You are here: Home » PTI Stories » National » News
Business Standard

Zeta launches prepaid card, targets over 1 mn customers

Press Trust of India  |  Mumbai 

Fintech company Zeta, part of Directi Group, today launched a prepaid card - Zeta Super Card - with a target of over a million customers in six months.

"Zeta has developed a more secure and convenient payments system that addresses the current loopholes in digital payments... We are targeting over a million consumers in the next six months for Zeta Super Card," Bhavin Turakhia, co- founder and CEO Zeta told PTI here.

"We have invested about USD 19 million in this venture so far, and will pump in another USD 25 million over the next two years," he added.

With the country's digital payments industry expected to touch USD 500 billion by 2020, he stressed it is essential that card payment systems offer completely secure methods to safeguard users from all possible threats.

He said demonetisation is a great push for transformation into a cashless economy, but warned that the threat of digital transactions falling prey to frauds and can be an impediment.

Turakhia said the product was slated for a December release, but in the wake of the demonetisation, they advanced the launch by a few weeks.

Zeta will operate on a commission model for revenues, and will work out other discounts, offers and partnerships to popularise the product going forward, he said.

Founded by Turakhia, and Ramki Gaddipati, Zeta has over 300 employees, in 9 Indian cities. It also has an employee benefit product called Optima.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 23 2016. 18:22 IST
RECOMMENDED FOR YOU