May 1, 2003 * Federal Bank Fed Net Banking
payment option now available on CCAvenue
May 1, 2003. There is good news for Federal Bank Fed Net Banking
Account Holders. You can buy goods and services of over a
thousand of CCAvenue's appointed merchants sites and pay directly
through your Federal Bank Fed Net Banking account. This is
now possible because Federal Banks latest tie-up with CCAvenue.com,
India's first neutral online payment gateway.
THE FEDERAL BANK LTD. is a regional banking giant with strong
national presence and global reach. From its humble beginning
as Travancore Federal Bank Ltd. almost 5 decades ago, Federal
Bank has grown to become India's largest private sector bank
and is now the largest scheduled commercial bank in Kerala.
Today it has more than 2 million account holders and has more
than 400 branches worldwide. It has strong patronage of NRI
Community and NRI deposits constitute 28 % of its total deposits.
In the year 2000, Federal Bank launched its Internet Banking
Facility "FedNet", which is hugely popular with
NRI's based in the Middle East. This facility is now live
and available as part of the ever expanding bouqet of payment
options from CCAvenue.
Mr. Vishwas Patel, CEO of CCAvenue.com mentioned, "We
had been in talks with Federal Bank 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 Federal Bank in high esteem."
CCAvenue's merchants have further access to thousands of
Federal Bank's FedNet 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,
CCAvenue seems to be charting the right path, as it quietly
builds its network for the better times to come.
