Single card pays all

Providing its consumers a safe and convenient payment instrument, Naveen Surya, Managing Director, ItzCash speaks about its business operation and how it is helping retailers to increase their sale conversion.
Naveen Surya

Providing its consumers a safe and convenient payment instrument, Naveen Surya, Managing Director, ItzCash speaks about its business operation and how it is helping retailers to increase their sale conversion. 

  
Suranjana Basu (SB): What kind of services do you provide to the retail industry? Could you please elaborate?  
Naveen Surya (NS):
ItzCash provides a digital network which facilitates merchants to sell products and services through physical channels on electronic and retail platform. ItzCash card also helps expansion of retail platform.

SB: What kind of technology you use to provide such services?
NS:
We have a payment gateway where ItzCash card’s unique account number and password is used for every transaction. Our integration technology enables our virtual merchants to sell products and services through physical cards. 

SB: Who are your clients in retail? 
NS:
ItzCash has tied-up with more than 5,000 merchants both big and small to provide services to ItzCash’s clients. Merchants are from various sectors which include Travel, Telecom, Shopping, Insurance, Utility etc. To name a few rediff.com, Vodafone, Tata Teleservices, IRCTC, Dish TV, Yatra online, India times, Thomas cook and many more. We have also created a strong network of more than 1,80,000 sales and distributions touch points which include general kirana stores, travel agencies etc.  

SB: What all benefits are experienced by the consumers through this kind of service? 
NS:
ItzCash is a safe and convenient payment instrument for Indian consumer. It gives the power to facilitate micro transactions to its users across India for various products and services. ItzCash has brought its benefits to all socio-economic sections of the society. To reach out to non bankable customers, ItzCash is aggressively expanding its retail network ‘ItzCash World’ &. ‘ItzCash Point’. There are 15,000 ItzCash franchisees branded as ItzCash World” and 1,80,000 touchpoints in Tier I & II towns in the country under the brand name ItzCash Point.  

SB: What is the future prospect of these kind of services? 
NS:
It is a step towards support ‘Cashless Society’.

SB: Where do you like to see ItzCash five years down the line?  
NS:
ItzCash Card Ltd has come up with certain services which bring seamless comfort to millions. ItzCash aims at bringing more people closer to e-commerce and m-commerce. ItzCash is not only transforming the entire digital space but also empowering and changing the lifestyle of the masses. We are just witnessing the advent of e-commerce; the real transformation will be seen in the next few years when customer will use prepaid product to buy all kind of products and services on a digital channel through prepaid cards.

SB: What is the growth of this service industry? 
NS:
We see a huge growth opportunity in prepaid industry as nearly 97 per cent of payments in India are still done directly through cash. In the next five years we expect the pre-paid card industry to grow by almost 100 per cent.  
  
SB: What is the USP of your service?
NS:
ItzCash Card is pioneer in this industry and USP of the product is safe and convenient payments/transactions across all channels. This USP has successfully built a base of 7 million unique users. 

SB: What are the challenges you are facing to promote this mode of payment? 
NS:
Since pre-paid payment instrument is a relatively new concept in India. ItzCash has taken the first step toward bringing about a larger population towards digital convergence by launching a multi-purpose pre-paid card to help people to pay their phone bills, electricity bills, water bills, insurance premium, mobile recharge and property tax etc. online, over the phone or by sms. The launch of the cash card saw a larger number of people shifting towards digital convergence. It helped bridge the digital divide and helped bring many services closer to the larger population. 

We are however positive about the prospect on the growth of this Industry as we already witnessed acceptance of concept in Indian market.  
 
 

Naveen Surya, Managing Director, ItzCash
 
 
 
 
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