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Karur Vysya Bank Now A Part Of India’s Largest Direct Debit Engine

June 30, 2008 - Mumbai.

Avenues’ South-Asia’s largest integrated ecommerce company is proud to announce that Karur Vysya Bank is the latest addition to their direct debit engine. With this addition, CCAvenue merchants will be able to accept payments from customers of over 20 Indian banks.

Karur Vysya Bank endeavors to bring the best of products and services to its customers and emerge as a top-notch one-stop-shop techie financial supermarket. To achieve this goal, Karur Vysya Bank has in place a robust risk management system and adheres to the tenets of Corporate Governance. It has also tied up with Avenues to make it easier for their customers to transaction online.

Through this association, Karur Vysya Bank customers can use their Bank Accounts to pay for the goods and services of over 5500 of Avenues' web merchants retailing millions of different types of products and services; they can make and pay for hotel reservations online; and can make online bookings for events and exhibitions.

Mahatma Gandhi once said, “The difference between what we do and what we are capable of doing would suffice to solve more of world’s problems.” Karur Vysya Bank has proved this bys rising to the occasion, facing challenges and coming out gloriously from every situation.”

Mr. Vishwas Patel, CEO of Avenues says, "In the past 7 years, we have achieved great success, and we are proud to be India’s largest direct debit engine. Our aim now is not to get compliant instead to continue to enhance our solution by proactively adding more banks and payment options to our list.”

About Avenues
Avenues is South Asia’s largest payment gateway solution company powering thousands of eMerchants with eCommerce solutions and real time, multi-currency, multiple payment options online payment processing services. All solutions are powered by proprietary technology that integrates industry vertical specific eCommerce tools, transaction processing, advance shopping cart, auction payment collection facility, fraud control, financial reporting and order tracking. All Avenues' solutions are empowered with a complete PG solution 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 20 Indian Banks, 22 Chinese Banks and 3 Singapore Banks
  • Mobile Payment Solutions via PayMate®
  • Cash Card Processing of ITZ Cash®
For more information, visit: (for general eCommerce Processing), (for Online Hotel Reservations through the Hotel website), (for Online Event Management solution), (for Online Travel Inventory Solution).

About Karur Vysya Bank: Established in 1916, Karur Vysya Bank Limited is popularly known as KVB. It is professionally managed and guided by the Board of Directors drawn from different fields with vision, experience, knowledge and business acumen. The aim of the bank is to delight their customers continually by blending tradition with technology to deliver innovative products and services at affordable rates.

Today, Karur Vysya Bank has grown from a regional bank, it has spread its wings wide and has over 288 branches in 13 States and 2 Union Territories and an ATM network of 291. The bank also plans to improve the branch network to over 320 by the end of the financial year 2008-09

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