One of the early entrants in the digital payments space was ItzCash, set up in 2006 as a subsidiary of the Essel Group by Ashok Goel of Zee and former Dish TV executive Naveen Surya. ItzCash was launched as a prepaid cash card and a semi-closed wallet service — customers could use it to make payments through a mobile app, on the internet or through IVRS. “Many tech-based companies such as Rediff and Indiatimes were facing issues with customer payments because the latter didn’t have credit or debit cards. We, meanwhile, were launching a technology product [Dish TV set-top boxes]. So, we thought that if customers could walk into retail outlets and top up a prepaid account in the form of a wallet or prepaid cash card, it would solve the problem of making payments without plastic currency,” says Surya, managing director of ItzCash.
One of the digital payments pioneer, ItzCash is eyeing the international money trnasfer business
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