Recent Brand Stories
One afternoon, Abidah Shaikh walks into a money transfer shop that is wedged between pharmacies and grocers on a commercial street in Bhindi Bazar. She picks up the equivalent of 600 UAE Dirhams sent by her husband working as a personal support worker in Abu Dhabi. The amount is slightly hefty considering Ramadan is in the offing. Carrying her 10-month-old daughter in her arms, she says, 'I have nothing but my two kids and this money helps us eat and send our children to school.' Families are very important to Indian expatriates across the globe and the desire to be with them become even more pronounced during festive events. However, for those who are not able to travel back home, the occasion times perfect for sending money to their relatives and friends. India hosting the world's third-largest Muslim population witnesses a typical surge in remittances especially during the month of Ramadan. Again, India being a 'receive-only' country, the transaction is highly influenced by how close the recipient finds the access point. With more than 80 percent market share in International & Domestic remittance industry, EbixCash has established the largest Money Transfer provider in India. Over the last 10 years, the company has earned its customers' dependability and trustworthiness by respectfully handling their hard earned money through a robust network of 260,000 physical touch points across 5000+ cities, towns and villages. This deeply entrenched platform consists of neighbourhood stores like Kirana shop, medical store, mobile recharge shop, etc. enables millions of expats' families & loved ones to have an easy and convenient access to money when in need. The holy month of Ramadan, one of the most important occasions for Muslims around the world, presents us with an opportunity to reach out to more and more people and service them better. To partake in their celebration, EbixCash organises iftar parties for its agents, distributes sharbats and food packets to the local people who keep fast, visits a various orphanage and old-age homes, and donate clothes to them. As per the latest World Bank report, India continues to receive a major chunk of the inward remittance from the countries such as the Gulf, followed by the US and Canada. The cost of transferring money varies greatly from country to country, basis the method of transfer. But migrants are not interested only in transfer costs. They are also interested in the risk they carry. And when it comes to money handling, it is all about the trust factor. Having voted amongst the most trusted BFSI brands for two consecutive years, EbixCash clearly reflects its commitment towards providing safe, secure and trusted money transfer solutions to the customers. Festivities and culture are the strongest aspects that connect Indian expats to their homeland. Recompensing for their absence back home during such occasions, migrants living abroad play their part by sending money to their families. Strengthening the formal remittance infrastructure by offering the advantages of low cost, expanded reach, and a trust-worthy network can bring smiles on the faces of many migrants' families whose lives depend on income from abroad to fulfil their basic needs. (EbixCash is the largest authorised Money Transfer partner for Western Union, Moneygram, Xpress Money and Ria)
This Akshay Tritiya, Gold Coins and Gold Savings Scheme with EbixCash Indians adore gold more than the people of any other country. An emotional, sentimental and religious purchase, the demand for physical gold never dies in India which explains why the country is by far the world's largest importer, accounting for one-fifth of the global retail consumption. With Akshaya Tritiya round the corner, buying gold gets a 'holy' backing as the day considered auspicious for many Indians. When it comes to buying the yellow metal, India is home to specialised gold markets in nearly all cities. In Mumbai, Zaveri Bazaar is the oldest and largest gold market. In Delhi, Karol Bagh and South Extension have many gold jewellers while in Chennai, one needs to head to the gold stores in T. Nagar. And who can ignore Kerala, when it comes to gold, rural Kerala's per capita spending on gold ornaments is far ahead of the total per capita spending of all six top states. So, how would you feel if one tells you that instead of going to one of these select markets, this Akshaya Tritiya, you could buy your annual quota of gold by simply walking into your friendly Kirana store! What's more, this comes with the flexibility of either paying in full or through an EMI spread over 3 to9 months. Also, customers have the convenience of physical gold being delivered at the end of the tenure right at their doorstep. With the compelling blend of the benefits of traditional brick and mortar stores and the regular digital commerce, EbixCash in association with Augmont India has launched a facility to buy the best quality 24Kt (999) Gold coins through its 'Phygital network' of more than 231,500 retail touch points across 5,500 cities, towns and villages across the country. All that the buyer has to do is walk into the nearest EbixCash's retail stores, choose the product, make a 20 percent down payment and pay the rest in an EMI each month. Furthermore, they even have the option of cancelling the order during the EMI period! Augmont is India's biggest and most trusted B2B Bullion supplier, offering top quality gold from their own BIS Accredited Refineries with a purity of 999 (24 karats). While the buyers can currently choose from a variety of gold coins, the platform aims to include jewellery items such as pendants, bracelets, chains and earrings in the near future. Gold purchases are not an exclusive preserve of the rich, which also explains why the GST rate on the metal was fixed at just 3% and not 18%. What's more interesting is that while India remains the second biggest consumer of gold, rural India alone accounts for about 60% of annual gold consumption. However, with just one-third of Indians owning bank accounts, India is conspicuously under-banked. For the areas still not sufficiently penetrated by the banking system in the country, gold still provides a lot of financial security to rural people as it can be mortgaged for receiving immediate liquidity during a contingency. Powered with multi-category merchants, a technology platform and a robust distribution network, EbixCash offers a range of digital payments and investment solutions, and the company's association with Augmont India is its latest offering on their 'Phygital' network. The facility thus allows individuals to buy gold for their future aspirations. The platform serves a great advantage for individuals who find it difficult to save a large amount for making spot purchases encouraging a disciplined practice under which one can buy gold in grams by making small and regular payments. But when it comes to buying gold, it is all about trusting your seller. The immense goodwill built over the years that your neighbourhood Kirana store brings on-board coupled with the ease of buying gold from your nearest outlet in affordable quantities through EMIs is a breakthrough initiative by EbixCash for the middle and lower middle India. In a country, where a legal license is not mandatory, the authenticity of the gold available in the open market is threatened. Some of the biggest scams have happened in the retail gold market with just 13,000 BIS (Bureau of Indian Standards) licensed jewellers in India. Thus buying a Hallmarked Gold Coin from Augmont comes with the underlined emphasis on purity, quantity and authenticity of the purchase. The idea is to make gold relevant to the country's last mile. The platform presents a strong case of empowering every Indian helping him transition towards a more secure future steadily but in stages with due consideration to his convenience and affordability. What the metros achieved in the last few years, mass middle India will achieve in the coming decade. The India story and the demand revolution will live on!
