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Infibeam Q3FY20: Digital payments see a 38% YoY growth even as total revenue sees a 50.4% YoY decline

Digital payment solutions and enterprise software solutions provider Infibeam Avenues Limited saw a 38% YoY growth in its digital payments processing volume and a 12% YoY growth in the number of transactions. It also launched B2Biz, Infibeam's bulk payment solution, in January 2020. Infibeam Avenues divested itself of the now defunct Infibeam B2C e-commerce marketplace and technology platform solutions for small and medium enterprises in FY2019. Digital Payments: CCAvenue Digital payment processing volume: Rs 15,852 crore, a 38% YoY growth and a 9% QoQ growth; regulatory reforms in digital payments business affected net revenues, according to the earnings release. Number of successful payment transactions processed: 33.7 million, a 12% YoY growth and a 17% QoQ growth Adding at least 200 merchants/day to the payments business, MD Vishal Mehta said during earnings call. [caption id="attachment_210746" align="aligncenter" width="573"] Performance of CCAvenue. Source: Infibeam[/caption] Partnerships: Partnered with 3 companies to offer cardless payment services — Osta, a cardless payment service of Brontoo Technology Solutions Private Limited, Flexmoney for InstaCred Cardless EMI, ZestMoney for cardless EMIs. Partnered with Riyad Bank to offer digital payment solutions in UAE Added Bank of Baroda's EMI facility in its Multi Bank EMI offering; CCAvenue offers EMI facilities of 15 leading banks Plans to enter card issuance business: Acquired a 48% stake in Go Payments (Instant Global Paytech Pvt Ltd) which it will increase to 52.38% by investing Rs 7 crore. Infibeam is also getting into secured lending, Mehta said. The company will take Rs 100 crore as working…

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