ItzCash Card Ltd to have 3,000 franchisees in Punjab

Prepaid solutions provider ItzCash Card Ltd is planning to take its franchise count to 3,000 by March 2015 in Punjab. Other than 2,000 franchises in the state, the firm has provided 4.5 lakh cards, of which half are active.

The company, which is a part of $ 2.4-billion Essel Group, targets a turnover of Rs 7,000 crore across states this financial year, from Rs 5000 crore in 2013-14. The company has 50,000 points of sale, including kirana shops in as many as 3,000 cities. It is finding a great opportunity in highly cash-intensive market, with more than 97 per cent transactions effected in cash.

ItzCash Card Ltd, which was launched in 2006, has evolved from being India’s first and largest non-bank entity to offer prepaid cash cards to the leading holistic payments solutions company at present. It boasts of being the first company, which has been issued the Certificate of Authorization by the Reserve Bank of India (RBI) under the Payment and Settlement.