cashless

US Based Ebix Invests $123 Mn In ItzCash, Acquires 80% Stake; Matrix, Lightspeed, Intel Exit

US Based Ebix Invests $123 Mn In ItzCash, Acquires 80% Stake; Matrix, Lightspeed, Intel Exit US-headquartered Ebix Inc., has invested $123 Mn (INR 800 Cr) in Mumbai-based payments solution firm ItzCash against 80% stake in the company. The funding has been done at a valuation of $150 Mn and Ebix will now be the majority shareholder in the company. … Continued

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

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

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

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Making digital India dream a reality: ItzCash

The Banking and Finance Post, November 9, 2016 India is on the verge of becoming a digital nation and we are ensuring the same by converting cash into digital money both at the rural and urban level says Ravi Singh, Chief Business Officer, ItzCash in an exclusive conversation with Rashi Aditi Ghosh of Elets News … Continued

Hunting Black Bucks

Business Today.in , November 6, 2016 PM Narendra Modi’s regime is squeezing the avenues for generation and circulation of black money, but more reforms are needed to speed things up. In the 2014 elections, nobody tapped the public mood against corruption as well as Narendra Modi – one of whose promises included bringing black money … Continued

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For more and more Indians, ‘cashless’ is king

The Hindu Business Line, Mumbai, October 30, 2016 For more and more Indians, ‘cashless’ is king The Center’s initiative to move from a cash-driven economy to a cashless one so as to improve audit trails, plug revenue leakage, and target subsidy transfers to the needy seems to be bearing fruit.Data from the RBI, sourced through … Continued

India set to go cashless – thanks to UPI, Aadhar

Voicendata.com, October 24, 2016 India set to go cashless – thanks to UPI, Aadhar An astounding 233 million Indians do not have any type of access to a bank. It is a fairly bleak situation. Furthermore, a significant number of accounts have a balance of zero, according to PricewaterhouseCoopers (PwC). Despite having the world’s second … Continued