Bank of Bahrain and Kuwait signs agreement with Avenues

29th April 2009 – Mumbai, India

'Continuous evolution and excellent service are the keys to customer satisfaction.'

Avenues and the Bank of Bahrain and Kuwait (BBK) share a common focus ‘to provide their customers the absolute best in terms of technology and service’ and they have announced that they are joining hands to further this objective.

The Bank of Bahrain and Kuwait has signed a net banking agreement with Avenues the parent company of CCAvenue, which is also the largest ecommerce company in South-Asia. This agreement will not only consolidate Avenues' position as the largest direct debit engine in India but will also enable BBK customers to purchase products and services directly online easily.

Thousands of merchants utilize CCAvenue and BBK customers will now easily be able to buy and pay for products directly through their BBK bank account or with their BBK debit card. The Avenues' associated merchants will also benefit from this agreement, as it will expand their reach to new market.

Avenues' CEO Mr. Vishwas Patel said, 'Avenues continuously strives to provide its associated merchants with best in terms of payment options. Last year, we added 7 Indian banks to our direct debit engine and a new payment type - debit cards with 11 options. This year has begun successfully with 5 new net banking and debit card tie-ups and the introduction of a new phone payment mode – PhonePay. With more tie-ups in the pipeline, we aim to become not only the largest debit engine but the best payment solution in India and the world.'

About Bank of Bahrain and Kuwait
The Bank of Bahrain and Kuwait was established in 1971 in both the Kingdom of Bahrain and the State of Kuwait. It is involved in almost all sectors of business - Government, Public companies, large corporations, medium sized companies or small commercial outfits.

BBK employs the avant-garde technologies to make banking simpler, convenient and flexible. It provides top quality services through a number of dedicated and professional account managers that are here to serve you at all times. Currently, the bank now operates in four countries with 17 branches in Bahrain and international branches in Kuwait, Mumbai, Hyderabad and a representative office in Dubai (UAE).

About Avenues
Avenues is a profitable, debt-free company and currently services thousands of eMerchants worldwide through its solutions - www.CCAvenue.com, www.ResAvenue.com, www.EventAvenue.com, www.MembersAvenue.com, www.TrustAvenue.com. It is incorporated in India, and has offices in Singapore, Hong Kong, and USA. Avenues is the largest integrated eCommerce solutions provider in South Asia and has shown revenue growth and profit growth consistently, year on year. For more information, log onto: www.Avenues.info.