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CCAvenue:: Overview of Payment Processing Service for India - 20 million new customers for CCAvenue merchants! Avenues and Syndicate Bank sign a net banking agreement
The hottest new Value-add from IDBI: Tie up with ResAvenue Payment Gateway!

July 10, 2002

IDBI Net Banking division of IDBI has tied up with Avenues, India's first neutral online payment gateway. This latest association will enable the account holders of IDBI Net Banking to shop on any of the hundreds of ResAvenue appointed hoteliers' sites and pay online in realtime through their IDBI i-net banking accounts.

When booking through ResAvenue, customers can now pay for their purchase in the Indian currency when buying from an Indian seller. This saves the Indian buyer valuable forex; and lets him to purchase in the currency he is most comfortable in; namely, Indian Rupees.

By tying up with CCAvenue, IDBI Net Banking has now made it so much easier for its customers to discover the true power and convenience of online shopping. IDBI Net Banking tie-up is the latest in ResAvenue Payment Gateway's network of associates. The company's objective is to facilitate a medium that will help the Indian businesses and customers experience the full potential of online transactions. To this end, ResAvenue is focused on providing quality service and wide range of payment options to online shoppers.

"IDBI Net Banking had been on our list of payment gateways from Day One," shared Mr. Vishwas Patel, CEO of Avenues. "The last decade has seen IDBI change its image from being exclusively a corporate bank to a retail customers' bank. This twin customer base is what we at ResAvenue are looking to service through this tie-up!"

About IDBI
IDBI, the tenth largest development bank in the world has promoted idbi bank to mark the formal foray of the IDBI Group into commercial Banking. This initiative has blossomed into a major success story of a network that today spans 61 cities, 82 branches & 244 ATMs.The bank currently has over half a million customer accounts and is now-poised to touch a million during next 12-18 months. Idbi Bank is India's youngest and one of the fastest growing new private sector banks.The Bank is surging ahead from strength to strength and is fast transforming into a technology led, service driven, financial services marketing company, managed with intellectual integrity.

About Avenues
Avenues is a profitable, debt-free company and currently services thousands of eMerchants worldwide through its solutions,,,,, It is the largest integrated eCommerce solutions provider in South Asia. Avenues has shown revenue growth and profit growth consistently, year on year. Avenues is incorporated in India, and has offices in Singapore, Hong Kong, and USA. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 120 personnel, spanning across all disciplines. For more information, log onto:

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