Union Bank Of India Partners With ElectraCard Services To Launch E-Com Services

ElectraCard Services, a provider of software solutions for electronic payment systems, has set up an electronic internet payment gateway for Union Bank of India, a public sector lender in India.

According to the company, the payment gateway will offer online, real time payment processing solution, supporting all major credit and debit cards from global payment processing networks and multiple currencies. It will provide transaction acquiring and processing interfaces to web merchants, customers, EFT switches and acquirer networks.

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

"Handling more than 70 per cent of ecommerce transactions in India, electraECOMM is one of our flagship solutions," said Ramesh Mengawade, CEO, ElectraCard Services.

ElectraCard Services, a subsidiary of Opus Software Solutions, enables financial institutions, retailers, finance companies and corporations to electronically process, in real-time, any type of payment transaction, including credit, debit, pre-paid, and ACH.

In addition to typical back office processing, ECS also offers ecommerce gateway and switching solutions. Its solutions support multiple institutions, multiple currencies, and varying processing requirements on a single platform.