CCAvenue launched BIN-based promotion facility in order to encourage online payments. This tool will allow merchants to tie-up with the banks and rollout promotional offers to attract more customers.

A survey conducted by the Boston Consulting Group (BCG) in 2013 concluded that nearly 30 per cent of Indian consumers are driven by discounts and other promotional offers while making online purchases. One of the key drivers in this decision is the immense satisfaction of getting something substantial in return for the purchase.

CCAvenue claimed that BIN-based promotions offer several advantages to customers, merchants as well as the banks. These promotions allow customer segmentation so that businesses target the appropriate.

How will this tool work?

Merchants can have an agreement with multiple banks and finalize on discounts and cash back offers as part of a strategic alliance or tie-up with co-branded credit cards or debit cards. Every bank has a unique 4/6-Digit BIN (Bank Identification Number) which acts as an identifier with that bank and card type. It generally appears at the start of the 16 digit long number on the bank’s credit card or debit card. Merchants can upload the BIN pertaining to the participating bank from their backend and enable the special pricing across its promotional offerings.

Currently if any merchant has to enable this facility directly with the banks, they have to differentiate by taking card details in their website. This process includes a cost involved to be PCI compliant which runs into several lakhs. It is convenient for the banks as it helps in faster rollout of promotions on merchant websites.

With CCAvenue, there is no extra cost for enabling this service, claimed the company.

A statement from CC Avenue said, "CCAvenue has always strived to be more than a payment gateway. It has been constantly adding new payment options and features for customer convenience. Recent progress reflects, Avenues India is the first Indian payment gateway to tie up with DBS Bank for offering its payment options. It is also the first payment gateway to launch the much talked-about EzeClick facility from American Express."