NEW DELHI: Infibeam Avenues Ltdโs flagship brand, CCAvenue, has partnered with The Sutex Co-operative Bank Ltd to strengthen the bankโs Net Banking services. This collaboration will help the bank enhance its digital payment offerings using CCAvenueโs multi-currency payment processing technology.
The partnership will improve The Sutex Co-operative Bankโs Direct Debit Facility. This will allow the bankโs merchants to securely accept digital payments, including multi-currency transactions. The move aims to simplify online transactions for both businesses and their customers.
Mr. Shital A Bhatt, CEO of The Sutex Co-operative Bank Ltd, and Mr. T. Nandakumar Menon, Sr. Vice President โ Alliances and Operations at Infibeam Avenues Ltd, signed the agreement on March 13, 2025.
โA payments aggregator, CCAvenue has always believed in streamlining the payment process for its business partners, thereby adding convenience to the shopping experience of millions of customers,โ said Mr. Menon. โOur mutually aligned partnership with Sutex aspires to enable more than 1 lakh merchant partners to receive Net Banking payments from voluminous Sutex Bank account holders. This venture will progressively expand the bankโs existing customer base and provide substantial augmentation to its revenue growth.โ
The Sutex Co-operative Bank was founded to support Surat Textile Market shopkeepers. Since its establishment in 1972, the bank has grown to serve thousands of customers in South Gujarat. The bank offers services such as RTGS/NEFT, e-payments, ATM, IMPS, UPI, Mobile banking, Net Banking, Lockers, and E-stamping.
With this partnership, CCAvenue has now added The Sutex Co-operative Bank to its growing list of more than 60 banking partners. This move further expands CCAvenueโs reach as one of the largest direct debit engines in South Asia. CCAvenue became the first payment aggregator to offer a Net Banking facility in India back in 2001.
Infibeam Avenues Ltd is a leading Indian fintech company that provides digital payment solutions and enterprise software platforms. The company processes transactions worth INR 7 trillion annually and has over 10 million clients across India and international markets such as UAE, Australia, and the US.
This collaboration is expected to benefit over 1 lakh merchants associated with The Sutex Co-operative Bank, giving them access to fast, secure, and efficient digital payment options through CCAvenue.
