Press Releases2011

Dec 27, 2011
ItzCash featured by Forbes India in January, 2012 issue, as one of the '11 startups to watch in 2012

For the last four years prepaid card company Itz Cash has done a stellar job of growing and holding itself back at the same time because a conservative Reserve Bank of India (RBI) didn't want to allow private players to offer cash cards, in spite of the market reality that such products would be lapped up by tens of millions of Indians. But with RBI having relaxed its stand Itz Cash is poised to be one of the leaders in prepaid money cards that can be used for paying a mobile bill or withdrawing money from an ATM.

Mr. Naveen Surya, Managing Director, Itz Cash Card Ltd. expects overall transaction volumes to jump from 1$ billion in 2011 to 2.5$ billion in 2012.

Itz Cash Card Ltd., India's only “Multi Service Prepaid Card Company” and part of the Essel Group, was established in 2006 and today has an annual turnover of Rs.3000+crores. A pioneer in the prepaid payment sector in India, ItzCash initiated the concept of prepaid payment solutions to the Indian consumer and various business entities, heralding the beginning towards enabling a cashless transacting society.

« Back