A lot of people hold the view that India needs a cash oriented payment mechanism, and that is a very large opportunity. Businessweek has an article on a prepaid cash card — some of the consumer drivers mentioned have a lot of overlap with India. For example, the card gives consumers control over spends (unlike an ATM card which exposes the full account balance.) Another key aspect is that they seem to have done a brilliant job on distribution side — the card is accepted by Visa electron, and hence has immediate reach into a vast network.

I have a feeling that a similar concept would do very well in India as well.

Alok Mittal

Alok is a first generation entrepreneur, now in the venture capital business. Alok heads up venture operations for Canaan Partners in India, with focus on internet, technology and BPO space. Alok is also a founding member of Indian Angel Network - an organization comprising successful entrepreneurs looking to invest in seed stage businesses. Prior to this, Alok cofounded JobsAhead.com, a leading job portal which was acquired by Monster.com. Alok is an active charter member of TiE Delhi. Alok is a computer science graduate from IIT Delhi and, postgraduate from UC, Berkeley.

The views expressed on this site are personal views of Alok, and do not constitute an offical opinion of any company or organization.

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