CCAVENUE
Infibeam Avenues reports 55% jump in profits at Rs 147 crore for FY24
Infibeam Avenues, the Ahmedabad-based company behind CCAvenue payment gateway and BuildaBazaar enterprise software, saw its annual revenue soar by 61% to Rs 3,171 crore in FY24, compared to Rs 1,962 crore the previous year. Profit after tax also jumped significantly, rising 55% to Rs 147 crore from Rs 94.6 crore.
Infibeam Avenues picks up 20% stake in US-based AI company XDuce
Infibeam Avenues acquires 20% stake in XDuce for $10 million to boost international business and support US growth of CCAvenue. Rajesh Kumar, CEO of Phronetic.AI, highlights the integration of PhroneticAI capabilities with XDuce. XDuce offers business application implementations and integration services to a clientele including Bank of America, Morgan Stanley, and Deutsche Bank.
CCAvenue UAE launches QR Code solutions in Dubai
The Indian listed fintech wants to tap the broader omnichannel payments market opening up worldwide.
Infibeam Avenues receives RBI in-principle nod for payment aggregator licence
In March this year, the RBI issued a framework under which payment aggregators are mandated to obtain a license for acquiring merchants and providing them with digital payments acceptance solutions.
IAMAI calls founders meet to discuss Google's decision to make its billing system compulsory for in-app purchases
Google has made it compulsory for developers to use Google Play Billing system as the only method of payment for in-app purchases. The policy is applicable for purchase of digital goods and not physical goods.
Digital payments slip 30% on Covid-19 curbs
Digital transactions processed by leading firms, both online and offline, are bearing the brunt due to restrictions in place to prevent a Covid-19 outbreak. It has especially impacted the air travel, hospitality and retail sectors. While customer traffic on digital channels are still high, the value of transactions has significantly declined.
CCAvenue collaborates with Riyad Bank to make inroads into Saudi Arabia's digital payment space
In collaboration with Riyad Bank the company will expand its payment platform in Saudi Arabia at a time when there is an upsurge in the country’s eCommerce market.
Cashing in: 7 payment gateways for small businesses
Finalizing a payment gateway for your business depends on various factors like integrations, currency support, proactive customer support and more. We list here seven payment gateways that are suited for small businesses.
Infibeam invests in payment firm
Infibeam didn’t disclose the amount it invested, but in a news release said Instant Global would use part of the funds to acquire customers and merchants.
Infibeam Avenues invest in IGPL
The technology enables merchants and retailers to offer digital solutions to the largely cash transacting customers
Infibeam introduces payment acceptance through new UPI App Intent
UPI App Intent processes payments on native mobile applications using existing UPI supported apps like Phonepe, BHIM, and Tez etc
RBI should ensure fair MDR share: ePayment companies
As of now, MDR share is higher for the issuing entity while acquiring co gets a much smaller share.
New digital payments rules may empty wallets for payments businesses
Recent interventions done on merchant discount rate (MDR) are bound to have an impact on margins for payments businesses.
PayU India plans to double value of processed transactions to $1 billion per month
Co to launch products related to investments and lending in a bid to gain a foothold in all key financial technology domains by October.
FreeCharge-CCAvenue to give customers access to 1 lakh online merchants
With this, FreeCharge is the fastest growing wallet in the country and well on its way to being the Digital Payment Operating System of India.
Ringing Bells begins refunding customers after allegations of fraud
Ringing Bells has started refunding customers who paid upfront for Freedom 251 after intense scrutiny of its business model and allegations of fraud.
Ringing Bells starts refunding customers, to only offer cash on delivery
CCAvenue, the payment gateway used by Ringing Bells on its website, told ET that it has started refunds worth Rs 84 lakh for 30,000 transactions.
Startups' payment solutions making online buys easier
Their improved technology helps make the process faster and safer for shoppers.
SBI country’s first bank to set up payment gateway
"We will be brining in new merchant categories with a special focus on government merchants such as, central, state departments and municipal corporations," said an official.
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