July 2, 2002 * UTI
i-Connect Net Banking payment option now available on
CCAvenue
July 2, 2002. There is good news
for UTI iConnect Net Banking Account Holders. You
can buy goods and services of hundreds of ResAvenue's
appointed merchants sites and pay directly through
your UTI I-Connect net banking account. This is now
possible because UTI's latest tie-up with ResAvenue.com,
India's first neutral online payment gateway.
ResAvenue.com
currently offers integrated payment gateway services
of leading financial institutions like HDFC Bank,
Amex, and accepts credit payment through the most
respected international brands such as Amex, Mastercard,
Diners and Visa cards. What makes ResAvenue unique is that it is India's first online payment
gateway that conducts the entire transaction in Rupees.
Mr. Vishwas Patel, CEO of ResAvenue.com
mentioned, "We had been in talks with UTI for
quite some time. To us, this tie-up is a very exciting
event, as this will give our merchant members businesses
to reach a whole new set of resident Indian customers;
and the numerous NREs and NRIs who hold UTI is high
esteem." ResAvenue have started providing UTI I-Connect net banking payment
option from 1st July, 2002 onwards; following integration
and careful testing.
ResAvenue's
merchants have further access to thousands of UTI's
account holders. This itself is a fair reflection
of the huge need gap that this online payment gateway
service is filling. With the markets showing a gradual
upswing, ResAvenue seems to be charting the right path, as it quietly
builds its network for the better times to come.
About UTI Bank
UTI Bank was the first of the new private banks
to have begun operations in 1994, after the Government
of India allowed new private banks to be established.
The Bank was promoted jointly by Unit Trust of India,
the largest mutual fund in India, Life Insurance Corporation
of India (LIC) and General Insurance Corporation Ltd.
and its four subsidiaries viz. National Insurance
Company Ltd., The New India Assurance Company, The
Oriental Insurance Corporation and United Insurance
Company Ltd. Presently the Bank has a very wide network
of 145 branch offices, 27 Extension Counters and 22
service counters. The Bank has a network of over 516
ATMs providing 24hrs a day banking convenience to
its customers. This is one of the largest ATM networks
in the country. The Bank has strengths in both retail
and corporate banking and is committed to adopting
the best industry practices internationally in order
to achieve excellence.
About CCAvenue
Established in the year 2001and headquartered
in Mumbai, India, ResAvenue provides turnkey e-commerce solutions to hundreds
of e-merchants across India. ResAvenue is the preferred Indian payment-processing service
for e-commerce, providing server-based payment solutions,
enabling merchants to process secure transactions
in real time, 24 hours a day. The company's service
is powered by proprietary technology that integrates
online payment processing, fraud control, financial
reporting and tracking. ResAvenue's
Payment Solutions process credit cards and net banking
transactions and work with any business model, including
Internet call centers and retail. ResAvenue has also formed strategic alliances with leading financial
institutions and technology partners to deliver the
most comprehensive online authorisation and processing
services available to Indian eMerchants. ResAvenue's
secure, complete and leading-edge payment services
maximize growth at every stage of a merchant's business
lifecycle.
For more information about ResAvenue,
visit the company on the world wide web at
www.ResAvenue.com
or call (022)-26000816/46 and 26491524.
