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CCAvenue.com ties up with Canara Bank for direct debit facility
June 5, 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 Canara Bank and added it's net banking facility to its direct debit engine which is India's largest direct debit engine. Now, Canara Bank account holders can shop online at thousands of websites powered by CCAvenue.com and pay online through a direct debit to their Canara Bank accounts, via Net Banking. CCAvenue.com has always strived to bring it's merchants, the best and the maximum number of payment options.

Widely known for customer centricity, Canara Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. The eventful journey of the Bank has been characterized by several memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks. With an unbroken record of profits since its inception, Canara Bank has several firsts to its credit. These include:
  • Launching of Inter-City ATM Network
  • Obtaining ISO Certification for a Branch
  • Articulation of 'Good Banking' - Bank's Citizen Charter
  • Commissioning of Exclusive Mahila Banking Branch
  • Launching of Exclusive Subsidiary for IT Consultancy
  • Issuing credit card for farmers
  • Providing Agricultural Consultancy Services
CCAvenue.com merchants also benefit from the addition of this payment option. The addition of Canara Bank Net Banking, as a payment option will expand CCAvenue.com merchants' reach to include all the Canara 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'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 more than 44 banks. Today we are pleased to announce that we have added yet another bank 'Canara Bank' to India's largest direct debit engine."

About Canara Bank
Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port in Karnataka. Over the years, the Bank has been scaling up its market position to emerge as a major 'Financial Conglomerate' with as many as nine subsidiaries/sponsored institutions/joint ventures in India and abroad. The Bank has further expanded its domestic presence, with 3057 branches spread across all geographical segments. Keeping customer convenience at the forefront, the Bank provides a wide array of alternative delivery channels that include over 2000 ATMs- one of the highest among nationalized banks- covering 732 centres, 2681 branches providing Internet and Mobile Banking (IMB) services and 2091 branches offering 'Anywhere Banking' services. Under advanced payment and settlement system, all branches of the Bank have been enabled to offer Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities.

Not just in commercial banking, the Bank has also carved a distinctive mark, in various corporate social responsibilities, namely, serving national priorities, promoting rural development, enhancing rural self-employment through several training institutes and spearheading financial inclusion objective.

Canara Bank's vision is to emerge as a 'Best Practices Bank' by pursuing global benchmarks in profitability, operational efficiency, asset quality, risk management and expanding the global reach.

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

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