Digital payments company ItzCash has announced additional investment to scale up its POS terminal business. The company had introduced around 30,000 units immediately after the demonetization. Ravi Singh, chief business officer, ItzCash, said earlier many small merchants would discourage customers to use plastic money for payment. However, post demonetization, there has been a massive behavioural change in the mind set of traditional brick and mortar retail merchants towards digital payment movement. ItzCash facilitates payment, transaction and withdrawal of money at kirana stores with ItzCash POS machine. Around 1 lakh small merchants and shopkeepers will now be able to accept payments digitally, making it convenient for customers in semi-urban and rural areas. The device accepts payments from any cards such as credit, debit, prepaid cards and m-wallets. It also allows customers to dispense cash and select instant EMI options to pay their expenses. Merchants owning ItzCash POS terminal are also eligible to avail a pre-approved loan of Rs. 25,000 for working capital requirements. Singh said with this initiative, ItzCash is aiming to digitize 100,000 small merchants and shopkeepers by leveraging our robust network of 75,000 outlets present across 3000 cities and towns across India.