Your small business or large enterprise can gain efficiencies across processes and digitization of employee travel, incentives, and wellness Is corporate travel bookings and reimbursements cumbersome and exhausting you? Similarly, for the HR and Admin departments, it can be actually a nightmare, involving a whole host of issues such as difficulty in enforcing compliance, complex accounting, and dealing with excess spending. Add to the fact that both the departments tend to get lost in a maze of paperwork and rely on multiple vendors for various services. This fragmentation leads to a lack of synergy in execution, which negatively impacts the entire employee morale spectrum. Digitization is enabling corporates to go paperless and cashless with new-age tech solutions like EbixCash. A part of the Nasdaq listed Ebix group, it delivers a Full Stack Corporate Solutions suite that is designed to integrate all aspects of planning, implementation, and execution of corporate payments. This comprehensive suite utilizes a holistic approach that claims to cut down on administrative workload and simplify processes for employee well-being and engagement. The corporate stack comprises EbixCash Fintech Solution, Via.com Corporate Travel Platform, MICE and Employee Wellness Programs aims to clear much of the roadblocks faced by enterprises. Recently, Reserve Bank of India also mandated digitization of paper voucher alongside the government's Digital India vision. EbixCash Prepaid cards & wallet offer a range of employee benefits products like Gift Card, Reward Card, Meal Card, Expense Management and R&R Incentive Solutions. Designed to deliver maximum benefit to the employees and have been proven to increase overall performance and morale. Overall the gifting category in India is estimated to be at US $40 bn. It is broadly split into four broad categories - festival gifting, occasion-based gifting, personalized gifting and corporate gifting. Additionally, global spending on business travel is picking up pace this year after experiencing a lull in 2016-17, according to the latest report by the Global Business Travel Association. The report forecasts the business travel spend around the world to reach USD 1.7 trillion by 2021. Via Corporate Travel Booking Platform a powerful, technology-driven travel booking platform that allows for fast, easy and cost-effective corporate travel management. Businesses can access exclusive savings and special features on the flight, hotel and holiday booking through this platform along with multi-currency cards, Forex and travel insurance for the employees travelling abroad. The Via.com MICE platform can also be used to organize events, annual meets and incentive tours. Globally, the Meeting Incentives Conferences and Events industry amounts to USD 280 bn. The Asian MICE industry contributes USD 60 bn, with Indian MICE industry accounting for USD 1.3 bn. As calculated by MasterCard, this segment is forecast to grow at a CAGR of 8.6% in 2020. Further offering Employee Wellness Programs - AskADoctor24x7, helps companies to ensure a healthy and motivated workforce via instant access to leading health experts and health monitoring tools. With a bullish outlook, Robin Raina, President, Chairman and CEO, Ebix, was recently quoted saying "We are all geared to emerge as India's largest end-to-end financial exchange in the next year or two while establishing a lead role in areas of travel, prepaid and gift cards, utility payments, domestic and international money remittance, etc. Towards that extent, we are also looking to expand in a dominant way to other financial exchange sectors such as India's outward remittance and Forex markets, which will benefit both employees and employers alike." According to multiple pieces of research, businesses are looking at improvements in quality while reducing costs. This has resulted in an organic surge in the demand for effective disbursement solutions which can be tackled with innovative and digital-first platforms that are cost-effective and seamlessly integrated. "We strive to empower businesses with streamlined hassle-free tools that can drive sales, enable travel, motivate & reward employees and drive efficiencies that improve the corporates bottom-line" adds Bhavik Vasa, Chief Growth Officer, EbixCash. The company is already supporting over 8000 leading enterprises and small businesses across sectors including telecom, manufacturing, consumer brands, FMCG, IT/ITES, Insurance and BFSI to optimize their travel management and execute cost-effective reward programs. Lastly, corporate Fintech solutions benefit both the employer and the employee in equal measures. While the employer reaps the benefits of minimal paperwork and streamlined processes, the employees have access to a user-friendly and transparent platform to check their benefits, access healthcare specialists and manage their travel.