AvenuesAI
 |
 | |
| Formerly |
|
|---|---|
Company type | Public |
| NSE: CCAVENUE BSE: 539807 | |
| Industry | Internet, fintech, Artificial intelligence (AI) |
| Founded | 2007 |
| Founder | Vishal Mehta |
| Headquarters | GIFT City, Gandhinagar, India |
Area served | India, West Asia, USA & Australia |
| Services |
|
| Revenue |  ₹3,171 crore (US$340 million)[1] |
| (FY23-24) | |
| ₹147 crore (US$16 million)[1] (FY23-24) | |
Number of employees | 650 (in 2022) |
| Subsidiaries | Rediff |
| Website | www |
AvenuesAI Limited, formerly Infibeam Avenues Limited, is an Indian AI-fintech company that provides digital payment services, eCommerce platforms, digital lending, data cloud storage and enterprise software to businesses.[2][3][4]
It provides payment infrastructure services through its flagship brand, CCAvenue.[5] Infibeam Avenues claims to have more than 1 crore (10 million) merchants on its platform. It also operates in overseas markets like United States, Saudi Arabia, UAE, and Australia.[6]
It is headquartered in GIFT City, Gujarat, India with offices in Delhi, Mumbai and Bengaluru.[7]
History
[edit]
Infibeam Avenues was established in 2007 by Vishal Mehta.[8] The company was listed on the BSE and the NSE in 2016.
On 7 September 2022, Infibeam Avenues launched its omni-channel mobile app CCAvenue TapPay that allows businesses and entrepreneurs to convert any NFC-enabled Android phone into smart PoS terminals.[9]
In August 2024, Infibeam Avenues acquired a 54.1% stake in internet business firm Rediff.com.[10] Vishal Mehta, the founder of Infibeam, became the chairman and managing director of Rediff.com.[11]
In 2026, Infibeam Avenues Limited changed its name to AvenuesAI Limited. The rebrand was preceded by approval from the Registrar of Companies (ROC), Ministry of Corporate Affairs, Government of India and followed an initial public disclosure made on 11 December 2025. As part of the transition, the company's stock ticker on the National Stock Exchange (NSE) changed from INFIBEAM to CCAVENUE effective 3 February 2026, while its BSE ticker code (539807) remained unchanged.[12][13]
Vishal Mehta, the founder of Infibeam, has assumed the role of Chairman and Managing Director of Rediff.com. He succeeds Ajit Balakrishnan, who has directed the corporation since its inception in 1996. The leadership transition occurs subsequent to Infibeam Avenues Ltd's acquisition of a controlling interest in Rediff.com.[14]
Services
[edit]Payment Processing
[edit]Infibeam provides a digital payment gateway service through CCAvenue. The CCAvenue Payment Gateway offers multiple payment options, supports 18 different languages, and facilitates transactions in 27 major foreign currencies. It also establishes a secure link between websites, institutions, and banks during transactions.
CCAvenue's 'TokenPay' help merchants to comply with the Reserve Bank of India's data security norms by securing multi-network tokenisation, which works across major card networks, including MasterCard, RuPay, and Visa.[15]
The Reserve Bank of India had granted Infibeam Avenues "in-principle" authorisation to operate as a Payment Aggregator (PA) under the brand CCAvenue, to allow a wide range of online and offline transactions. Payment aggregators allow e-commerce platforms and merchants to accept a variety of payment methods from customers, simplifying the payment process and removing the need for merchants to design their own payment integration system.[16]
The Reserve Bank of India has granted Infibeam Avenues Limited, India's first publicly traded fintech startup, a permanent licence for its bill payments platform, BillAvenue. BillAvenue can use this licence to operate as a Bharat Bill Payment Operating Unit (BBPOU) under the Bharat Bill Payment System (BBPS). BillAvenue functions as both a biller and a customer operating unit as a BBPOU, easing the onboarding of Billers and Agent Institutions to service clients.[17]
CCAvenue
[edit]This is India's payment solutions provider and a brand of AvenuesAI Ltd, launched CCAvenue CommerceAI, a platform built around the CCAvenue Model Context Protocol (MCP), which acts as a secure, standardized bridge enabling AI agents and merchant systems to autonomously initiate, orchestrate, and execute payment tasks within a verified and auditable environment. The platform targets high-frequency digital payment sectors including telecom, utilities, insurance, hospitality, and OTT subscription management. The platforms were unveiled at the Global Fintech Fest 2025 in Mumbai.[18]
