ItzCash to invest in safe digital payment option
Friday, 12 October 2007, 19:30 IST
Printer Print Email Email
New Delhi: ItzCash Card, a subsidiary of Essel Group of Companies, announced Thursday a funding of $10 million by Matrix Partners India and Intel Capital in the company. The company plans to utilise the money towards expansion of payment markets and rollout of innovative products. Ashok Goel, non-executive chairman of ItzCash, said: "We will offer a safe and easy payment option to every Indian for seamless transactions across digital and physical domains." "It will enable consumers to pay their utility bills without any hassles and will be a potent tool of easy paying option for their shopping," he added. On being associated as partner, Avnish Bajaj, co-founder and managing director of Matrix Partners India, said: "We are delighted to be associated with ItzCash, which we believe is strongly positioned at the intersection of a very large pre-paid card issuance and payments processing opportunity in India."
Source: IANS
siliconindia