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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)
SIFY 11.46-1.5%9:30 AM EST
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To: Mohan Marette who wrote ()5/16/2000 3:33:00 AM
From: Prashant Buyyala   of 1471
 
Satyam Infoway enters into agreement with Vysya Bank

walletwatch.com

An MoU was signed on 14th May by Vysya Bank Ltd and Satyam Infoway Ltd for an alliance to enable payments over the Internet, for business to business alone for starters and at a later period for business to consumer transactions.

K R Ramamoorthy, chairman, Vysya Bank, is of the opinion that the association with Satyam Infoway would enable exchange of commercial documents through FEDI (electronic document exchange (financial) while the Chief Executive Officer, Mr.R.Ramaraj of Satyam Infoway opined that Satyam would aid Vysya technically and help the bank build an interactive website.

The agreement that has been entered between the two companies would serve to provide a strategic alliance in the area of payment gateways for B2C e-commerce in addition to providing electronic data interchange technologies to the bank and its clients and also customize the solutions for B2B operations.

Among other facilities being offered, information on the bank, non-resident Indian facilities, retail banking products, corporate banking products and information, cash management services and information would also be provided by the interactive website. The bank would also go in for setting up a call centre and a network of direct selling agents.

While the alliance will help Satyam fulfill its objectives as an e- business solution provider it will also serve to establish Vysya Bank as a bank facilitating the financial aspects of electronic commerce in the city.
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