Following a strategic investment in May 2017, EbixCash is now a part of US-based and NASDAQ listed company Ebix Inc, a leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries.
Established in 2006, EbixCash initiated the concept of ‘digital cash’ to the Indian consumer and various business entities, heralding the beginning towards enabling a less-cash transacting society. The company currently process approximately 600,000 transactions per day, about $2 Billion in annual payment volume and issued more than 110 million accounts to date, with an industry leading transaction success rate of 99%.
With 75,000+ physical retail outlets, the three MTSS (Money Transfer Service Scheme) business acquisitions in 2017 increase the distribution reach substantially to over 114,000 outlets across the country and give the company a direct access to 60 percent market share, making it the largest international remittance player in India. EbixCash is already the largest domestic remittance exchange in India with domestic remittance volume of approximately $100 million per month.
Robin Raina is the Chairman of the board, President and CEO of Ebix Inc. and is ably supported by a strong leadership team of EbixCash, headed by Bhavik Vasa - Chief Growth Officer and Ravi Singh - Chief Business Officer, who have been driving the overall strategic direction and the company’s next phase of growth in India
EbixCash is committed to an additional growth fund to expand operations and also fuel its growth inorganically through a number of strategic acquisitions. The company in towards its vision is on the path of converging the payment solutions, insurance, lending, domestic and international remittances, travel and other related channels into a single platform as the enterprise financial exchange. In addition, it constantly invests in upgrading technology towards creating world‐class Omni-channel payments platforms for the emerging India.
A patriotic Indian and philanthropist who is today deploying Asia’s largest private charity initiative to build 6,000 homes free of cost for Delhi slum dwellers, Robin has been a director at Ebix since 2000 and Chairman of the Board at Ebix since May 2002. Mr. Raina joined Ebix in October 1997 as Vice President-Professional Services and was promoted to Senior Vice President-Sales and Marketing in February 1998. Mr. Raina was promoted to Executive Vice President, Chief Operating Officer in December 1998. Mr. Raina was appointed President effective August 2, 1999, Chief Executive Officer effective September 23, 1999 and Chairman in May 2002. Robin has overseen the growth of Ebix as a public listed company on the NASDAQ from $12 million in 1999 to $2 Billion approximately market capitalization now, Mr. Raina holds an industrial engineering degree from Thapar University in Punjab, India. Robin runs many schools for the underprivileged children in India, providing education, clothing, and medical care to thousands of kids at any time.
Mr. Raina’s strategic & operational direction for Ebix and implementation of such direction has proven instrumental for Ebix’s turnaround and growth. He has extensive background and experience in conceptualizing, launching and deploying some of the world’s largest exchanges in the field of insurance, reinsurance, finance and healthcare. Robin has a deep understanding of corporate finance and the Indian markets having deployed 11 offices and more than 2,000 employees in India besides serving consumers, banks, insurance companies, brokers, corporates and various Indian Government organizations, as clients of Ebix.
Mr. Ashok Kumar Goel, age 49 years, has been associated with the Company since incorporation as a Director. Mr. Goel is the Vice Chairman and Managing Director of Essel Propack Ltd. He is an experienced businessman who also guides the management of the Essel Group's existing leisure properties, viz. EsselWorld and Water Kingdom.
He has led the turnaround of an engineering tools company in the Essel Group and has achieved manufacturing efficiencies. In July 2005, the renowned publication The 'Smart Manager", after in-depth research spread over three years, rated Shri. Ashok Kumar Goel as "one of the 25 truly world class managers from India".
Shri. Goel is on the Boards of various organizations including Solid Containers Ltd, East India Company (Trading) Private Ltd, ITX Trading And Financial Services Private Limited, EbixCash Payment Solutions Limited, Essel Propack Limited, Indian Association Of Amusement Parks And Industries.
Ravi Singh is Chief Business Officer and heads the retail and product team at EbixCash. Since joining EbixCash in 2012, Ravi has bolstered a leadership position for EbixCash in its new business initiatives in Remittance & Prepaid Cards. As Chief Business Officer and Head of Payments, he is responsible for the strategy & execution of retail payments businesses: building partnerships and broader business relationships.
