November
1, 2001 * CCAvenue welcomes Citibank to its network
Citibank
account holders in India will soon be shopping online through
CCAvenue, India's first and only neutral online payment gateway.
CCAvenue has teamed up with India's largest credit card organization,
Citibank, to extend its online payment services to hundreds
of Indian Merchants' web sites.
Citibank was the first card company to come into India in
the early nineties and introduce the concept of credit payments
to the average Indian consumer. Today, that brave first step
has paid off with Citibank still being one of the most preferred
credit cards in the country.
Over the years, Citibank has consistently offered value-adds
and extras to its account holders and card members. Now with
this tie-up with CCAvenue, Citibank expands the convenience
to its patrons: the facility to pay online at hundreds on
Indian merchants websites.
"As a pioneer in online payments, CCAvenue is committed
to providing a safe, reliable and convenient method for online
sales and purchases. With Citibank now in its list of 'accepted
cards', CCAvenue has made e-commerce safe and easy for millions
of Citibank card members across India," said Mr. Patel,
CEO, CCAvenue. "By partnering with Citibank, CCAvenue
users will now have an additional choice of payment for secure,
online transactions." This partnership will make several
other brand names available as payment options to CCAvenue
customers. These include names like Diners Club International,
and Citibank E-Cards, along with conventional Visa and Master
Cards.
CCAvenue
enables any business to receive online payments securely,
conveniently and cost-effectively. CCAvenue network builds
on the existing financial infrastructure of bank accounts
and credit cards to create a global payment solution. CCAvenue
is a popular payment network for online auction websites and
is being increasingly used at e-commerce sites for the sale
of goods, services.
About Citibank
Citigroup (NYSE:C), the pre-eminent global financial services
company, provides some 120 million consumers, corporations,
governments and institutions in more than 100 countries with
a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking,
insurance, securities brokerage and asset management. Major
brand names under Citigroup's trademark umbrella are Citibank,
CitiFinancial, Primerica, Salomon Smith Barney, and Travelers.
Citibank is a member company of Citigroup, the largest and
the most diversified provider of financial services in the
world. With its 99-year history, Citibank has come to be acknowledged
as one of the leading international banks in India, with a
track record of outstanding business milestones.
In India, it was the pioneer in :
- consumer banking, being the first to introduce focused consumer
lending programs;
- electronic banking, having made significant investments
in technology.
- launching credit cards in India, and ranks amongst the leading
credit card issuers in the country with over 1.5 million card
members (i.e. over 70 % of the Indian credit cards are issued
by Citibank. It has done 'Due Diligence' and maintains complete
detailed records of more than 70% of Indian Credit Card Holders.).
Citibank is also amongst the first to launch the Real time
Internet Payment Gateway services in India. It will act as
CCAvenue's acquiring bank to provide proprietary payment gateway
services and will allow Citibank Net Banking and Debit card
transactions through CCAvenue.
About CCAvenue
Established in the year 2000 and 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 and financial reporting and tracking. CCAvenue
Payment
Solutions process credit cards and net banking transactions
and work with any business model, including Internet call
centres 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 Merchants. 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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