Infibeam Avenues shine on entering US markets

The shares of Infibeam Avenues Limited were shining on Thursday after the company announced that it is extending its foray into US.

Indian internet and e-commerce company, Infibeam Avenues announced this on Wednesday post market hours. No denying the fact, United States (US) is considered to be the world’s second-largest digital payments market by revenue. After operating for two decades in the domestic market, the company earlier forayed into West Asia, UAE and Saudi Arabia under its brand-CCAvenue and now, its all set to enter into US markets. Infibeam’s entry into US would open new doors for the company, where it would be functioning under the same brand.

With this new expansion, the company will offer its vast array of digital payment solutions to web and mobile-based Small and Medium Enterprises (SME), especially in online retail, education, hospitality, travel & tourism, apart from other industry verticals under the brand-CCAvenue.

At 11.58 am on Thursday, the stock of Infibeam Avenues Ltd is trading at Rs 57.70, up by 2.12 per cent against its previous close of Rs 56.50. Its 52-week high is Rs 61.25 and its 52-week low is Rs 32.90 on BSE.