Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Payment gateway CCAvenue has launched ‘CCAvenue Finance’, a financial assistance program that connects web merchants and consumers using the payment gateway platform with trusted lenders, to help them secure easy loans.
For the ‘CCAvenue Finance’ initiative, the platform has partnered with Lendingkart to provide loans. With this, over 1 Lakh web merchants and over 8 Mn CCAvenue Checkout consumers will be able to connect with lenders.
The eligibility criteria for merchants to avail this service will be clearly defined by the company, along with the funding partners and customised financing options will be offered to them based on their business category and requirement.
Vishwas Patel, CEO of Avenues Group said, “With this initiative, SMEs and startups on our platform gain quick access to loans within minimum turnaround time, with basic documentation and zero collaterals, thereby simplifying the entire capital fund gathering process.”
In addition to offering ‘Merchant Finance’, CCAvenue will soon launch ‘Consumer Finance’ for the CCAvenue Checkout customers. The platform will extend pre-approved loans at market prevalent interest rates to these customers. Customers can apply for short-term loans, and within a few hours the sanctioned loan amount will be provided to their Checkout accounts.
Mumbai-based Avenues India has developed several cutting-edge solutions that are used by thousands of eMerchants globally. CCAvenue offers real-time, multi-currency online payment processing services for businesses in the major industry verticals. It offers various internet payment options including the six major Credit Cards, 98+ Debit Cards (MasterCard/Visa/Maestro/RuPay), Amex EzeClick, 55 Net Banking, 11 Prepaid Instruments (including Reliance JIO and Paytm), two Mobile Payments and up to nine Multi-Bank EMI options.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.