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E-commerce services launched by Union Bank of India

SearchCIO.in Staff

Union bank of India has launched e-commerce services using electraECOMM, electronic payment gateway solution by ElectraCard Services (ECS).

The payment gateway solution will be integrated with the bank's

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core banking system, thus facilitating e-commerce services. The bank expects the new facility would supplement its present revenue-pool. Its customers can now have access to e-commerce services to facilitate secure, real-time payment processing. ElectraECOMM supports all major credit and debit cards from global payment processing networks and multiple currencies.

Along with ElectraECOMM, Union Bank of India has also implemented ECS’s ElectraSECURE for secure online e-commerce services. ECS informs to be a PCI DSS certified third party processor (TPP) for MasterCard and VISA.

Lalit Sinha, general manager, Union Bank of India comments, “The e-commerce services and payment gateway business fit strategically to our overall value proposition to the target customers. We believe this tie-up with ElectraCard Services would be beneficial to both organizations.”

ECS will host Union Bank’s payment gateway and merchant management services from its Mumbai data-center, according to ECS CEO Ramesh Mengawade.