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Infibeam Brings in Payment Acceptance Via UPI App Intent

12Jul By Gauri SinghNo Comments

News

Infibeam Brings in Payment Acceptance Via UPI App Intent

Ahmedabad-based e-commerce conglomerate Infibeam has launched a new UPI App Intent for the acceptance of payments and flow for CCAvenue payment gateway merchants. UPI App Intent processes the transactions on native mobile apps with the help of existing UPI supported apps such as Tez, BHIM, PhonePe etc that are downloaded on the customer’s phone. This aims to provide the customers with a quick and smooth payment experience. Most of the UPI apps and even UPI enabled bank apps have added support for the app intent flow. This will avoid the need for having and installing multiple apps for making transactions. Vishwas Patel, Director of Infibeam Avenues said, “We had launched UPI acceptance for businesses and have been offering P2M payments (customer to merchant) on UPI since 2016. The c...

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

14Jul By PriyankaNo Comments

Market

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

The board of e-commerce firm Infibeam Incorporation today approved share split plan in the ratio of 1:10 that will make its scrip more affordable for the investors and increase market liquidity. The board also cleared amalgamation of CC Avenue with the company in which Infibeam has controlling stake. "The Board of Directors of the Company at its meeting held on Thursday July 13, 2017... has approved..split/sub- division of equity shares of the company from existing face value of Rs 10 per equity share to face value of Re 1 per equity share. Amalgamation of Avenue (India) Private Limited (CC Avenue) with the company," Infibeam said in a regulatory filing. The board also approved altering the capital clause of memorandum of association, in connection with the split of shares, setting ...

31May By NitishNo Comments

FUNDING

India’s Only Profitable Ecommerce Platform Invested 45 Crores in CCAvenue

India's first profitable e-commerce portal Infibeam said that it's investing Rs 45 crore in one of India's largest payment gateway CCAvenue and is currently "in further discussion for signing of definitive agreement". CCAvenue's payment solutions will be deeply integrated to Infibeam e-commerce marketplace and BuildaBazaar merchant store. Infibeam operates via its subsidiary NSI Infinium Global that holds e-commerce marketplace Infibeam.com and the do-it-yourself e-commerce platform BuildaBazaar. It's already has a joint venture with Avenues India called Avenues Infinite that operates the e-commerce marketplace Dhamaal.com. Infibeam owns 49.9% stake in the venture while the remaining 50.01% is owned by Avenues India. Infibeam likely to compete with other e-commerce platform in paym...

FreeCharge Partners CCAvenue; Expands Customer Access to Online Merchants

29Mar By Press Trust of IndiaNo Comments

BUSINESS

FreeCharge Partners CCAvenue; Expands Customer Access to Online Merchants

Snapdeal-owned digital payments platform FreeCharge has partnered with a payment gateway CCAvenue, giving its customers access to over 100,000 online merchants across sectors like hospitality, retail, and education. It will also help them access real-time, multi-currency online payment services, FreeCharge said in a statement on Monday. "We want to make FreeCharge wallet ubiquitous in both the online and offline space by creating an ecosystem of partnership. With CCAvenue, we will further strengthen our partner ecosystem and offer our customers a wider assortment of online merchants. Our endeavour is to build the payment OS for digital India and I am confident that alliances like this will help us move in the right direction," Govind Rajan, Chief Operating Officer, FreeCharge said. ...

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

27Nov By No Comments

News

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

Born out of a requirement of higher online payment success rate, Citrus is a key player in the Payment Gateway industry. It competes with major players like BillDesk, TechProcess, CCAvenue, etc. Citrus was co-founded by Satyen Kothari and Jitendra Gupta in 2011. It is engaged in the business of payment processing for credit cards, debit cards, bill payments, prepaid cards and all other kinds of payment instruments. The company has secured funding from Sequoia Capital and Ascent Capital. In this article, Tofler takes a look at their financial performance in FY 14-15. Founded in 2011 Turnover in FY14-15 INR 38 CR Expenses FY14-15 INR 53 CR FINANCIAL PERFORMANCE OF CITRUS PAYMENT The company earned a revenue of INR 38 crores in FY 2014-15 as a...