March 1, 2002* Centurion Bank in tie-up with CCAvenue

March 1, 2002. This is the latest in CCAvenue.com's list of corporate tie-ups. After having joined hands with some of India's leading names in the financial industry, CCAvenue.com now offers its merchants the convenience of doing business through the Centurion Bank net banking interface.

One of India's fastest growing private sector banks, Centurion Bank is promoted by Keppel Tatlee Bank of Singapore, and its equity is held by International Finance Corporation - Washington and Asian Development Bank - Manila. Centurion Bank has carved a niche for itself in the late nineties as one of the forerunners of new age banking in India. Currently, the bank has branches in 43 cities and towns with 116 ATMs across India.

In line with that reputation, this new association will facilitate Centurion Bank account holders to pay for goods and services of CCAvenue appointed merchants by directly debiting their net banking accounts in real time.

"Our objective would be to make the local payment gateway available to as many Indian customers as possible. With our latest tie-up with Centurion Bank, we have just expanded our market by a few thousands again," explained Mr. Vishwas Patel, CEO of Avenues.

He further went on to explain that with every tie-up, and thereby increase in customer reach and payment options, CCAvenue's merchants have access to an ever-expanding local consumer market, at negligible costs and profits. "This," he said, "would be the driving force of our success!"

About Centurion Bank
One of India's fastest growing private sector banks, Centurion Bank is promoted by Keppel Tatlee Bank of Singapore, and its equity is held by International Finance Corporation - Washington and Asian Development Bank - Manila. Currently, the bank has branches in 43 cities and towns with 116 ATMs across India.

About CCAvenue
Established in the year 2001and headquartered in Mumbai, India, CCAvenue provides turnkey e-commerce solutions to hundreds of e-merchants across India. CCAvenue is the preferred Indian payment-processing service for e-commerce, providing server-based payment solutions, enabling merchants to process secure transactions in real time, 24 hours a day. The company's service is powered by proprietary technology that integrates online payment processing, fraud control, financial reporting and tracking. CCAvenue's Payment Solutions process credit cards and net banking transactions and work with any business model, including Internet call centers and retail. CCAvenue has also formed strategic alliances with leading financial institutions and technology partners to deliver the most comprehensive online authorisation and processing services available to Indian eMerchants.CCAvenue's secure, complete and leading-edge payment services maximize growth at every stage of a merchant's business lifecycle.
For more information about CCAvenue, visit the company on the world wide web at
www.CCAvenue.com or call (022)-26000816/46 and 26491524.

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