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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
20 million new guests for ResAvenue’s partnered hotels! Avenues and Syndicate Bank sign a net banking agreement.

May 05, 2009 - Mumbai, India.

Avenues is pleased to announce that it has signed a net banking agreement with ‘Syndicate Bank’. Avenues, South-Asia’s largest ecommerce company is the parent company of ResAvenue, the complete reservation engine for the Hospitality Industry and the addition of Syndicate Bank to Avenues robust payment engine will substantially increase the market reach of ResAvenue’s partnered hotels within the Indian sub-continent.

Syndicate Bank is a leading Indian nationalized bank with a customer base of approximately 20 million spread across India. This progressive and successful public sector bank has always recognized that Information Technology is an essential part of Banking and has always adapted to the changing times. In the past, it has employed the latest available technology in order to offer its customers cutting edge services such as Syndicat-e-banking, ATM Network, Internet Banking and Mobile Banking which ensures not only business development but also customer satisfaction. Now, it has collaborated with Avenues to provide its customers with hassle free online purchasing and payment capabilities. Syndicate Bank customers can now book and pay for room accommodation directly through their bank accounts at any of ResAvenue’s thousands of partnered hotel websites.

ResAvenue also benefits from the signing of this net banking agreement. It gains yet another payment option for its partnered hotels and it secures its place as India’s largest direct engine with 30 prominent Indian banks.

Mr. Vishwas Patel, CEO, Avenues says, ‘Today, profitability is not just about having an online presence. If you want to successfully convert the billion of online users into guests, you have to offer payment options beyond the usual ones and are relevant to guests from all parts of the country. At Avenues, we understand the close connection between profitability, guests and payment options and work hard to provide our partnered hoteliers with the largest and most versatile payment gateway. We currently have 8 credit cards, 13 Indian debit cards, 20 Chinese net banks, 29 Indian net banks, 3 Singapore Banks, cash cards and mobile payment options. We are also constantly in talks with banks and other financial institutions to add new payment options to our already extensive list.’

Syndicate BankAbout Syndicate Bank
Established in 1925 in Udupi, Karnataka, Syndicate Bank is one of the premier nationalized banks in India. It provides contemporary banking services in accordance with the innovative banking techniques of new-age banking. These services include e-banking, Anytime, Anywhere, Anyhow Banking (AAA), toll free voice mail system, e-pay services, Core Banking Solutions (CBS), EFT (Electronic Funds Transfer), RGTS (Real Time Gross Settlement) and specialized Forex services.

Syndicate Bank has over 20 million customers that it services through its extensive network of over 2100 branches and 1051 ATMs.

AvenuesAbout Avenues
Incorporated in the year 2001, Avenues 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, Singapore and China. 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:

ResAvenuesAbout ResAvenues
ResAvenue® is a fully hosted, plug-and-play booking engine that integrates directly into the hotel’s branded website, thereby enabling the Hoteliers to save big money on recurring high-end hardware costs, software licenses and expensive technical manpower. It is a cutting edge reservation engine which allows the hotelier to accept reservations in 15 international languages and accept real time payments in multiple currencies. Launched in May 2005, hundreds of hotel properties in the Indian sub-continent are currently using ResAvenue, thereby making it the fastest growing hospitality solution in the region. Through ResAvenue's partnership with Pegasus, the world’s leading distribution company, hoteliers using the ResAvenue solution can also distribute their inventory into the Global Distribution System like Sabre, Galileo, Amadeus etc, and the Internet Distribution System like, Expedia, Orbitz, Travelocity etc.. ResAvenue also enables the hotelier to make commission payouts to any travel agent through Pegasus’s Global Agent Commission Payment System. ResAvenue also offers Search Engine Optimization and Internet Marketing Services and private label Call Centre services to hoteliers. For more information, visit:

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