Digital payments solutions company Infibeam Avenues is consolidating its international operations in order to aggressively tap and expand its global digital payment gateway infrastructure market.
According to a press release, the company's three fully-owned international subsidiaries - Infibeam Avenues Australia Pty Ltd (Australian market), AI Fintech Inc. (USA market), and Infibeam Avenues Saudi Arabia for Information Systems Technology. Co (Saudi Arabia market) - will become stepdown subsidiaries as part of the consolidation restructuring. They would be transferred to Infibeam Avenues Ltd's whollyowned subsidiary in the UAE, Vavian International Ltd, which claims to be the second largest payment aggregator in the UAE. The board of directors of Infibeam Avenues has also approved the consolidation.