ItzCash targets to deploy 1 lakh PoS terminals further expand the digital reach

ItzCash, the financial technology startup, is planning to add 70,000 Point of Sales terminals to enable its merchants to accept digital payments through cards. The startup had already deployed 30,000 terminals till now after the demonetization move by the government of India. The device which accepts all forms of cards and mobile wallets also enable the merchants using it to get a pre-approved loan of INR25,000 for working capital requirements. It expects PoS deployment to contribute ~15% to its total business.

Ravi Singh, Chief Business Officer ItzCash, said that “Post demonetization, we have seen a massive behavioral change in the mind set of traditional brick and mortar retail merchants towards digital payment movement, with this initiative, we are aiming to digitize 1,00,000 small merchants and shopkeepers by leveraging our robust network of 75,000 outlets present across 3000 cities and towns across India”.

As per RBI’s statistics, India has only 1.5 million PoC machines compared to the billions of dollars of transactions which happens across the country daily. Seeing this potential, ItzCash is cashing on the under explored arena, and trying to bring as many merchants under its ambit as possible.