ItzCash eyes Rs 60 crore from corporate gifting during festive season

Times of India, Chennai, October 19, 2016

ItzCash, a leading player in the digital payments space, is eyeing Rs 55 crore-Rs 60 crore in revenues from its ‘corporate gifting’ segment during the festival season. The company said it is all set to double revenues to over Rs 350 crore during 2016-17.

ItzCash is a prominent player in the ‘corporate gift & incentives solutions’ space and is serving more than 2,000 clients across the country annually. Nearly a quarter of its business comes during the month leading to the Diwali festival season alone.”This year has been particularly buoyant with the bountiful monsoons and the positive market sentiments which is all set to realign the gifting landscape in the corporate world,” said Bhavik Vasa, chief growth officer, ItzCash.

“Customised digital gift cards is the flavour of this season. We are already witnessing a seamless uptake across all industry sectors and leading corporate houses,” he said. “Moving from paper gift vouchers, to plastic gift cards, now the digital format of gift recharges and gift cards is the newest trend,” ItzCash said.

“The gift cards industry has been recently picking up significant momentum, and has witnessed a growth of more than 300% over the last year alone. Digital gift is poised to lead this overall growth, which is estimated to cross Rs 10,000 crore by FY20 (2019-20),” the company said.