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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
United Bank of India ties up with ResAvenue Payment Gateway for direct debit facility

September 5, 2011

Net Banking is one of the most popular payment options in the country. Avenues has tied up with United Bank of India and has added its net banking facility to its direct debit engine â€" which is India's largest engine. Avenues has always strived to bring its merchants, the best in terms of payment options.

United Bank of India is the newest payment option to tie up with Avenues. Now United Bank of India account holders can shop online at thousands of websites powered by the payment gateway and pay online through a direct debit to their United Bank of India account.

United Bank of India is one of the 14 banks, which were nationalized on July 19, 1969. Its predecessor The United Bank of India Ltd was formed in 1950 with the amalgamation of four banks viz. Comilla Banking Corporation Ltd, Bengal Central Bank Ltd, Comilla Union Bank Ltd and Hooghly Bank Ltd. The origin of the bank thus goes as far back as 1914. Services offered by the bank include Retail banking, Corporate banking, International banking, Life Insurance products etc.

ResAvenue Payment Gateway customers also benefit from this direct debit agreement. Today, United Bank of India is 100% CBS enabled with more than 1,600 branches and offices and has a business of more than Rs. 1 lac crore. Therefore, ResAvenue Payment Gateway customers can reach out to a much larger number of customers through this agreement.

Through this direct banking agreement, re-establishes its place as India's largest direct debit engine with 40 (and counting) prominent Indian banks.

Mr. Vishwas Patel, CEO, Avenues says, "Since Avenues' launch in 2001, we have always endeavored to provide our merchants with the widest payment network. Year after year, we have consistently added to our payment network going from a single bank to around 40 banks. We are pleased to announce that we have added yet another bank 'United Bank of India' to India's largest direct debit engine."

About United Bank of India
UBI played a significant role in the spread of banking services in different parts of the country, more particularly in Eastern and North-Eastern India. UBI has sponsored 4 Regional Rural Banks (RRB) one each in West Bengal, Assam, Manipur and Tripura. These four RRBs together have over 1000 branches. United Bank of India has contributed 35% of the share capital/ additional capital to all the four RRBs in four different states. UBI is also known as the 'Tea Bank' because of its age-old association with the financing of tea gardens. It has been the largest lender to the tea industry.

The Bank has three full fledged Overseas Branches one each at Kolkata, New Delhi and Mumbai with fully equipped dealing room and SWIFT terminal . Operations of all the branches have since been computerized and Electronic Fund Transfer System came to be implemented in the Bank's branches across the country. The Bank has ATMs all over the country and customers can use United International Debit Card at all VISA ATMs across the globe.

About Avenues
Incorporated in the year 2001, Avenues is the parent company of and is a zero-debt company that has been profitable from its inception. Avenues is headquartered in Mumbai, India and has subsidiary companies and offices in USA and Singapore. Avenues has developed several innovative, cutting-edge ASP hosted solutions that are used by thousands of eMerchants globally.

Beginning as a single product company that catered to the local market, Avenues has become a multi-product company that operates on a global scale. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 125 persons spanning across all offices.

Avenues has three Business Units namely - Avenues Commercial Services, Avenues Travel Industry Services and Avenues Community Related Services. For more information, log onto:

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