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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

Barclays Bank, Yes Bank and Union Bank of India debit cards now live!

October 7, 2009

The ResAvenue Payment Gateway Ties Up With Itz Cash Card Avenues' Adds Yet another Payment Option for its merchants team is pleased to announce that we now process debit cards of 3 additional banks - -Barclays Bank, Yes Bank and Union Bank of India. This addition brings new customers for our all our merchants.

Both Barclays Bank and Yes Bank debit cards will be processed through the Credit Card Gateways with Verified by Visa and MasterCard SecureCode authentication processes. Both of these banks have a sizeable debit card database, which will expand the ResAvenue's hoteliers' market reach substantially.

The Union Bank of India Debit Card will be processed using the ATM pin verification. Our experience indicates that this method of verification not only increases the transaction success rate but also exponentially increases the customer base transacting online. One of the reasons is that fewer bank customers remember their VBV pin number or MSC pin number. However, a significantly larger base of customers remembers their ATM pin number. Our experiences with customers of the other banks like Canara Bank, Citibank, Punjab National Bank and State Bank of India who follow a similar process of ATM Authorized Pin facility corroborate these observations. From a customer's perspective, the key benefit of the ATM Authorized Pin facility is that customers have one less number/password to remember in this complex world, where everything is password protected.

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