Itzcash provides various payment-related solutions: These include payment of utility bills, recharges, remittances, online purchase of travel and other products. So far it has issued a cumulative total of 88m unique prepaid instruments, out of which 25m are active and 10m are mobile users. The total payment value has grown from USD450m in F13 to USD1333m in F15. The four key verticals are travel, recharges, utilities and remittances. Average ticket size is US$10.
ItzCash Mobile users have been growing rapidly for the company: This base grew from 4m in April 2014 to 10m in Jan-15. The company's remittances business has grown to become one of the top 3 players in the country. Monthly volumes have grown from US$7m in April 2014 to US$50m in January 2015.
The average commission rates would be 2% of total payment volumes and it shares 1.5% with its channel partners. 80% of business comes from direct relationships with consumers and merchants; the remaining 20% comes from aggregators.
The company has 50k retail outlets in 3000 cities with ?feet on street? team size of 300 people. So far the company has invested cumulatively Rs300 crores in the business. It plans to expand its payment volumes to 10x and for that it plans to expand the reach of its retail outlets to 150-200k.