Over two decades, Mr. Singh held senior leadership positions in reputed organisations namely Western Union, Tata Teleservices Limited, Birla 3M Ltd, Hutchison Max Telecom Ltd and Real Value Appliances. His last assignment prior to joining the company was at Western Union as Head of Operations.
An alumnus of Mangalore University,Mr. Singh is Six Sigma & Project Management Professional (PMP) certified.
Mr. Satya Bushan Kotru is professionally graduated in computer science & engineering and is qualified in Administration roles with a total work experience of 22 years.
Since last 15 years, Mr. Satya is working with Ebix Software India Private Limited and is Admin Head of Indian operations of Ebix. Prior to Ebix, Mr. Satya has worked with multiple MNC’s for a period of 7 Years.
Mr. Vikas is professionally qualified in Finance with a total work experience of 17 years with considerable expertise in the areas of Financial Planning & Analysis, General Accounting, Legal, Tax & Regulatory compliances, Mergers & Acquisitions, Running Global Teams in Finance Functions serving multiple Jurisdictions.
Since last 15 years, Mr. Vikas is working with Ebix Software India Private Limited and has held various senior and strategic roles within Global Finance Function. Prior to Ebix, Mr. Vikas has worked with Word Bank, New Delhi for two years.
Mr. M. M. Chitale, a fellow member of the Institute of the Chartered Accountants of India is a renowned professional having standing of more than 35 years and is a partner of Mukund. M. Chitale and Co., an ISO 9001-2000 certified firm. The said firm provides services in the area of auditing, tax consultancy and management consultancy to various banking, insurance and manufacturing firms.
Mr. Chitale holds directorship in many renowned Companies viz.Larsen and Toubro Limited, ONGC Mangalore Petrochemicals Ltd, L&T General Insurance Company Limited. Mr. Chitale has been associated as the Chairman of the Governing Council of Banking Codes and Standards Board of India. He is also the Chairman of Ethics Committee of Stock Exchange, Mumbai. He is a member of the Advisory Board on Bank, Commercial and Financial Frauds, of the group for Amalgamation of Urban Co-operative Banks and also of the Supervision of NABARD..
In the past, Mr. Chitale has also served on boards of ONGC, IDBI Bank Ltd, LIC Housing Finance Ltd, SBI Mutual Funds Trustee Co. Pvt. Ltd, etc. Mr. Chitale has held various positions in professional bodies such as President of The Institute of Chartered Accountants of India in the year 1997-98 and member of The International Auditing Practices Committee of The International Federation of Accountants from January 1998 to June 2000..
In addition, Mr. Chitale has served in various committees such as member of The Committee for Collective Investment Schemes appointed by SEBI (Dr. S.A. Dave Committee), member of Working Group on Restructuring of Weak Public Sector Banks appointed by RBI (Verma Committee),and member of Committee on Procedures and Performance Audit of Public Services appointed by RBI (Dr. Tarapore Committee)..
Mr. Chitale, an avid reader was associated with the M.M. Kundnani College of Commerce and Economics and Sydenham College of Commerce and Economics as part time faculty. He has presented papers on subjects such as accounting, auditing, Corporate Governance, banking and quality controls at various seminars and conferences held at national and international levels..
Mr. Pavan Bhalla is currently the Executive Vice President - Global Service Operations for Aon Hewitt. He has held this position since March 2015. Previously and since September 2011, Mr. Bhalla was Executive Vice President and India Managing Director at Aon Hewitt. Prior to this role, he was the Executive Vice President, Chief Financial Officer and Treasurer of Harris Interactive Inc., a position he held since October 2010. Prior to that, Mr. Bhalla served as Vice President for Hewitt Associates, and had been in this role since August 2006. Prior to his recent roles at Hewitt Associates and Harris Interactive, Mr. Bhalla served as the Senior Vice President-Finance of MCI Inc., a global telecommunications company, and supervised the financial management of MCI’s domestic business units. Prior to joining MCI in August 2003, Mr. Bhalla spent more than seven years with BellSouth Corporation, a telecommunications company, serving in a variety of executive positions, including Chief Financial Officer of BellSouth Long Distance from 1999 to 2002 and Corporate Controller of BellSouth Cellular Corp. from 1997 to 1999. He also serves on the Board of Ebix, Inc. as an Independent Board member since 2004. Mr. Bhalla holds a master’s degree in business administration from the University of Chicago’s Booth School of Business.
