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CCAvenue.com ties up with State Bank of Patiala for online direct debit facility
August 23, 2012

Avenues, South-Asia's largest eCommerce company, the parent company of CCAvenue.com, India's largest neutral online payment gateway is pleased to announce that it has signed a net banking agreement with State Bank of Patiala. Now, State Bank of Patiala account holders can shop online at thousands of websites powered by CCAvenue.com and pay online through a direct debit to their State Bank of Patiala bank accounts.

Senior Officials of State Bank of Patiala with Mr. Nandkumar Menon, Head - Alliances, AvenuesState Bank of Patiala as a bank is committed to deliver excellence in customer satisfaction through technological upgrades. This commitment was the key driving force behind the agreement with Avenues, the parent company of CCAvenue.com, India's largest neutral online payment gateway. 85% of India's merchants power their websites with CCAvenue.com to sell an array of products and services from clothing and jewelry to movie tickets and membership renewals. State Bank of Patiala account holders will have online shopping convenience. They will be able to purchase and pay for all types of products and services on CCAvenue.com affiliated websites directly through their State Bank of Patiala bank accounts.

CCAvenue.com merchants also benefit from the signing of this direct debit agreement. State Bank of Patiala is the first fully networked Public Sector Bank in the country. The bank has grown significantly both in size and volume of business after becoming a subsidiary of the State Bank of India. During these glorious years, the Bank has been playing an important role in the Banking sphere. The agreement with State Bank of Patiala will expand CCAvenue.com merchants' reach to include all State Bank of Patiala account holders. Now, CCAvenue.com merchants can sell and collect payments for their products and services easily, instantly and directly online. Through this direct banking agreement, CCAvenue.com reinforces its place as India's largest direct debit engine with 44 prominent Indian banks.

Mr. Vishwas Patel, CEO, Avenues, "Since CCAvenue.com's launch in 2001, we have always endeavored to provide our CCAvenue.com merchants with the widest payment network. Year after year, we have consistently added to our payment network going from a single bank to around 44 banks. We are pleased to announce that we have added yet another bank 'State Bank of Patiala' to India's largest direct debit engine."

About State Bank of Patiala
The rich heritage of State Bank of Patiala dates back to the year 1917, when it was founded by Late His Highness Bhupinder Singh, Maharaja of erstwhile Patiala state, with one branch by the name of 'Chowk Fort, Patiala' to begin with. The Bank, then known as the 'Patiala State Bank' was state owned and setup for the explicit purpose of fostering growth of agriculture, trade and industry. The constitution, scope and operations of the Bank underwent a sea change with the formation of the Patiala and east Punjab States Union (PEPSU) in 1948.The Bank was then reorganized and brought under the control of Reserve Bank of India.

It was christened as the Bank of Patiala. Another milestone in history of the Bank was its becoming a subsidiary of the State Bank of India on 1st April,1960 when it was named as the State Bank of Patiala and since then it has grown significantly both in size and volume of business.

State Bank of Patiala has now added a golden chapter to its history by fully networking all its branches on Core Banking Solutions on 08.08.2005 and become the first fully networked Public Sector Bank in the country.

About Avenues
Incorporated in the year 2001, Avenues is the parent company of CCAvenue.com and is a zero-debt company that has been profitable from its inception. Avenues is headquartered in Mumbai, India and has subsidiary companies and offices in USA and Singapore. Avenues has developed several innovative, cutting-edge ASP hosted solutions that are used by thousands of eMerchants globally.

Beginning as a single product company that catered to the local market, Avenues has become a multi-product company that operates on a global scale. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 125 persons spanning across all offices.

Avenues has three Business Units namely: Avenues Commercial Services, Avenues Travel Industry Services and Avenues Community Related Services. For more information, log onto: www.Avenues.info.

About CCAvenue.com
CCAvenue.com® is South Asia's largest payment gateway solution powering thousands of eMerchants with real time, multi-currency, multiple payment options and 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.com is the only complete PG solution in the region that has the unique ability to offer the full spectrum of Internet payment options, including:
  • All types of Credit Card processing through Multiple Banks and Card Associations
  • Debit Card processing
  • ATM cum Debit Card processing
  • Direct Debit to bank accounts of 44+ Indian Banks (India's largest direct debit engine), 20+ Chinese Banks and 3 Singapore Banks
  • Mobile Payment Solutions via PayMate®, SBI Freedom and UMobile
  • Cash Card Processing of ITZ Cash®, Done Card, OxiCash and NoQ24x7
For more information, visit: www.CCAvenue.com

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