How much of the online transactions in India are done through cash cards? Quite a bit, apparently. Around 7 percent (Rs.4 crore) of the total transactions every month month on the IRCTC (railways) website and 4-5 percent of the total transactions at Yatra.com take place using prepaid cash cards. Cash cards in use include ITZ Cash, Done Cash Cards and Icash Card. At the IAMAI e-Business Summit last month, Vishwas Patel, CEO of Avenues had mentioned KYC norms related to cash cards, so I’m wondering if anything is being done on that front.
Incidentally, I’ll be attending the IAMAI Digital Summit later this week, at the Maurya Sheraton in New Delhi. Do get in touch, if you’re attending - nikhil AT contentsutra DOT com.
Related:
- E-Business Summit: India Credit Card, KYC Norms And Supplier Issues
- Sucheta Dalal: E-wallets useful, but can be risky, too
- Sucheta Dalal: Regulation must keep pace with markets