Gurgaon,India, 3 October, 2016 –Stellr India (Stellr), a leading prepaid payments solution provider, has launched a Prepaid Gift Card Mall that distributes gift cards from leading Global and Indian brands into a comprehensive network of physical retail outlets and ecommerce, enabling millions of consumers to use cash to purchase gift cards and thereby access digital content and services of these brands. Stellr plans to introduce a range of global and leading local brands from key categories including entertainment, travel and experiences, fast food, software and fashion into the network by the end of 2016. The current portfolio of local brands includes leading players like BookMyShow,Hungama, Cleartrip and Intel Security,with many more being added.Stellr’s world-class technology, expertise and access to global best practices makes it uniquely positioned to be an expert of prepaid solutions and card distribution.
Stellr’s distribution network includes over 4,000 top-tier modern retail stores (including large format stores like Reliance Digital, Croma, Vijay Sales, and many more); over 15000 general trade stores, top ecommerce companies and major wallet players. By the end of the year, the Stellr network is expected to touch 20,000 stores in 800 cities, all major ecommerce players, wallets, loyalty programs and banks, giving access to over 100m consumers. This reach will make it the most comprehensive distribution network in the prepaid ecosystem in India.
“Millions of Indian consumers do not have access to credit cards and are unable to purchase digital content from the websites and apps of global brands. Stellr aims to act as a commerce gateway, enabling consumers to buy vouchers that can be used as gifts or for self-consumption. The launch of these brands is only the first step in our journey to support the government’s initiative of driving growth of digital payments in India, reducing cash transactions,”says Vijay Raghunathan, Managing Director of Stellr India.
“India’s prolific gift-giving culture also creates huge opportunities for Stellr and our partner brands. Our estimates are that the entire gifting industry is worth approximately $40 billion out of which gift cards are positioned to take the lion’s share in the next 5 years. Stellr’s current distribution strength, coupled with the expansion plans, gives Stellr’s card partners a distinct vantage point” added Raghunathan.“We are confident that consumers will see the role gift cards can play as a convenient gifting option for various occasions, and we aim to help them access them through our large scale distribution.”
About Stellr India
Stellr India, a wholly owned subsidiary of Stellr Singapore, is a payments-centric technology business focused on providing processing services that power partner-managed prepaid distribution networks for world-leading brands in India. Supported by a global team with over 150 years of experience in payments, banking and prepaid, Stellr India offers brands and network partners cutting edge payment and redemption solutions. With the ability to offer cross-border distribution to in-country brands as well as merchandising and marketing solutions specific to each region, a single integration into Stellr India opens up one of the fastest growing economies for trade. For more information please, visit www.stellr.in.