ItzCash has announced a partnership with online marketplace Flipkart to reach out to the next billion segment or primarily the ones without having access to either a debit or a credit card.
This partnership is in the form of a co-branded online store http://itzcash.store.flipkart.com/, which will be available across more than 75,000 franchisee stores of ItzCash called ‘ItzCash World’.
“ItzCash has been a pioneer in serving the under-banked segment through its prepaid payment instruments since 2006 and this association with Flipkart has opened doors for the said segment to transact online and fuels their aspirations further,” said Naveen Surya, managing director, ItzCash.
The partnership will leverage the existing retail presence at more than 75000 ‘ItzCash World’ outlets and opens up Flipkart’s online shopping channel to customer in tier-3 and -4 towns and cities, ItzCash, a multi-service payment solutions company, said. “The next big base of adoption for e-commerce will come from SEC B, C segments as well as tier-2 and tier-3 cities,” said Mausam Bhatt, senior director, growth, Flipkart.
“Engaging with customers in these markets using innovative ways has been very crucial for Flipkart,” he stated. “This partnership should help us communicate with and handhold a certain segment of the offline consumer base through channel partners of ItzCash,” Bhatt said.