PayWorld India's second largest e-pin distributor to establish pan India presence by year end

PayWorld India's second largest e-pin distributor to establish pan India presence by year end

Plans to increase online terminal strength from 6000 to over 50,000 by 2010

Mumbai, Maharashtra, India - PayWorld, a leading electronic distributor of pre paid products plans to tap the explosive growth in the telecom and DTH businesses to establish the country’s largest retail chain providing online services. The company provides online services for verticals like prepaid recharges, bill collection, online reservation and plans to introduce loyalty programs and facilitate financial transactions in near future.

PayWorld, an initiative of the Sugal & Damani group, pioneers of lottery business in India plans to have 50,000 fully operational terminals covering all 23 telecom circles by 2010. In the last six months, the company has grown its retail point base from 3500 to 6000 outlets. PayWorld’s existing distribution/ retailer network of over 6000 retail terminals spans across all metros, mini metros and major towns.

Commenting on PayWorld’s expansion plans Mr. Kamlesh Vijay, Group CEO, Sugal & Damani Group said, “The electronic distribution of different services are natural extension of our on line lottery business where technology and similar distribution methods have total synergy. The group experience in lottery distribution will be leveraged upon for success of this venture.“

PayWorld is set to witness a quantum jump in gross turnover this year. The FY 07 turnover was around INR 550 million and projected gross turnover for FY 08 is around INR 1500 million.

PayWorld uses multiple connectivity platforms like CDMA, GPRS and VSAT to provide a wide array of services and has tied up with all leading national and regional telecom service providers like Reliance, BSNL, Airtel, Vodafone, Idea and

Tata. PayWorld will soon expand its existing services portfolio to include new services like booking of railway, airline and bus tickets.