Merchants Financing/Lending
[edit]Infibeam Avenue has a lending aggregation platform called Trust Avenue. The company has facilitated AI-based lending for 3 million merchants through partnerships with banks and NBFCs.[19]
Data Centre infrastructure services
[edit]The company forayed into the segment of infrastructure or data centre-as-a-service, and built a state-of-the-art Tier-III data centre in GIFT City, Gandhinagar. It received Tier-III design certification from Uptime Institute as it is equipped with fully redundant and dual-powered servers, storage, network links and other IT components.[20] Infibeam Avenues has partnered with IBM India to develop implement and promote blockchain capabilities on the LinuxOne platform.[21][22]
Artificial Intelligence
[edit]Infibeam Avenues announced its entry into the AI-enabled fraud detection industry on August 8, 2023, with the goal of developing Artificial Intelligence (AI) solutions for authentication, fraud detection, and risk identification in both domestic and worldwide markets. In the beginning, the company will focus on the digital payments and financial industries, employing AI and machine learning algorithms to detect online transaction fraud in real time. Infibeam Avenues also intends to build India's first AI HUB at GIFT City.[23]
PayCentral.ai
[edit]PayCentral is India's first Agentic Payment Platform, launched on 8 October 2025 by Phronetic AI, a full-stack Agentic AI company backed by AvenuesAI (formerly Infibeam Avenues Ltd). The platform enables AI agents to autonomously transact on behalf of merchants and enterprises, functioning as an intelligent payment infrastructure layer built on Google's Agent Payment Protocol (AP2) and designed to integrate with multiple Payment Aggregators' Model Context Protocols (MCPs). PayCentral.ai allows AI agents to create dynamic payment links, manage refunds, handle subscriptions, and reconcile accounts without human intervention, marking a foundational step toward Agent-to-Agent (A2A) payments.[24][25]
Mergers and acquisitions
[edit]| Year | Type | Company | Services | Stake | Cites |
|---|---|---|---|---|---|
| 2024 | Acquisition | Rediff.com | Mumbai-based internet company, founded in 1996. It provides news and information, enterprise email | 82% | [26][10] |
| 2024 | Investment | XDuce | Enterprise app and AI development company that specialises in building AI solutions for businesses to optimise their internal operations and customer-facing systems. | 20% | [27] |
| 2023 | Investment | Pirimid Fintech | Capital markets financial software provider. The company develops customised capital markets and digital lending products, tools, and services to meet the industry's needs, globally. | 49% | [28] |
| 2022 | Investment | Vishko22 | Software startup that develops omnichannel enterprise software products and services for domestic and international ecommerce marketplaces. | 50% | [29] |
| 2022 | Acquisition | Uvik Technologies | software point-of-sale | [30] | |
| 2020 | Acquisition | Cardpay Technologies | Bengaluru-based Cardpay Technologies provides unified spend management platform to corporates | [31] | |
| 2018 | Acquisition | Instant Global Paytech | Mumbai-based digital payments tech firm Instant Global Paytech Pvt. Ltd (IGPL), which operates Go Payments | 48% | [32] |
| 2017 | Merger | CCAvenue | Infibeam and Avenues (India) Private Limited entered into a binding agreement to merge and take control of CCAvenue through Equity Stake | [33] | |
| 2017 | Acquisition | DRC Systems | Infibeam Avenues acquired DRC Systems India Pvt Ltd, a company which provides software services for enterprise E-commerce, ERP and related fields | [34] | |
| 2014 | Acquisition | Odigma | digital marketing | $5 million | [35] |
References
[edit]- ^ a b "Infibeam Avenues reports 55% jump in profits at Rs 147 crore for FY24". The Economic Times. 16 May 2024.
- ^ Dutta, Vishal (19 August 2019). "Fintech firm Suvidhaa plans e-commerce foray". The Economic Times.
- ^ "Migration Message" (PDF). Suvideals.ooo.
