ItzCash India’s leading digital payments facilitator is betting big on
the Indian entertainment industry. The company has inked strategic partnerships
with the country’s largest online
entertainment ticketing brand – BookMyShow and India’s first Live TV
platform – dittoTV.
ItzCash which forayed in the entertainment space nine years ago with
satellite cable / DTH recharge for Dish TV, currently garners 20% - 22% of its
business from the segment. With the country’s strongest offline network reach,
comprising of more than 75000 retail touch points and a dominant play in the
DTH & Cable TV segment the company is now vigorously eyeing the Movie
Bookings and Mobile TV sectors to drive incremental growth for the next two
fiscals.
BookMyShow has added a new Cash Top-Up feature to its ‘MyWallet’ to
make it even easier for everyone to transact on their app or website. This
tie-up will allow users to recharge their MyWallet by paying cash at the
nearest ItzCash World outlet. While in its partnership with dittoTV, the
company aims to capitalize on its offline network to offer revolutionary Rs. 20
easy-recharge for monthly subscription.
The company has been witnessing a consistent growth of approx. 40%
Y-o-Y in the entertainment sector and is now aiming to grow its current volume
for Rs. 3,000 Crore to over Rs. 5,000 crore by FY2018.
Commenting on the partnerships Mr. Bhavik Vasa - Chief Growth Officer,
ItzCash said, “India is fast becoming a Digital Country and will soon be the
world’s 2nd largest market with 650 million Internet users and 520 million
Smart phone users by 2020 as per a recent Google-BGC Digital Payments report.
Food and Entertainment sector tops the list of adoption and growth of digital
payments.
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.”
Marzdi Kalianiwala, Vice President - Business Intelligence and
Marketing, BookMyShow, said, “At BookMyShow, we believe in customizing 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.”
With a stark change in consumer preferences and a steady growth in
disposable incomes over the years, the spend on entertainment has continuously
been on the rise. And with India’s Pay-TV poised to grow to $12.3 billion by
2018, ItzCash is targeting an average growth of 42% in its overall revenues
through such new services for the Indian consumer.
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