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May 2, 2024

Infibeam’s CCAvenue Teams Up with Shivalik SFB to Expand Merchant Reach

Infibeam Avenues’ flagship payments platform, CCAvenue, has joined forces with Shivalik Small Finance Bank (SFB) in a strategic partnership aimed at broadening merchant access and enhancing business potential. This collaboration, announced by the Gandhinagar-based fintech firm, promises to integrate Shivalik SFB’s internet banking services with CCAvenue’s payment platform, enabling account holders of the bank to make seamless payments on websites powered by CCAvenue.

With this integration, merchants utilizing CCAvenue’s services are poised to tap into Shivalik SFB’s vast customer base, potentially boosting their business growth significantly. T Nandakumar Menon, Senior Vice President for Alliances and Operations at Infibeam Avenues, expressed confidence that this partnership will unlock lucrative opportunities for lakhs of online entities across various sectors in India.

CCAvenue boasts a diverse merchant base spanning retail, travel, real estate, telecommunication, and government departments. Merchants leverage the platform to facilitate transactions through various payment instruments, including credit cards, debit cards, net banking, mobile wallets, and Unified Payments Interface (UPI).

Shivalik SFB, with over 600,000 customers and a presence in key regions such as Uttar Pradesh, Uttarakhand, Madhya Pradesh, the National Capital Region, Telangana, and Haryana, offers a considerable market reach. The collaboration between Infibeam Avenues and Shivalik SFB adds to a series of partnerships the fintech firm has forged with banks in 2024, reflecting its commitment to driving innovation and expanding its services.

Earlier in the year, Infibeam Avenues entered into an agreement with IDFC First Bank to provide extensive credit card EMI solutions to the bank’s customers, further enriching its offerings. In March, the company extended its reach by collaborating with Saudi Awwal Bank, a Saudi-based financial institution, to deliver secure e-commerce solutions for businesses and consumers in the kingdom.

The partnership between CCAvenue and Shivalik SFB is not only a testament to the growing importance of digital payments but also underscores the need for collaboration within the fintech ecosystem to meet evolving customer demands. By leveraging each other’s strengths, Infibeam Avenues and Shivalik SFB aim to create synergies that drive mutual growth and innovation in the digital payments landscape.

In a rapidly digitizing economy, such alliances hold the key to providing seamless and secure payment experiences while expanding access to financial services for merchants and consumers alike. As the fintech industry continues to evolve, partnerships like this one will play a crucial role in shaping the future of digital commerce in India and beyond.

Jhumpa Lahiri

Jhumpa Lahiri

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