Areas of Relevant Experience: Mr. Bhalla has extensive hands-on relevant experience in corporate finance and international business transactions. His extensive accounting and financial background qualifies him as an audit committee financial expert under applicable SEC and the NASDAQ Stock Market Marketplace Rules (the “NASDAQ Marketplace Rules”).
Bhavik Vasa as Chief Growth officer at EbixCash, leads the charge as Business head alongside Product, Alliances, Marketing & Comms functions. He is a Business leader with over a decade of global experience across Digital Commerce, mobile technologies, financial platforms. At EbixCash, India’s leading payments FinTech, Bhavik has been instrumental for new business roll-outs of Incentives solutions, Prepaid card & Mobile wallet programs. Prior to EbixCash, Bhavik led the expansion and setup of Global Prepaid Exchange (UK) presence across the India & South Asia. Entrepreneurial at heart, Bhavik has been a founding member at Radical Payments and ISTS Worldwide – US based bespoke technology solutions ventures across financial services, retail and mobile payments. Bhavik earned his Bachelors degree with honors in International Business & Management from Northwood University, Florida and has executive training in Entrepreneurship from Stanford University.
Ravi Singh is Chief Business Officer and heads the retail and product team at EbixCash. Since joining EbixCash in 2012, Ravi has bolstered a leadership position for EbixCash in its new business initiatives in Remittance & Prepaid Cards. As Chief Business Officer and Head of Payments, he is responsible for the strategy & execution of retail payments businesses: building partnerships and broader business relationships. Over two decades, Mr. Singh held senior leadership positions in reputed organisations namely Western Union, Tata Teleservices Limited, Birla 3M Ltd, Hutchison Max Telecom Ltd and Real Value Appliances. His last assignment prior to joining the company was at Western Union as Head of Operations. An alumnus of Mangalore University,Mr. Singh is Six Sigma & Project Management Professional (PMP) certified.
15 Sep 2017
EbixCash’s parent firm Ebix Inc has been recognised fastest growing company globally by Fortune Leading international supplier of On-Demand software and E-commerce services to
22 Aug 2017
EbixCash parent Ebix to buy YouFirst Money In its second acquisition in the remittance space in India within a week, US-based software services firm and EbixCash parent Ebix Inc has
18 Aug 2017
EbixCash Parent Ebix To Buy Wall Street Finance Arm For $7.4 Million U.S.-based software services firm Ebix Inc entered into an agreement to acquire Wall Street Finance’s money transfer
23 June 2017
EbixCash enables Bharat QR on its PoS terminals EbixCash, a leading fin-tech company, has rolled out ‘Bharat QR code’ feature across its retail network. With this, users can scan and
25 May 2017
US Based Ebix Invests $123 Mn In EbixCash, Acquires 80% Stake; Matrix, Lightspeed, Intel Exit US-headquartered Ebix Inc., has invested $123 Mn (INR 800 Cr) in Mumbai-based payments
25 May 2017
EbixCash raises Rs 800 crore, gives exits to Matrix, Intel Capital, Lightspeed. Mumbai-based fintech company EbixCash has raised Rs 800 crore from US-based Ebix Inc, a global insurance SaaS
12 May 2017
EbixCash and Kings XI Punjab Drive Epilepsy Awareness The current IPL squad of Kings XI Punjab has joined hands with EbixCash, India’s leading digital payments fintech to drive
02 May 2017
EbixCash Turns a Page with Profits, Revenue Jumps 40% to Rs 250 crore Payments company EbixCash turned profitable in 2016-17, according to managing director Naveen Surya. The
28 April 2017
EbixCash partners with Prabhu Money Transfer India for remittance to Nepal Domestic remittance and digital payments company EbixCash has ventured into cross-border remittances
20 April 2017
EbixCash voted amongst the most trusted BFSI brand in India 1st Top Trusted brand in ‘Prepaid services’; ranked among top 30 in overall BFSI category, as per Brand Trust Report by TRA
04 Apr 2017
EbixCash associates with Kings XI Punjab as its Official Principal Sponsor and Payments Partner EbixCash, India’s largest digital payment firm and a pioneer in prepaid card industry, today,
03 April 2017
EbixCash to deploy more point of sales terminals for larger digital acceptance network Digital payments company EbixCash is planning to scale up its Point of Sales terminals in order to
