India-based Sutex Co-operative Bank has partnered with CCAvenue, the payment gateway brand from India-based fintech Infibeam Avenues, to bolster its net banking facility.
Through the new partnership, Sutex Co-operative Bank plans to integrate multi-currency payment processing technology from CCAvenue to enhance its direct debit facility.
The collaboration will enable Sutex Co-operative Bank to route secure direct debit digital payments to its merchants, including multi-currency payments, simplifying transactions for both businesses and customers. This integration underscores CCAvenue’s commitment to enhancing digital payment infrastructure and facilitating seamless and efficient transactions across its network.
Shital A Bhatt, CEO of Sutex Co-operative Bank and T. Nandakumar Menon, senior VP of alliances and operations at Infibeam Avenues, inked the agreement on 13 March 2025.
Two collaborators say the partnership aims to foster significant growth for Sutex Co-operative Bank’s merchant partners, enabling them to engage in national and international business operations more effectively.
“A payments aggregator, CCAvenue has always believed in streamlining the payment process for its business partners, thereby adding convenience to the shopping experience of millions of customers, while also promoting the adoption of digital transactions,” explained Menon. “Our mutually aligned partnership with Sutex aspires to enable more than one lakh merchant partners to receive net banking payments from voluminous Sutex Bank account holders. This venture will progressively expand the bank’s existing customer base and provide substantial augmentation to its revenue growth.”
The Sutex Co-operative Bank was initially founded to offer Surat Textile Market shopkeepers banking facilities and help them to start and manage their businesses.
Since its launch, Sutex has grown into one of the leading banks across South Gujarat, serving thousands of customers with core banking facilities.
After adding The Sutex Co-operative Bank to its payments network, CCAvenue is now a partner to over 60 banks that have integrated with its direct debit engine.
