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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
India’s largest Direct Debit Engine adds yet another bank to its portfolio

May 29, 2007 - Mumbai.

Avenues’ South-Asia’s largest integrated ecommerce company announced today that India’s largest direct debit engine has added yet another net banking option - Jammu & Kashmir Bank. This addition emphasizes Avenues commitment to provide its eMerchants with cutting edge payment solutions.

Mr. Vishwas Patel, CEO of Avenues says, "Since our launch 6 years ago, we have made great strides towards achieving our goal of providing our merchants with the latest and best of payment options available. We started with a single net banking option and today, we can proudly claim to have India’s largest direct debit engine. We are happy to welcome Jammu & Kashmir bank into the family.”

By keeping up with the trends in technology, Jammu & Kashmir Bank is determined to provide its customers with excellent and convenient services. Through this tie-up, Jammu & Kashmir Bank will be able to provide their net banking customers with immediate shopping facility at over 4000 websites.

Dr. Hasseb Drabu, Chairman & CEO, Jammu & Kashmir Bank said, “At Jammu & Kashmir Bank, we are always looking to provide maximum benefits to our account holders. The tie-up with Avenues will ensure that our services are at the cutting edge of technology. This will be beneficial for our customers as they can now use their J&K Bank Accounts to pay for the goods and services of over 4000 of Avenues' web merchants retailing a wide variety of products and services.

For instance, they can pay for hotel reservations online and book tickets online for events and exhibitions.”

About CCAvenue
CCAvenue is South Asia’s largest payment gateway solution powering thousands of eMerchants with real time, multi-currency, multiple payment options online payment processing services. The solution is powered by proprietary technology that integrates transaction processing, advance shopping cart, auction payment collection facility, fraud control, financial reporting and order tracking. CCAvenue is the only complete PG solution in the region that has the unique ability to offer the full spectrum of Internet payment options, including:
  • All types of Credit Card processing through Multiple Banks and Card Associations
  • Debit Card processing
  • Direct Debit to bank accounts of over 15 Indian Banks, 22 Chinese Banks, 6 Canadian Banks and 3 Singapore Banks
  • Mobile Payment Solutions via PayMate®
  • Cash Card Processing of ITZ Cash®
For more information, visit:

About J&K Bank
Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938 and commenced its business from 4th July, 1939 at in Kashimir (India). The Bank was the first in the country as a State owned bank.

According to the extended Central laws of the state, Jammu & Kashmir Bank was defined as a govt. Company as per the provision of Indian companies act 1956. In the year 1971, the Bank received the status of scheduled bank. It was declared as "A" Class Bank by RBI in 1976.

Today the bank has more than 500 branches across the country and has recently become a billion Dollar Company.

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