Infibeam Avenues gains as it expands its digital payment business to USA

Infibeam Avenues rose 2.83% to Rs 58.10 after it said that the company has made inroads into USA, the worlds second largest digital payments market by revenue.

Feb 20, 2020 03:02 IST capital market

The company will offer its vast array of digital payment solutions to web and mobile based small and medium enterprises (SME) largely operating in the online retail, education, hospitality and travel and tourism industry, apart from other industry verticals under the brand CCAvenue. The companys successful two-decade of track record in its domestic market (India) and the successful launches in the Middle East provides the confidence to launch in one of the worlds most developed digital commerce market i.e. USA.

Vishal Mehta, MD, said, ?US Market presents a trillion dollar digital payments processing opportunity. As part of our vision to change the way customers trade and transact globally through digitization of commerce, we are committed to provide the bestin-class online digital payment solutions to merchants and customers in the US. Further, to strengthen our position in the region we will explore opportunities to partner and collaborate with large financial institutions including selective acquisitions to extend our digital payments solution reach to merchants and customers in the US.?

Infibeam Avenues (IAL) operates an online payment system with technology platform solutions across industry verticals.

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