ItzCash has been able to create access to ecommerce transactions to 80% of the population who does not own a credit/debit card in the country. These consumers are empowered at the same level as of credit/debit card by giving them option to use ItzCash as payment option for any of the services online or on sms or on voice through IVRS. There are more than 8million consumers and are the leaders in payment processing for many large ecommerce portals including IRCTC (Rail Ticket booking), Utility bill payments (BSES/Reliance Energy), Government Payments of various Taxes (MCD/MCGM), DTH (DishTV/Tata Sky and all other DTH operators). A new trend is likely to emerge where consumers can also book the order online and generate their order reference number and then can pay at any of the retail outlets or franchisees like ItzCash World which would reduce the risks related to payment on delivery service for both consumers and businesses. Online payment players like ItzCash provide continuous support by creating payment access to millions of consumers who do not have appropriate payment option other than cash which can not be used on ecommerce transactions. Payment platform like ItzCash are the enablers and create empowerment for large number of consumers to pay with safety and convenience from comfort of their home for various goods and services. ITZ closed to 2200 crores in the year 2009-2010.
Products and solutions
- ICW Master Account - ICW Master Account is an exclusive B2B card which can be used by authorized ItzCash franchisees
- The noQ24x7Prepaid Cash Cards available in various denominations ranging from Rs 250 to Rs 10000 are retailed out of 250,000 franchisees called the ItzCash Points spread across India. The company also provides a home delivery feature for the card
- Reload Voucher - Mini Pack is a unique solution to recharge the noQ24x7Card anytime, anywhere. This recharge voucher is a paper scratch voucher which is available in market in a very small and trendy size
Mr. Shekher Shrivastava, VP- Sales & Marketing, ItzCash Card Ltd shares, “The retail in 2011 will comprise of a high intense activity in physical retail and supported by ecommerce activity in a larger way. The physical retail would be driven by demand from branded retail in high end to medium consumer goods – the prominent driver being mobile, electronics, computer and peripherals sectors. At the high end, we see the retail drive through branded apparels and high end fashion specifically in the woman product segments. Consumer durables would have a significant role to play as we see this year as the year of the LED TV, electronic appliances and refrigerators due to the high intense construction activity of Life style centric properties. We see this year also as a model innovation and renovation year since the current product designs are almost 3 years old. So replacement market will also drive the retail push. In the ecommerce space availability and adoption of alternative payment options shall drive the push”.