OYO is a leading company of Hotels and a budget aggregator has now partnered with ItzCash, a multi-service payments solutions. OYO is trying to tap the next 500 million underserved Indian consumer segments from this partnership. It also facilitates effortless payments for hotel bookings across 5,500 hotels in over 170 cities in India through ItzCash’s easy money transfer solutions.

It helps potential consumers who do not have access to either credit or debit cards. ItzCash is already a dominant player in travel segment. However, the company is going aggressive in hotel booking and aims at doubling its volume and clock Rs 400 crore by 2017-18. ItzCash is backed by Lightspeed Ventures, which is also an investor in OYO.

ItzCash will now offer access to OYO via an online co-branded portal as well as offline outlets. Both OYO and ItzCash have existing synergies with IRCTC.

“The partnership with ItzCash will enable us to reach the large traveller-base that transacts through offline channels. ItzCash is a trusted partner for these customers and this long-standing association will undoubtedly help them build preference and familiarity with OYO,” said Ritesh Agarwal, CEO, and Founder, OYO.

Travel & Hotel bookings account for 12 – 15 % of ItzCash business and is expected to grow at 60% year-on-year.

”With this integration, we aim to further strengthen ItzCash’s foothold on the digital stage. While we already dominate Rail bookings; our focus in an air and hotel bookings will drive the incremental growth in the next two fiscals for ItzCash,” said Naveen Surya, Managing Director, ItzCash. “We aim at addressing the problem faced by a large section of society that is unaware of doing advance hotel booking at an affordable rate,” Surya added.