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Directi’s Bhavin Turakhia launches Zeta app to digitize meal vouchers

Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook. Directi's co-founder and chief executive officer Bhavin Turakhia and chief technology officer Ramki Gaddipati have launched Zeta Meal Vouchers, a mobile-based meal voucher platform for corporate employees. Through the Zeta app, employees can purchase food and non-alcoholic beverages from retail outlets. Employees will need to download the Zeta app which is available on Android, iOS and Windows phone. Human resource managers will be provided with a desktop interface that can be used to initiate transfer of meal vouchers to hundreds of employees at one go. Employees can then receive these meal vouchers on their smartphones and start using them instantly. So far, the company has tied up with over 100,000 merchant outlets which can accept Zeta Meal Vouchers. Its competitors, Sodexo and Ticket Restaurant, are accepted in 25,000 outlets across in 1,500 cities and towns and 18,000 outlets in over 3,000 cities in India. Ticket Restaurant has about 3,500 corporate customers using their vouchers while Sodexo has 10,000 corporate customers. So far, Zeta Meal Vouchers are being used in four corporate clients. Turakhia told MediaNama that Zeta Meal Vouchers charges merchants a commission of 1-2% of the purchase. He also mentioned that Sodexo and Ticket Restaurant charges a commission of 4-7%. Turakhia also mentioned that Zeta operates as a wallet and has tied up with RBL Bank to ensure that they have got the requisite licenses from the Reserve Bank of India. The company…

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