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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

Millions of Deutsche Bank customers can now purchase and pay online on Avenues' associated merchant website

September 17, 2009

Avenues, South Asia's largest integrated ecommerce company has tied up with Deutsche Bank, a leading global investment bank to expand the market reach of its associated merchants. Deutsche Bank customers also benefit from this agreement as they can now shop online and pay for products and services directly through their bank accounts.

Mr. Vivek Nayak, Director - Operations and (extreme right) and Mr. Nandkumar Menon, Manager - Alliances, Avenues (right) exchanging the agreement with Senior Officials of Deutsche Bank (left).Avenues is the parent company of India's largest direct debit engine. Avenues aims to make expand its merchants reach by adding more and more banks to its payment list. The addition of Deutsche Bank will enable its merchants to sell and collect payments from millions of Deutsche Bank customers.

Mr. Vishwas Patel, CEO, Avenues, "One of our key objectives is to offer our merchants the wide range of payment options to prevent loss of sales because the customer does not have the right type of card or bank account. We are constantly negotiating with banks and other financial institutions to add more payment options to our solutions. We are happy to announce that we have successfully tied up with Deutsche Bank. This addition will expand our associated merchants reach to include millions of new customers located across 72 countries."

Deutsche Bank customers also benefit from the signing the net banking agreement with Avenues. This agreement with add convenience for its customers as they can now purchase/book and pay for products and services on any associated ResAvenue hotelier directly through their Deutsche Bank accounts.

Deutsche BankDeutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private client franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With 80,277 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank in India is a fully integrated financial services provider to Indian corporate, institutional and individual clients. Our services include on-shore investment banking, institutional equities broking, asset and private wealth management, retail banking & credit cards and business processes outsourcing.

AvenuesAbout Avenues
Incorporated in the year 2001, Avenues is a zero-debt company that has been profitable from its inception. Avenues is head quartered 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.

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