Infibeam enters into an agreement with Reliance Jio for its enterprise solutions
Through this deal, Reliance Jio will use Infibeam’s solutions to power its own ecommerce and digital payments services
October 05, 2020 / 07:18 PM IST
Ecommerce company Infibeam Avenues has entered into an agreement with Reliance Jio where the latter will use its enterprise platform for its own ecommerce and payment operations, Infibeams said in a BSE filing on October 5.
This is another major move for Infibeam which had recently bagged the contract to run the government e-marketplace (GeM) in a similar fashion.
Through this deal, the Mukesh Ambani-owned technology major will use Infibeam’s solutions to power its own ecommerce and digital payments services.
While the company did not disclose much owing to strict non-disclosure arrangements between the two parties, sources close to the deal said Jio will run its systems and services for JioMart on the Infibeam platform, but maintenance will continue to be done by Infibeam.
Further the payment offerings from Jio will also be run on the Infibeam enterprise stack.
JioMart is the flagship omnichannel commerce offering from the Mumbai-headquartered technology major, where consumers can order groceries online and fulfilment will be done through physical deliveries.
CCAvenue is the digital payments entity which is part of the Gandhinagar-headquartered Infibeam, the first listed ecommerce and fintech company of India.
As per details on the enterprise offering available in public domain, Infibeam Avenues has a product named BuildaBazaar, which is a B2B cloud-based ecommerce platform that can cater to the needs of large corporations and the government.
The platform allows its corporate clients to transact online, manage orders, inventory and logistics, process digital payments and manage online marketing.
Besides GeM, its other enterprise customers are Sony, Essel World and Nilkamal, among others.Disclaimer: Reliance Industries (RIL) is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.