365Telugu.com online news, Gandhinagar, March 14th, 2025: Infibeam Avenues Ltd (BSE: 539807, NSE: INFIBEAM), a leading fintech company in India, has announced a strategic partnership between its flagship payment gateway, CCAvenue, and The Sutex Co-operative Bank Ltd.
This collaboration aims to enhance the bank’s Net Banking services by integrating CCAvenue’s advanced multi-currency payment processing technology, further strengthening its Direct Debit facility.
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Through this alliance, The Sutex Co-operative Bank will be able to offer its merchants secure digital payment processing, including multi-currency transactions, facilitating seamless and efficient financial transactions for both businesses and customers. The integration reinforces CCAvenue’s commitment to modernizing digital payment infrastructure and fostering a more streamlined payment experience.
As digital payments continue to evolve, such partnerships are critical in meeting the growing demand for secure and user-friendly financial solutions. This collaboration is expected to drive significant growth for Sutex Bank’s merchant partners, empowering them to expand their business both domestically and internationally.
The agreement was officially signed on March 13, 2025, by Mr. Shital A Bhatt, CEO of The Sutex Co-operative Bank Ltd, and Mr. T. Nandakumar Menon, Sr. Vice President – Alliances and Operations at Infibeam Avenues Ltd.
“CCAvenue has always focused on simplifying digital transactions for businesses, enhancing the shopping experience for millions of customers, and promoting digital adoption,” said Mr. T. Nandakumar Menon.
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“Our partnership with Sutex aims to enable over 1 lakh merchant partners to receive Net Banking payments from Sutex Bank’s extensive customer base. This venture will significantly contribute to the bank’s expansion and revenue growth.”
Founded to support textile shopkeepers in Surat with banking services, The Sutex Co-operative Bank has since grown into a leading financial institution in South Gujarat. The bank offers a comprehensive suite of core banking services, including RTGS/NEFT, e-payments, ATM services, IMPS, UPI, mobile banking, internet banking, lockers, stamp franking, and e-stamping.
With the addition of The Sutex Co-operative Bank to its growing payment network, CCAvenue now collaborates with over 60 leading banks, making it one of the largest direct debit payment gateway providers in South Asia. CCAvenue has been at the forefront of digital banking innovations, having introduced India’s first Net Banking facility for online transactions in 2001.