Essel Group-owned payments company ItzCash has tied up with RBL Bank to launch ‘Rupay Platinum Prepaid Card’, which offers prepaid payment services across both offline and online platforms. The prepaid card can be used for, online shopping, in-app payments, to make purchases in offline stores, pay bills, to withdraw cash at any ATM that accepts RuPay, gift and rewards purposes among others. Update: A spokesperson for ItzCash informed MediaNama that with the partnership with RBL Bank, it could issue an open prepaid wallet which can allow cash out from ATMs. The card can be used across ItzCash’s digital and physical network named ‘ItzCash World’, which has more than 75,000 franchisee retail outlets on it, across 3000+ Tier I and II cities and towns. Apart from this, ItzCash says that it has more than 10,000 online and offline merchants spread across more than 3,000 locations including cities, towns and rural India. Offline expansion The company says that the newly launched prepaid card is targeted at homemakers, small business communities and merchants, which suggests that this also aimed towards offline users; they will need not have a bank account to make transactions, and users can avail the Rupay card after completing a one-time registration. Note that in May 2015, it had tied up with the Manipur State Power Distribution Company to let customers recharge their prepaid electricity meters using ItzCash Point outlet and online portal. Prior to this tie-up, ItzCash had also partnered with BSES Delhi, Reliance Energy and Tata Power for payment solutions. ItzCash funding…
