Infibeam Avenues partners with IDFC First Bank; know more here

Company profile

Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) companies offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company’s payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies.

Infibeam Avenues enterprise software platform hosts India’s largest online marketplace for government procurement. The company processed transactions worth Rs 4.5 trillion or USD 54 billion in FY23. The company currently has over 10 million clients across digital payments and enterprise software platforms.

About CCAvenue

CCAvenue is a brand of Infibeam Avenues which is a PCI DSS 3.2.1 compliant payments platform for eCommerce businesses in India. It enables merchants to accept online payments through a spectrum of new-age payment options.

About the Partnership

Infibeam Avenues announces today a strategic alliance between its flagship payment brand CCAvenue and IDFC First Bank. This collaboration aims to provide extensive credit card EMI solutions, further enhancing the payment experience for millions of Bank’s customers nationwide. The partnership with IDFC First Bank marks a major development for CCAvenue reinforcing its commitment to delivering seamless and innovative payment solutions. With this collaboration, CCAvenue will offer easy payment services, complementing the existing BNPL (Buy Now, Pay Later) facilities already offered to merchants.

Notably, CCAvenue has a history of successful partnerships having previously collaborated with various banks to cater to the growing demand in the credit card EMI market.

Stock Performance
In the last trading session, the stock closed at Rs 36.52. Today, it opened at Rs 36.83 and currently trading at Rs 35.85, down by 1.83%. Shares of the company have a 52-week of Rs 40, while its 52-week low stands at Rs 12.85. Currently, the company boasts a market capitalisation of approximately Rs 10,000 crore. Looking back over the past year, the company’s shares have yielded multibagger returns of 117.82%, in the same time frame BSE Financial Services has changed by 17.76%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.