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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

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Paytm, ItzCash, RazorPay and PayU making most of this unexpected business opportunity

Paytm, ItzCash, RazorPay and PayU making most of this unexpected business opportunity It has been an extremely busy period for the fintech industry right from the night of November 8, when the Prime Minister announced demonetisation of high denomination currency notes. For companies in the sector, it was a boon. Banks, on the other hand, … Continued

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ItzCash comes to aid of foreign tourists with prepaid cards

ItzCash comes to aid of foreign tourists with prepaid cards Digital payments company ItzCash has extended the use of its prepaid cards to foreign tourists travelling to India to manage their expenses during the cash crunch in the country. The company started dispersal of prepaid cards through two forex companies at the international airport in … Continued

Comments Off on Naveen Surya in an exclusive talk to Indiatoday.in

Naveen Surya in an exclusive talk to Indiatoday.in

Business Today.in , November 29, 2016 Digitization is the next step after demonetization. Technology firms and start-ups are coming together to offer the best e-wallet to customers for making online payments, across all categories. Cyber threats still exist, but the challenge still remains i.e. the customer education. Naveen Surya, chairman of the Payments Council of … Continued

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Demonetisation: Why the challenge to take digital payment to rural India is as huge as the opportunity

The Economic Times , November 27, 2016 Demonetisation: Why the challenge to take digital payment to rural India is as huge as the opportunity  Dhaturi, a dusty village in Haryana some 54 kilometres from the national capital, is like any other hamlet in North India: a cluster of half-plastered, concrete buildings housing kirana stores; semi-paved … Continued