CCAvenue, India's leading payment gateway, announced the launch of 'CCAvenue Finance' today, a financial assistance program that connects their 1 lakh+ web merchants and over 8 million CCAvenue Checkout consumers using their payment gateway platform with trusted lenders in the industry to help them secure easy loans.
To kick-start the 'CCAvenue Finance' initiative, CCAvenue has partnered with 'Lendingkart' to provide loans with a vision to enable every entrepreneur fulfill their business aspirations.
Lack of cash flow has often been one of the biggest hurdles in the growth of small businesses. In fact, most traditional banks or lending organizations consider them as 'un-bankable' and refuse to give out loans without collaterals and high interest rates.
"CCAvenue has more than 1 lakh merchants on board and while working closely with them, we realized the issues they have been facing while raising capital to fuel growth in their businesses. At CCAvenue, our efforts have always been focused on helping our merchants scale up their business to the next level and 'CCAvenue Finance' goes a step further in strengthening this. With this initiative, SMEs and startups on our platform gain quick access to loans with basic documentation and within minimum turn-around-time, thereby simplifying the entire capital fund gathering process," stated Mr. Vishwas Patel, Chief Executive Officer, Avenues Group.
The eligibility criteria for merchants to avail this service will be clearly defined by the company along with the funding partners and customized financing options will be offered to them based on their business category and requirement, he added.
In addition to offering 'Merchant Finance', CCAvenue will soon be launching 'Consumer Finance' for over 8 million CCAvenue Checkout customers. CCAvenue understands consumers' purchasing needs and will help them convert these into actual haves by extending pre-approved loans at competitive market prevalent interest rates. With this initiative, CCAvenue Checkout customers can apply for short term loans and within a couple of hours, the sanctioned loan amount will be available to them in their Checkout accounts. With this pre-sanctioned loan, CCAvenue Checkout customers will be able to get ready access to funds and complete transactions for online purchases in a jiffy by avoiding the hassle of the conventional multi-layered payment process. 'Consumer Finance' will not only revolutionize online payments but will also simplify the payment experience for consumers.
With its headquarters in Mumbai, Avenues India has developed several cutting-edge solutions that are used by thousands of eMerchants globally. CCAvenue offers real-time, multi-currency online payment processing services for businesses in the major industry verticals. It is the only complete PG solution in the region that offers the full spectrum of Internet payment options including the 6 major Credit Cards, 98+ Debit Cards (All MasterCard /Visa /Maestro /RuPay Cards), Amex EzeClick, 53+ Net Banking, 11 Prepaid Instruments (including the MobiKwik and Paytm wallets), 2 Mobile Payments and up to 9 Multi Bank EMI options. For more information, visit www.ccavenue.com