Infibeam Avenues Ltd’s flagship payment gateway brand, CCAvenue, has partnered with The Sutex Co-operative Bank Ltd to help bolster the bank’s net banking facility.
The new collaboration will enable Sutex Co-operative Bank Ltd to route secure direct debit digital payments to its merchants, including multi-currency payments, simplifying transactions for both businesses and customers, stated an official release here, Thursday. The collaboration is poised to foster significant growth for Sutex Co-operative Bank’s merchant partners, enabling them to engage in both national and international business operations more effectively.
Shital A Bhatt, CEO of The Sutex Co-operative Bank Ltd, and T Nandakumar Menon, Senior Vice President – Alliances and Operations at Infibeam Avenues Ltd, inked the agreement on March 13. “A payments aggregator, CCAvenue has always believed in streamlining the payment process for its business partners, thereby adding convenience to the shopping experience of millions of customers, while also promoting the adoption of digital transactions. Our mutually aligned partnership with Sutex aspires to enable more than 1 lakh merchant partners to receive net banking payments from voluminous Sutex Bank account holders. This venture will progressively expand the bank’s existing customer base and provide substantial augmentation to its revenue growth,” stated Menon.
The Sutex Co-operative Bank was initially founded with the noble purpose of helping Surat Textile Market shopkeepers with banking facilities and assisting them in starting and managing their businesses, the release added.
