IndusInd Bank launches Internet Payment Gateway as a part of its Payment Solutions business Estimated reading time: 3 minutes, 27 seconds

IndusInd Bank launches Internet Payment Gateway as a part of its Payment Solutions business

Posted on Saturday, July 30th, 2016 | By IndusInd Bank

Mumbai, July 30, 2015: IndusInd Bank has further strengthened its Payment Solutions business through launch of an Internet Payment Gateway for enabling online acceptance of credit/debit and Prepaid Card. The Payment Gateway will support acquisition of VISA, MasterCard and RuPay cards, besides net banking transactions.

IndusInd Bank has partnered with Pay U India (part of Naspers Group) to offer users the convenience of better success rates, faster processing, customized MIS Reports, large number of convenient modes of payments like accepting of Credit Cards/ Debit Cards/ large no of Net banking options, Mobile Payments / IVR etc. In addition through the partnership with Pay U India, IndusInd Bank customers/Merchants can avail PayUMoney -an innovative and a disruptive service ,which has been launched by PayU India to tap into segments that have high potential but are constrained to go online due to various factors.

IndusInd Bank has been in Point- of- Sale Merchant Acquiring business since 2011 and with the launch of the Payment Gateway will now be catering online merchants including government departments.

While launching the service Mr. Ritesh Raj Saxena, Head – Savings, Digital & Payments Business, IndusInd Bank said, We are pleased to partner with PayU India, one of the l argest Payment Processors & Aggregators, in our endeavor to provide value added payment services to our business partners and retail customers alike. Customers are increasingly looking at digitalization for improving their business efficiencies and attracting the increasingly online savvy customers across cities and towns, and partnering with PayU helps us in providing them with an appropriate platform to build their digital business ecosystem. Retail customers too can expect smarter, more contextual onlin e payment propositions, with PayUs partnerships covering their every-day payment cycle.

Shailaz Nag, COO and Co-Founder, PayU India said,“We are extremely delighted to become the technology partner of IndusInd Bank for the newly launched Payment gateway. We boast of a seamless, glitch free, transparent, user friendly and above all a highly secure technology. We are confident that IndusInd group and its customers would appreciate the new digital experience.”

About IndusInd Bank

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel distribution network. As on June 30, 2015, IndusInd Bank has 811 branches and 1,543 ATMs spread across the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. It enjoys clearing bank status for both major stock exchanges -BSE and NSE-and major commodity exchanges in the country,including MCX, NCDEX, and NMCE. IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings a study published by the WPP and conducted by Millward Brown.

Ratings:

  • ICRA AA+ for Lower Tier II subordinate debt program by ICRA
  • ICRA AA for Upper Tier II subordinate debt program by ICRA
  • CRISIL A1+ for certificate of deposit program by CRISIL
  • CARE AA+ for Lower Tier II subordinate debt program by CARE
  • IND A1+ for Short Term Debt Instruments by India Ratings and Research
  • IND AA+ for Lower Tier II subordinate debt program by India Ratings and Research
  • IND AA for Upper Tier II subordinate debt program by India Ratings and Research
  • IND AA+ for Senior unsecured bonds program by India Ratings and Research

Twitter –@MyIndusIndBank

Facebook –https://www.facebook.com/OfficialIndusIndBankPage

For more details on this release, please contact:

Mohit Ganju
IndusInd Bank Ltd.
Mohit.ganju@indusind.com
0124-4749500
Namita Sharma
Adfactors PR Pvt. Ltd.
Namita.sharma@adfactorspr.com
9820950663

Disclaimer-

“This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the bank and management, as well as financial statements.”