Source | Times Of India
COIMBATORE: OYO , a leading branded network of hotels, has announced a strategic partnership with ItzCash , one of the largest players in the digital payments space, to tap the next 500-million “underserved” Indian consumer segment.
The tie-up will facilitate effortless payments for bookings across 5,500 hotels in over 170 cities in India through ItzCash’s easy money transfer solutions.
With this partnership, ItzCash is going aggressive in hotel booking and aims at doubling its volume and clocking Rs 400 crore by 2017-18. ItzCash is backed by Lightspeed Ventures, which is also an investor in OYO.
The partnership will help OYO tap potential consumers who do not have access to either a debit or a credit card. ItzCash is already a dominant player in travel segment, and will offer access to OYO via an online co-branded portal as well as offline outlets.
Both partners also have existing synergies such as deep integration with state-run IRCTC. ItzCash offers travel booking service through its network of over 75,000 retail touch points across the country.
“The partnership with ItzCash will enable us to reach the large traveller-base that transacts through offline channels,” said Ritesh Agarwal, CEO & founder, OYO.