The Hindu : Pre-paid card launched

Online edition of India's National Newspaper
Thursday, Oct 16, 2003

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Other States - New Delhi

Pre-paid card launched

By Our Staff Reporter

NEW DELHI OCT. 15. India's first multi-purpose pre-paid card, "ITZ Cash'' was today launched by Essel Group. To promote the unique concept that is expected to add different dimensions to the business of retailing, the Essel Group has launched a company called Intrex India to promote ITZ cash card.

This card is expected to enable consumers to conveniently shop online, buy internet connection packages, make international calls through Voice over IP and play online games. The cash card comes in denominations of Rs. 100, Rs. 250 and Rs. 500. To ensure security, each card has a unique account number and password.

Announcing the launch of ITZ cash card, executive director, Intrex India Limited said, "Number of people having credit or debit card is limited in India due to stringent eligibility criterion but since this is available off the shelf, it can be easily obtained. Many of those who have credit or debit cards are sceptical in using credit cards for shopping online and micro payments due to the risk factor. However, ITZ Cash is well suited for online and micro payments being available in small denominations''.

Currently, the card will be made available though 2500 cellular pre-paid outlets in Mumbai. However, by the end of 2003, the company hopes to cover Gujarat, Delhi and six other states.

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