ItzCash to deploy its 100,000 PoS terminals

KOLKATA/MUMBAI
3 Apr 2017

Now pay, transact and withdraw money at your local kirana store with ItzCash’s Point-of-Sale machine. The company also announced further investment and scale up of its Point-of-Sale terminals. The new move strengthens the company’s presence in the PoS segment further to the 30,000 units deployed immediately in the first three months post demonetization.
The device accepts payments from any cards such as credit, debit, prepaid cards and m-wallets. It also allows customers to dispense cash and select instant EMI options to pay their expenses. Merchants owning ItzCash PoS terminal are also eligible to avail a pre-approved loan of Rs. 25,000 for working capital requirements.
Ravi Singh, Chief Business Officer said, “Earlier many small merchants would discourage customers to use plastic money for payment. However, post demonetisation; we have seen a massive behavioural change in the mind set of traditional brick and mortar retail merchants towards digital payment movement. Furthermore, as per RBI data, we have only 1.5 million POS machines in India; which together underline the existing huge opportunity in the POS payments segment.”
Mr. Singh added, “With this initiative, we are aiming to digitise 100,000 small merchants and shopkeepers by leveraging our robust network of 75,000 outlets present across 3000 cities and towns across India. Within the past 3 months we have already deployed 30,000 units.” (EOIC)