Wednesday , 26 October 2016
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ItzCash Makes Strategic C-suite Appointments to Drive Growth

ItzCash Card Ltd. India’s largest and only “Multi Service Payment Solutions Company with annual payment volume of over US$ 2 Billion; today announced the appointment of Bhavik Vasa as ‘Chief Growth Officer’ and Ravi Singh as ‘Chief Business Officer’. These appointments come soon after a series of strategic partnership announcements, all designed to ensure a strong foundation to foster growth across emerging business, a burgeoning startup ecosystem, evolving digital solutions and consumer trends. Both Bhavik and Ravi will report to ItzCash Managing Director Mr. Naveen Surya.


With the current focus on ‘Digital India’ as part of the national mandate, ItzCash is poised to play a leading, transformational role in the next 5-10 years with its strong digital footprint of 110 million accounts cumulatively and  annually servicing 35+ million consumers and industry leading physical network of 75,000+ retail outlets across the country. This timely development in the core leadership team at ItzCash underlines the company’s renewed focus on its next phase of growth while achieving the right balance between the conventional and digital platforms of the company to deliver on ambitious commercial objectives.


As the industry leader, ItzCash has established pioneering partnerships with leading global and local technology stelwarts and e-commerce brands across sectors including Amway, Flipkart IRCTC, OYO, and Uber, the world’s most valued private company among others. This new core leadership team will continue its aggressive expansion strategy to tap newer markets and business sectors. In keeping with the company’s omni-product, omni-channel strategy it is well positioned to offer a new comprehensive portfolio of services leading the path to ‘FinServ Convergence’.The new segments include international remittance, credits and loans, insurance and investments. Bhavik and Ravi will be jointly leading the drive toward these new focus areas.


Speaking about this recent development Mr. Naveen Surya – Managing Director, ItzCash said- ‘’Both Bhavik and Ravi have excelled in their respective roles and been instrumental in building ItzCash into the industry leader we are today. We are confident that they will continue to deliver par excellence in their elevated roles and help shape the future of this company for many years to come. The domain expertise and experience they bring on board is well sculpted for their new responsibilities and I wish them the very best in their individual endeavors.”


Bhavik Vasa in his new role he will be responsible for building and executing a high-level growth driven strategy, cementing strategic partnerships, managing market dominance while delivering innovation for customer and channel partner base. Bhavik who has been associated with the company since 2011 is an entrepreneur turned business strategist with more than a decade of experience, across digital commerce, mobile technologies and emerging payments platforms across Indian and global markets.


Ravi who has been associated with ItzCash since 2012 was Head-Payments and has been heading the business and retail teams of the company. In his new profile, he will further strengthen ItzCash’s dominant presence across 3000+ Indian towns & cities and market leadership in Payments & Money Transfer business verticals. With more than two decades of experience across sectors with the likes of Tata Teleservices Limited, Birla 3M Ltd, Hutchison Max Telecom, Singh reinforced lead play for the company in the Remittance & Prepaid Cards segment.


Both Bhavik and Ravi who has driven unprecedented growth for the company, over 9x, in the last few years in terms of payment volumes and revenues plays a key strategist striking the right balance between the online and offline platforms of the company to drive business growth.


About ItzCash

ItzCash Card Ltd., India’s only “Multi Service Payment Solutions Company” and part of the Essel Group, was established in 2006. A pioneer in the prepaid payment sector in India, ItzCash initiated the concept of ‘digital cash’ to the Indian consumer and various business entities, heralding the beginning towards enabling a cashless transacting society. ItzCash continues to build on its innovation augmenting its product portfolio offering wide choice of payments and money transfer service having issued 110 million accounts till date. It constantly invests in upgrading technology towards creating world‐class omni-channel payments platforms for the emerging India. ItzCash has presence across consumer segments serving 35 million consumers annually and over 75,000 franchisees branded as “ItzCash World” in 3000+ Tier I and II cities and towns. It is backed by world’s leading investors Matrix Partners, Lightspeed Venture and Intel Capital.  


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