Union Bank of India Partners with ECS for Payment Gateway

July 18, 2011

ElectraCard Services (ECS) has partnered with Union Bank of India to host a payment gateway and merchant management system for the Mumbai-based financial institution. ECS’s electraECOMM gateway handles more than 70 percent of e-commerce transactions in India, according to Ramesh Mengawade, the company’s CEO. Union Bank of India hopes to leverage the popular gateway for its merchant customers that want to transact online. “Our bank is one of the forerunners amongst the peer banks in the area of technology banking and payment gateway business fits strategically to our overall value proposition to the target customers,” said Shri Lalit Sinha, general manager of Union Bank of India. We believe the tie up with ElectraCard Services would be beneficial to both the organizations.”