Infibeam Avenues Ltd’s flagship payment brand, CCAvenue, entered into a partnership with IDFC First Bank to offer extensive credit card EMI solutions to the bank’s customers nationwide. According to the company, this collaboration aims to enhance the payment experience for bank customers by providing easy payment services alongside the existing BNPL facilities.
CCAvenue reported having a track record of partnerships in the credit card EMI market and the alliance with IDFC First Bank is made to further solidify its position as a payment gateway.
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T Nandakumar Menon, Vice President, Alliances and Operations at Infibeam Avenues Ltd, said, “India is currently experiencing a remarkable surge in the demand for EMI cards as a flexible payment method, both for online and offline purchases. At Infibeam Avenues, we have the technological expertise necessary to leverage this thriving credit card market with our advanced EMI solutions. We have already secured a substantial market share through various partnerships with banks in the EMI credit card market space”
However, the share price of Infibeam Avenues declined 0.33 per cent to close at ₹36.40 on the BSE.