- ^ "Infibeam's BillAvenue adds 1 million agents; targets reaching 5 million agents by 2025". The Economic Times. 6 March 2023.
- ^ "Infibeam Avenues Unveils CCAvenue SoundBox Max, A Next-Generation Payment Solution for Merchants - Indian Startup Times". Indianstartuptimes. 3 September 2024.
- ^ "Infibeam Avenues Ltd deepens its reach in digital payments". EquityBulls. 4 January 2023.
- ^ S. Prem Kumar. "Infibeam's double-edged strategy". The Smart CEO. Retrieved 29 April 2013.
- ^ Suresh P. Iyengar (6 October 2013). "No competitors here, all are partners". The Hindu Business Line. Retrieved 8 December 2014.
- ^ "Infibeam Avenues launches mobile app with TapPay feature". The Economic Times. 30 June 2022.
- ^ a b "Infibeam Avenues acquires 54.1% stake in Rediff.com for ₹50 crore". BusinessLine. 2 August 2024.
- ^ "Infibeam founder Vishal Mehta becomes Rediff's new Chairman and Managing Director". Business Today. 4 October 2024.
- ^ "Infibeam Avenues rebranded as AvenuesAI". Business Standard.
- ^ "Infibeam Avenues board approves rebranding to AvenuesAI". The Economic Times. 12 December 2025.
- ^ "Infibeam founder Vishal Mehta becomes Rediff's new Chairman and Managing Director". Business Today. 4 October 2024.
- ^ Umarji, Vinay (4 November 2021). "Infibeam's CCAvenue starts TokenPay to help merchants comply with RBI norms". Business-standard.com.
- ^ "Infibeam Avenues receives RBI in-principle nod for payment aggregator licence". The Economic Times. 27 October 2022.
- ^ "Infibeam Avenues announces perpetual renewal of 'Bharat Bill Payment' license by RBI". cnbctv18.com. 26 December 2022.
- ^ "CCAvenue CommerceAI Launched With MCP". Fintechbiznews.com.
- ^ "Infibeam Avenues plans AI-based lending for its 3 million merchants through tie-ups with banks, NBFCs". Financialexpress. 10 August 2021.
- ^ George, Aaron St. "Infibeam Avenues receives Tier III Design Certification from Uptime Institute for its Data Center - equitybulls.com". uptimeinstitute.com.
- ^ "Infibeam Avenues Limited". ibm.com.
- ^ "Infibeam Avenues partners with IBM to deploy blockchain solutions in India". Techcircle. 21 December 2018.
- ^ Thathoo, Chetan (9 August 2023). "Infibeam To Foray Into Fraud Detection Market With Its AI HUB In GIFT City". Inc42 Media.
- ^ "Infibeam's Phronetic AI may come-up with India's first Agentic payment platform,". ETBFSI.com.
- ^ "India gets its first agentic AI payment platform". Inshorts.
- ^ "Infibeam Avenues Sells Ecommerce Platform Business to Rediff in ₹800 Cr Deal". Outlook Business. 8 August 2025.
- ^ "Infibeam Avenues Acquires 20% Stake In US-Based AI Development Company XDuce For $10 Mn". Inc42 Media. 25 February 2024.
- ^ "Infibeam Avenues picks up 49% stake in Ahmedabad-based Pirimid Fintech". Business Standard.
- ^ "Infibeam Avenues invests in software startup Vishko22". The Economic Times. 25 August 2022.
- ^ Vora, Rutam (7 February 2022). "Infibeam to bring technology that converts smartphones into 'payment terminals'". Thehindubusinessline.com.
- ^ "Infibeam Avenues acquires Cardpay Technologies". The Economic Times. 8 June 2020.
- ^ "Infibeam Avenues invests in Instant Global Paytech". www.businesstoday.in.
- ^ "Infibeam set to merge payment gateway firm CCAvenue with itself". Techcircle. 14 February 2017.
- ^ Dutta, Vishal. "Infibeam acquires cloud ERP solutions provider DRC Systems". The Economic Times.
- ^ "Infibeam acquires digital marketing firm ODigMa for $5 mn". Business Standard India. 24 February 2014.