03 March 2017
Interview – Connecting the unconnected – Naveen Surya, MD of EbixCash Since its inception, EbixCash has been building a bridge for the 90 per cent cash-driven India. Naveen Surya, MD
27 Feb 2017
EbixCash that Finly will get for keeping corporate books Digital payment company EbixCash has made an equity investment in Bengaluru- based fintech startup Finly.io, which has developed
20 Feb 2017
Pre-paid cards innovate fast after demonetisation The push towards a cashless society is seeing new developments in pre-paid cards. And these cards are being used for a much wider
02 Feb 2017
Our country is on a journey to becoming a digital superpower and, over a period of time, we all have realized that this vision of Digital India cannot be complete without digitizing cash-use
01 Feb 2017
Carbon credit-like system can curb cash usage Cash is an expensive cost to India’s economy. A recent report concluded that India spends about Rs 21,000 crore annually in currency
13 Jan 2017
Labour gain Kris Lakshmikanth, CEO of the recruitment firm Headhunters India, was recently at Indian Institute of Management Ranchi to give a lecture. He had lunch at the
06 Jan 2017
Despite the government’s push for digital payments after demonetisation sucked 86 percent of currency in circulation out of the economy, data for the last two months may not
04 Jan 2017
In the mid-2000s, Internet penetration had just begun in the lower sections of society and mobile adoption was increasing. But, when it came to payments or any kind of financial
15 Dec 2016
Rupay card usage via PoS machines triples in Nov Rupay cards have seen a surge both in terms of value and the number of transactions in November, according to data compiled by the
12 Dec 2016
Digital payment firms happy with Centres push The digital push by government through incentives and demonetization has come as a booster to the financial technology companies or
03 Dec 2016
EbixCash ties up with 100 cos for pre-paid cards Digital payments facilitator EbixCash has signed up with 100 small- and large-sized companies to offer pre-loaded salary cards for their
03 Dec 2016
Volumes cross $2 billion; 40percent uptick in transactions after demonitsation. The country’s largest pre-paid player,EbixCash– part of the $2.4 billion Essel group – may well be the first in the
02 Dec 2016
Paytm, EbixCash, RazorPay and PayU making most of this unexpected business opportunity It has been an extremely busy period for the fintech industry right from the night of
01 Dec 2016
EbixCash comes to aid of foreign tourists with prepaid cards Digital payments company EbixCash has extended the use of its prepaid cards to foreign tourists travelling to India to manage
30 Nov 2016
Business Today.in , November 29, 2016 Digitization is the next step after demonetization. Technology firms and start-ups are coming together to offer the best e-wallet to customers for
28 Nov 2016
The Economic Times , November 27, 2016 Demonetisation: Why the challenge to take digital payment to rural India is as huge as the opportunity Dhaturi, a dusty village in Haryana
25 Nov 2016
The Economic Times , November 23, 2016 There has been a sudden demand for e-payment forums: Naveen Surya, Payments Council of India ET Now: Different digital players we
25 Nov 2016
The Economic Times (Page No. 22), November 25, 2016 Smart Money In the two weeks since the government announced its demonetization initiative, India’s internet commerce industry
25 Nov 2016
Livemint.com , November 24, 2016 Maximum e-wallet transactions in 25-35 age group: data E-wallets such as EbixCash and Oxigen are being used by people to buy groceries, pay
23 Nov 2016
Livemint, November 23, 2016 No transaction charges on debit card payments till 31 Dec: Govt The government on Wednesday asked banks to waive the merchant discount rate
15 Nov 2016
Investopedia.com, November 15, 2016 As almost 86% of India’s currency circulation turned into worthless paper after November 8, 2016, mobile wallets and fintech companies
11 Nov 2016
CIO.in, Mumbai, November 11, 2016 Demonetization triggers spurt in digital payments; drives India towards cashless economy. The demonetization move that initially paralyzed the
09 Nov 2016
The Banking and Finance Post, November 9, 2016 India is on the verge of becoming a digital nation and we are ensuring the same by converting cash into digital money both at the rural
