
5. Cash Card Processing of ITZ Cash®
For more information, visit: www.CCAvenue.com

About Union Bank of India
Union Bank of India was inaugurated by Mahatma Gandhi more than eight decades ago. It is a Public Sector Unit with 55.43% Share Capital held by the Government of India.

The Union Bank of India has more than 950 branches and extension counters. It has a large network of approximately 659 ATMs spread across the country. In addition to regular banking facilities, Union Bank of India customers can also avail a variety of other services like Online Tele banking facilities, Cash Management Service, Insurance, Mutual Funds, Demat etc.


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