| |
|
|
2001 |
|
November 1, 2001 * ResAvenue welcomes Citibank to its network
Citibank account holders in India will soon be
shopping online through ResAvenue,
India's first and only neutral online payment gateway. ResAvenue
has teamed up with India's largest credit card organization, Citibank,
to extend its online payment services to hundreds of Indian Merchants'
web sites.
Citibank was the first card company to come into India in the
early nineties and introduce the concept of credit payments to
the average Indian consumer. Today, that brave first step has
paid off with Citibank still being one of the most preferred credit
cards in the country.
Over the years, Citibank has consistently offered value-adds and
extras to its account holders and card members. Now with this
tie-up with ResAvenue,
Citibank expands the convenience to its patrons: the facility
to pay online at hundreds on Indian merchants websites.
"As a pioneer in online payments, ResAvenue
is committed to providing a safe, reliable and convenient method
for online sales and purchases. With Citibank now in its list
of 'accepted cards', ResAvenue
has made e-commerce safe and easy for millions of Citibank card
members across India," said Mr. Patel, CEO, ResAvenue.
"By partnering with Citibank, ResAvenue
users will now have an additional choice of payment for secure,
online transactions." This partnership will make several
other brand names available as payment options to ResAvenue
customers. These include names like Diners Club International,
and Citibank E-Cards, along with conventional Visa and Master
Cards.
ResAvenue
enables any business to receive online payments securely, conveniently
and cost-effectively. ResAvenue
network builds on the existing financial infrastructure of bank
accounts and credit cards to create a global payment solution.
ResAvenue
is a popular payment network for online auction websites and is
being increasingly used at e-commerce sites for the sale of goods,
services.
About Citibank
Citigroup (NYSE:C), the pre-eminent global financial services
company, provides some 120 million consumers, corporations, governments
and institutions in more than 100 countries with a broad range
of financial products and services, including consumer banking
and credit, corporate and investment banking, insurance, securities
brokerage and asset management. Major brand names under Citigroup's
trademark umbrella are Citibank, CitiFinancial, Primerica, Salomon
Smith Barney, and Travelers.
Citibank is a member company of Citigroup, the largest and the
most diversified provider of financial services in the world.
With its 99-year history, Citibank has come to be acknowledged
as one of the leading international banks in India, with a track
record of outstanding business milestones.
In India, it was the pioneer in :
- consumer banking, being the first to introduce focused consumer
lending programs;
- electronic banking, having made significant investments in technology.
- launching credit cards in India, and ranks amongst the leading
credit card issuers in the country with over 1.5 million card
members (i.e. over 70 % of the Indian credit cards are issued
by Citibank. It has done 'Due Diligence' and maintains complete
detailed records of more than 70% of Indian Credit Card Holders.).
Citibank is also amongst the first to launch the Real time Internet
Payment Gateway services in India. It will act as ResAvenue's
acquiring bank to provide proprietary payment gateway services
and will allow Citibank Net Banking and Debit card transactions
through ResAvenue.
About ResAvenue
Established in the year 2000 and 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 and financial reporting
and tracking. ResAvenue
Payment
Solutions process credit cards and net banking transactions and
work with any business model, including Internet call centres
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 Merchants.
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 www.ResAvenue.com
or call (022)-26000816/46 and 26491524.