08 Nov 2016
Firstpost, Mumbai, November 8, 2016 Industry overwhelmingly welcomed the government’s move to ban Rs 500 and Rs 1,000 rupee notes. Stalwarts of the industry are optimistic that this
06 Nov 2016
Business Today.in , November 6, 2016 PM Narendra Modi’s regime is squeezing the avenues for generation and circulation of black money, but more reforms are needed to speed things
01 Nov 2016
Zeenews.India.com , November 1, 2016 The manner of giving is worth more than the gift Which is the best gift one can imagine to receive? As aptly phrased, ‘the manner of giving is worth
30 Oct 2016
The Hindu Business Line, Mumbai, October 30, 2016 For more and more Indians, ‘cashless’ is king The Center’s initiative to move from a cash-driven economy to a cashless one so as to
28 Oct 2016
The Hindu Business Line, October 28, 2016 As corporate gifting goes digital, EbixCash, Zeta want big bite of the market Corporate gifting has been part of employee rewards and
24 Oct 2016
Voicendata.com, October 24, 2016 India set to go cashless – thanks to UPI, Aadhar An astounding 233 million Indians do not have any type of access to a bank. It is a fairly bleak
23 Oct 2016
Business Standard, October 23, 2016 You received a gift card worth Rs 5,000 for Diwali last year, but could spend only Rs 4,500 because the brand was not to your liking. The card is no
19 Oct 2016
Times of India, Chennai, October 19, 2016 EbixCash, a leading player in the digital payments space, is eyeing Rs 55 crore-Rs 60 crore in revenues from its ‘corporate gifting’ segment during
13 Oct 2016
DNA, Mumbai, October 13, 2016 A bountiful monsoon coupled with overall positive market sentiment is set to drive demand for gifting products across business houses and MNCs this
29 Sep 2016
Business Standard, Mumbai , September 29, 2016 “The reality of payments firms is, we are relevant to urban and rural” “The digitally-savvy Indian uses physical cash for 30-40 per cent of
19 Sep 2016
The Economic Times, Mumbai, September 19, 2016 Financial technology companies, banks, peer-to-peer (P2P) lending platforms and insurance companies are coming together to
15 Sep 2016
ET Tech, September 15, 2016 Digital payment startup EbixCash said it has entered into a strategic partnership with Visa, making it the only non-bank institution in the country to get a
26 Aug 2016
VCCircle, Mumbai, August 26, 2016 Mr. Naveen Surya’s interaction with VC Circle Mumbai-based digital payments facilitator EbixCash is in talks with several mobile application
22 Aug 2016
ET Tech, August 22, 2016 The exclusive Indian club of unicorns, a term used to refer startups valued at more than $1 billion, is likely to expand to include several more companies from
17 Nov 2015
Budget your savings: It’s very important to be strict with yourself when it comes to preparing a personalized budget. Budget your savings weekly and monitor it. For instance, you
25 Aug 2015
The world that we are living in has become so convenient that we practically have everything on our fingertips. If that is the case then why should paying our bills still demand us to
24 Aug 2015
The internet is now flooded with several wallets wanting to get your moolah. While these are easy and convenient ways for getting your funds sorted in the internet space there are
23 Aug 2015
The internet age is speeding at a rate that one cannot even comprehend. The new kid on the block is the “app”, short for application. Pick your favorite website and it already has an
12 Aug 2015
Imagine if the bread earner is out in another place. Traditionally you would have to wait for a particular date in a month and follow some ridiculously long procedures to receive
11 Aug 2015
EbixCash is the future of payments. You can say, that it can magically clear all your bills in a single tap. Gone are the days when you would have to wait in the long line to pay off your
05 Aug 2015
Saving cash has started becoming a thing of the past because of credit facilities that are easily available to all individuals. So the mentality of ‘spend today, pay tomorrow’ is gaining
15 Apr 2013
ItzGift is geared to revolutionise gifting in India with innovative offerings across gift cards that can be accessed easily by consumers and corporates alike. This includes Shoppers’ Stop
15 Apr 2013
An exclusive B2C card brought to you in association with Dish TV. Specially designed to provide you with many tele-viewing offers. Safe....
