Press Release

Pre-paid cards innovate fast after demonetisation

Pre-paid cards innovate fast after demonetisation The push towards a cashless society is seeing new developments in pre-paid cards. And these cards are being used for a much wider range of services. Now, you can eat at a restaurant, pay toll charges, fill fuel in your car, buy medicines at pharmacies, book air tickets, do … Continued

Transforming the digital payments landscape

Our country is on a journey to becoming a digital superpower and, over a period of time, we all have realized that this vision of Digital India cannot be complete without digitizing cash-use in our country. A less-cash environment is completely dependent on a robust digital payments ecosystem, which is still at a nascent stage; … Continued

Carbon Credit – like system can curb cash usage

Carbon credit-like system can curb cash usage Cash is an expensive cost to India’s economy. A recent report concluded that India spends about Rs 21,000 crore annually in currency operation costs. This includes printing, storing and transporting the cash, as well as the expenses incurred by banks in setting up and maintaining ATMs. Then there … Continued

Labour gain

Labour gain Kris Lakshmikanth, CEO of the recruitment firm Headhunters India, was recently at Indian Institute of Management Ranchi to give a lecture. He had lunch at the institutes cafeteria, and when he was about to pay the bill the cashier requested him to pay through Paytm. Lakshmikanth was a bit surRs prised that digital … Continued

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Value Of Online Payments Falls In December Despite Government’s Digital Blitz

Despite the government’s push for digital payments after demonetisation sucked 86 percent of currency in circulation out of the economy, data for the last two months may not enthuse many. While the number of digital transactions has jumped multi-fold, the total value of non-cash payments declined 12 percent in December compared to the average of … Continued

ItzCash’s Attempt To Make India Financially PHYgital

In the mid-2000s, Internet penetration had just begun in the lower sections of society and mobile adoption was increasing. But, when it came to payments or any kind of financial transactions, there was cash and only cash. “In 2005-2006, 97% was cash and only 3% was digital,” begins Naveen Surya, the co-founder of payments platform ItzCash. “This … Continued

Rupay card usage via PoS machines triples in Nov

Rupay card usage via PoS machines triples in Nov Rupay cards have seen a surge both in terms of value and the number of transactions in November, according to data compiled by the National Payments Corp. of India. The increase is more at Point of Sale (PoS) machines  than at e-commerce websites, indicating people’s preference … Continued

Digital payment firms happy with Centre’s push

Digital payment firms happy with Centres push The digital push by government through incentives and demonetization has come as a booster to the financial technology companies or digital payment companies and they are expected to pass on the benefits to the consumers. Naveen Surya, chairman, Payment Council of India and managing director, ItzCash told this … Continued

ItzCash ties up with 100 cos for pre-paid cards

ItzCash ties up with 100 cos for pre-paid cards Digital payments facilitator ItzCash has signed up with 100 small- and large-sized companies to offer pre-loaded salary cards for their employees in the wake of cash withdrawal limits from banks post ban on Rs 500/1000 notes. The company said it has been witnessing a sharp three … Continued

India’s first payment firm IPO – ItzCash?

Volumes cross $2 billion; 40percent uptick in transactions after demonitsation. The country’s largest pre-paid player,ItzCash– part of the $2.4 billion Essel group – may well be the first in the pure-play payments space to go in a for public float of shares. It’s also open to the option of roping in a strategic partner as … Continued