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CCAvenue.com ties up with Dhanlaxmi Bank for direct debit facility
July 24, 2012

Avenues, South-Asia's largest eCommerce company, the parent company of CCAvenue.com, India's largest neutral online payment gateway has tied up with Dhanlaxmi Bank and added it's net banking facility to its direct debit engine which is India's largest direct debit engine. Now, Dhanlaxmi Bank account holders can shop online at thousands of websites powered by CCAvenue.com and pay online through a direct debit to their Dhanlaxmi Bank accounts, via Net Banking. CCAvenue.com has always strived to bring it's merchants, the best and the maximum number of payment options.

Founded on 14 November, 1927, at Thrissur, Kerala, Dhanlaxmi Bank's vision and mission has been "To become a strong and innovative bank with integrity and social responsibility and to maximize customer satisfaction and the satisfaction of its employees, shareholders and the community." They have several achievements to their credit. These include:
  • Servicing business worth Rs. 21,595 crores as on 31 March 2011, comprising deposits of Rs. 12,530 crores and advances of Rs. 9,065 crores.
  • Earning a net profit of Rs. 26.1 crores for the financial year ended 31st March 2011, with a capital adequacy ratio of 11.8% (Basel II) during the same period.
  • Putting in place the Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems to facilitate large value payments and settlements online in real time, on a transaction-by-transaction basis.
  • Setting up NRI Boutiques (Relationship Centres) across nine locations in Kerala and Tamil Nadu, with plans to open specialized NRI outlets at potential locations with emphasis on impeccable service levels.
  • Bank is a major player in micro credit in Kerala and the Bank's outstanding under micro credit was Rs. 266 crores at the end of March 2011.
  • Attaining ISO 9001-2000 certification for the Bank's corporate office at Thrissur and industrial finance branch at Kochi.
CCAvenue.com merchants also benefit from the addition of this payment option. The addition of Dhanlaxmi Bank Net Banking, as a payment option will expand CCAvenue.com merchants' reach to include all the Dhanlaxmi Bank account holders. Now, CCAvenue.com merchants can sell and collect payments for their products and services instantly and directly online, easily. Through this direct banking agreement, CCAvenue.com reinforces its place as India's largest direct debit engine with 44 (and counting) prominent Indian banks.

Mr. Vishwas Patel, CEO of Avenues says, "Since CCAvenue.com' 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 more than 44 banks. Today we are pleased to announce that we have added yet another bank Dhanlaxmi Bank' to India's largest direct debit engine."

About Dhanlaxmi Bank Dhanlaxmi Bank Ltd. was incorporated in 1927 at Thrissur, Kerala by a group of ambitious and enterprising entrepreneurs. Over the 85 years that followed, Dhanlaxmi Bank with its rich heritage has earned the trust and goodwill of clients. It is due to their strong belief in the need to seek innovation, deliver best service and demonstrate responsibility that they have grown from strength to strength. Be it in the number of customers, the scale of business, the breadth of our product offerings, the banking experience they offer or the trust that people invest in them. With more than 670 touch points across India at your service; their focus has always been on customizing services and personalizing relations.

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.comŽ 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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