ItzCash eyes a top-line of 60 Crore from corporate gifting this festive season

With Digital Gifts trending this festive season; the company aims to drive market leadership with a 100% Y-o-Y growth

Mumbai, 19 October 2016: ItzCash, India’s pioneer and the leading digital payments space, shared a bullish forecast as it eye’s a top-line of INR 550 - 600+ million this festive season from its ‘corporate gifting’ segment. The company is all set to hit north of INR 3500 million for the current fiscal year 16 – 17, clocking a 100% Y-o-Y growth as compared to the last fiscal.

The most happening festive season of the country is just round the corner ushering in a celebration of lights sweets and gifts. However the gifting landscape of the country has undergone a radical metamorphosis weaving in immense convenience within the system and corporate gifting has been no exception.

ItzCash has been leading the  ‘corporate gift & incentives solutions’ space already serving more than 2000 clients pan-India annually. Nearly a quarter of its business comes the month leading up to the Diwali Festive season alone!

Commenting on the occasion, Mr. Bhavik Vasa – Chief Growth Officer, ItzCash said, “This year has been particularly buoyant with the bountiful monsoons and the positive market sentiments which is all set to realign the gifting landscape in the corporate world. Customized Digital Gift cards is the flavor of this season with a 2x growth we are all geared up to make the maximum of the bait and are already witnessing a seamless uptake across all industry sectors and leading corporate houses.”

Moving from paper gift vouchers, to plastic gift cards, now the digital format of gift recharges and gift cards is the newest trend. The gift cards industry has been recently picking up significant momentum, and has witnessed a growth of more than 300% over the last year alone. Digital gift is poised to lead this overall growth, which is estimated to cross INR 10,000 crore by FY20.