Done Card Utility Limited, A subsidiary of OSS group has certified by Reserve Bank of India (RBI) to operate prepaid cash card under the brand Done Card.
Done card Utility Limited became the first company in India to get the license. The RBI has granted certificate of authorization to operate payment system for issuance and operations of prepaid cash card in India which implies all transactions through Done card are subject to RBI guidelines. RBI has created a new segment for prepaid cash card operations and amended its rules and regulations.
Explaining the concept of pre-paid card, Subhash Jewria, chairman and Managing Director said it features will be little different than the credit/debit card. A Done card users will have to fill up (KYC) form and his one time upper limit will be restricted to Rs 10,000.
With RBI approval, we will be concentrating heavily in rural market where people don't have access to credit/debit card services. The customer can easily buy Done card pre-paid cash card and can do various transactions which includes buying bus, rail, air tickets. It also facilitates paying utility bills and mobile recharge services online.
Highlighting about future growth plan, OSS Retails CEO Subhash Jewria quote "We intend to double the revenue to Rs 3,000 crore by 2011. Categorically, our business network will grow drastically from existing 50,000 business partners to 2 lakh in years to come. We plan to capture almost all the metro's of India through our wide network of agents and channel partners. We would like to reach out to remote villages and will provide services to the common man including farmers at best affordable rates. It will also generate employment opportunities in rural India and will foster customer lifestyle. We would like to reach out to ten lakh customers by next financial year ."
OSS group is an emerging market leader in e-commerce space since seven years. It is India's first single window operation, where the consumers can avail all services and products under one roof. The OSS group has 40 Offices across India and our stronghold distributors are located at Mumbai, Delhi, Chennai, Kolkata, Gujarat, MP and Rajasthan.
Source: Indiaprwire
Subscribe to this comment's feed
| < Prev | Next > |
|---|
- Integration of Nanotechnology Will Enhance Fuel Cells Market Potential
- Modular Infotech's Multilingual Braille Library Project for Visually Handicapped to be launched in Himachal Pradesh
- National Policy on Bio-fuels announced
- Provision of free quality drinking water at railway stations through commercial advertising
- Air Arabia increases service to Goa to meet holiday demand
- Popularisation of Khadi Products
