UBI, ElectraCard to launch e-commerce services

MUMBAI, INDIA: ElectraCard Services, a provider of software solutions for electronic payment systems, has set up an electronic internet payment gateway with its solution, electraECOMM, for Union Bank of India (UBI).

ElectraCard’s electraECOMM is a secure, online, real time payment processing solution, supporting all major credit and debit cards from global payment processing networks and multiple currencies, the company claimed in a press release.

It provides transaction acquiring and processing interfaces to Web Merchants, Customers, EFT Switches & Acquirer Networks.

ElectraCard Services will host the payment gateway and merchant management systems for Union Bank of India from its state-of-the-art data centre in Mumbai. Along with electraECOMM, UBI has also implemented electraSECURE, a solution that will enable safe online transactions.

Shri Lalit Sinha, GM, UBI, said, “Our Bank is one of the forerunners amongst the peer banks in the area of technology banking and payment gateway business fits strategically to our overall value proposition to the target customers. We believe the tie up with ElectraCard Services would be beneficial to both the organizations.”

Ramesh Mengawade, CEO, ElectraCard Services, said, “Handling more than 70 per cent of e-commerce transactions in India, electraECOMM is one of our flagship solutions. We are confident that our platform will provide a superlative ecommerce experience to Union Bank of India customers.”