Infibeam Avenues signs deal to license ecommerce and payment software to Jio Platforms

Infibeam Avenues said it has signed a deal to license its ecommerce and payment software to Jio Platforms, Reliance Jio’s digital platform venture.the company said in a BSE filing. Infibeam Avenues is the Gandhinagar-headquartered parent of payment gateway company CCAvenue.

“We hereby inform that the Company has entered into a definitive agreement with Jio Platforms Limited and its affiliates, to license , customise, maintain and access our Enterprise E-commerce Software and Payments Platform for their business use,” the company said in the filing.

The company’s platform allows enterprises to transact online, manage orders, inventory and logistics, process digital payments and manage online marketing.

Infibeam also won the contract to run the government e-marketplace (GeM). Apart from GeM, other enterprise customers include Sony and Nilkamal, among others.

In the first quarter of FY 21 ended June, Infibeam’s operating revenue stood at Rs 103 crore, a 24% decline as compared to Rs 136 crore in Q4 FY20. Net profits after tax also fell by 58.6% at Rs 12 crore, a drop from Rs 29 crore in the first quarter of FY 20 (y-o-y basis).

Jio Platforms is an integrated tech platform that offer digital services including streaming music, online retail, education, agri services and telemedicine.

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