FOR IMMEDIATE RELEASE
ANN ARBOR (MI), US (April 9th, 2015) - Indian Ecommerce industry is at a very nascent stage. According to Gartner Inc, it will reach $6 billion in 2015 a 70 percent increase over 2014 revenue of $3.5 billion. Even with this steep increase it will not even touch 5% of its potential.
The biggest issues seems to be penetration of credit, debit cards in India. This is more of a social issue than a financial one.
Vista Money has been at the forefront of the financial inclusion and has established a network for cash based digital voucher system that enables payment of bills across both government and private bill payers. This helps with the social issue of cash acceptance, when traditional banking tools are not available or viable. Economy starts to adopt these tools in an incremental way enabling an easier acceptance of traditional methods. With increasing demand from its customers, it has now provisioned it 125,000 current locations to enable digital ecommerce. It is projected to grow its locations to 250,000 by the 3rd Quarter of 2015 and double that by next year.
“Our technology was built to solve the problem of financial inclusion and making goods and service available to people with all walks of life not just a special few.” says Vineet Katial, Chairman and CEO Vista Money.
This financial inclusion platform enables the both rural and urban population to maximize the benefits of ecommerce, which has eluded more that 80% of the Indian population. Enablement of the masses is the only way to make an emerging market come out of its stagnation.
Sagainathan, CEO Vista Money’s India operation say’s that “this enablement of businesses to perform transactions for the middle class helps grow India’s economy and not very surprised at this exponential growth in uptake of our networks.”
About Vista Money
Vista Money is innovative platform provider that enables its clients to offer international payment solutions to merchants and corporations. In addition, Vista Money is a global provider of prepaid debit card programs. Its focus on global payments and on emerging markets makes it a unique provider in this business. Vista Money provides software that acquires and loads funds and digitizes cash to enable ecommerce in emerging markets.
Vista Money has developed innovative services for clients looking to move towards 'next generation' payment methods that include chip and PIN, internet, data mining as well as mobile SMS load and remittance technologies. Vista Money issues physical and virtual prepaid cards and SMS solutions through established networks and partnerships in areas such as payroll, gift, student, remittance and travel.
Vista Money cards can be used worldwide at over 28 million locations and at 1.5 million+ ATMs, giving safe secure access to money around the clock. Vista Money is able to service, manage and deliver timely, scalable, unique card and SMS solutions globally from total solutions to single-issue requirements. For more information, please visit http://www.vistamoney.com/