ItzCash gets bullish on DTH, cable, movie and mobile bookings

MUMBAI: Essel group company and digital payments facilitator ItzCash generates around 20 per cent to 22 per cent of its Rs 3,000 crore business from satellite cable / DTH recharge by subscribers for Dish TV. Now the company has set itself a scorching growth target of 42 per cent per annum as it bids to notch up business worth Rs 5,000 crore by 2018.

It is banking on the rapid growth in pay TV subscriptions, its new strategic partnerships with India’s largest online ticketing entertainment brand Bookmyshow, mobile bookings and Zee TV group’s on the go OTT platform dittoTV to help it get to that target.

BookMyShow has added a new Cash Top-Up feature to its ‘MyWallet’ to make it even easier for everyone to transact on the app or website. The partnership allows users to recharge their MyWallet by paying cash at the nearest ItzCash World outlet. While in its partnership with dittoTV, the company aims to capitalise on its offline network to offer revolutionary Rs 20 easy-recharge for monthly subscription.

Says ItzCash chief growth officer Bhavik Vasa, “Our partnership with BookMyShow and dittoTV will benefit the larger sections of the society while enhancing customer experience. While with these tie-ups, our partners will leverage our deep entrenched retail network, we plan to aggressively build on our customer base in the online entertainment industry.”

ItzCash has a presence across various segments serving 35 million consumers having 110 million accounts and over 75,000 franchisees branded as “ItzCash World” in 3000 plus cities and towns.

To be fair, the company has been growing at 40 per cent per annum year on year in the entertainment sector. And that’s what’s making Vasa that much more confident.

Says he: “ India is fast becoming a digital country and will soon be the world’s second largest market with 650 million internet users and 520 million smart phone users by 2020 as per a recent Google-BGC Digital Payments report. The food and entertainment sector tops the list of adoption and growth of digital payments.”

Adds BookmyShow vice-president business intelligence and marketing Marzdi Kalianiwala: “At BookMyShow, we believe in customising our offerings to address the needs of our consumers. While acceptance for online payments is on the rise, a significant set of users still remain to be apprehensive about it, either due to lack of proper internet infrastructure facilities or security concerns, which prevents them from actively using BookMyShow to meet their entertainment demands. By introducing Cash Top-Up to our ‘MyWallet’, we are eliminating these barriers and extending our services to those who prefer cash as their preferred mode of payment. We are delighted to partner with ItzCash, which will enable users book tickets on the BMS app and website without having to use their credit/debit cards or net banking.”

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