15 Apr 2013
Available in various denominations, the Choice Gift card can be purchased online. The Choice Gift card gets delivered to your doorstep and you can make use of the money on the card to
15 Apr 2013
This card is your one-stop solution for Corporate Gifting, Sales Incentive and Employee Rewards and Recognition programs. It brings you innovative offerings across a complete range of gift
Mr. Devesh Pandya , CFO ItzCash Card Ltd was conferred an award on 14th March , 2014 by CFO100 . The CFO 100 is an annual initiative to recognise India’s finance leader’s extraordinary contributions to the corporate world.
HT Hot Brands a recognition program that honours the top brands with their Indian/global headquarters in the Mumbai area, nominated EbixCash as one of the ” Top 50 Brand Of Mumbai”.
The Mumbai Brand Summit is the third edition in the Brand Summit series held by Paul Writer. It builds upon the success of Bangalore Brand Summit & Awards and Delhi NCR Brand Summit & Awards. Speakers have included CMOs & CEOs from organisations such as Renault, Pinstorm, LinkedIn, British Airway, GSK Healthcare, Nike, Hewlett-Packard, Nilgiris, Wipro, and many more.
The Hot 50 brands was recognised during the Mumbai Brand Summit and Awards, presented by Hindustan Times which took place at Palladium Hotel, Mumbai .
Indian consumers have voted ItzCash Card Ltd amongst the most trusted Banking Financial Services Brand. EbixCash ranked 19th amongst the 52 BFSI Brands , 1st under the sub category “ Prepaid Services “ covered in this study and 484th amongst 1200 brands in India .
This announcement made in ‘Brand Trust Report 2014′ by Trust Research Advisory, reflects the commitment levels of EbixCash Card to provide quality products to the consumers. The report acknowledges Brands that the consumers put on the highest pedestal of trust based on their conviction that the brands provide unmatched quality products.
With highest levels of innovation backed by breathtaking style and design and unparalleled performance, ItzCash Card Ltd has been successful in winning the hearts of consumers year after year.
About Trust Research Advisory:
Trust Research Advisory (TRA), a part of the Comniscient Group, is a company dedicated to understanding and simplifying concepts related to Trust. TRA was conceived in 2008 to decipher, analyze and measure Brand Trust, to make it universally understood and easily applied. Apart from The Brand Trust Report, TRA also publishes India’s Most Attractive Brands, a study based on TRA’s proprietary Attractiveness Quotient Matrix. Committed to create metrics for better resource allocation for brands, TRA owns the global copyrights to Brand Trust and Attractiveness Quotient Matrices.
About The Brand Trust Report, India Study – 2014:
The Brand Trust Report, India Study, 2014 (ISBN:978-81-920823-6-3), the fourth in the series, is the result of a primary research based on the proprietary 61-component Trust Matrix. This year’s research was conducted among 2,500 consumer-influencers across 16 cities, and generated nearly 5 million datapoints and 20,000 brands, making it the most intensive study on Brand Trust across the globe.
EbixCash wins the Most Innovative Product for Emerging Countries Award under the category “NFC and Mobile Card Readers” at the Knowledgefaber Awards for Excellence in Payment Method and Technologies 2013.
ItzCash Card Ltd. bags an award for the EbixCash Power to Pay Tag program in the ‘Best Non-U.S.-Based Program’ at the 7th Annual PayBefore Awards.
Mr Ashok Goel receives the SKOCH Challenger Awards for Technological Innovation at the 2013 SKOCH Awards
ItzCash Card Ltd. bags the prestigious Skoch Financial Inclusion Award 2013 for Freedom Prepaid Card in the Payment category.