UBI ties up with ElectraCard for online payment gateway

UBI ties up with ElectraCard for online payment gateway

Mumbai: Leading state-run lender Union Bank of India (UBI) has roped in electronic payment leading software solutions provider ElectraCard Services to set up an online payment gateway, called ElectraEcomm.

ElectraEcomm is a secure, real-time payment processing solution, supporting all major credit and debit cards from global payment processing networks and multiple currencies.

It provides transaction acquiring and processing interfaces to web merchants, customers, EFT switches and acquirer networks, the company said in a statement here on Wednesday.

ElectraCard will host the payment gateway and merchant management systems for Union Bank from its data centre in Mumbai. The bank has also implemented ElectraSecure, a solution that will enable safe online transactions.

ElectraCard, a subsidiary of Opus Software Solutions, claims to be handling over 70% of ecommerce transactions in the country.