THE GREAT INDIAN (GI) RETAIL GROUP WAS ESTABLISHED TO ENABLE THE COMMON MAN
TO BENEFIT FROM THE ADVENT OF LOW-COST TRAVEL, RETAIL AND FINANCIAL SERVICES OFFERINGS ON THE INTERNET
Hermes is India’s No. 1 Retail Assisted E-Commerce network with more than 90000 locations across India and more than 9000 locations on the Philippines. Hermes retail points provide services such as money transfer, bill payments for e-commerce and utilities, travel and insurance payments, and many more.
GI Technology is a licensed Pre-paid Payment Instruments Issuers (“PPI”) further to a license granted by the Reserve Bank of India (RBI) and issues a prepaid payment instrument branded “ICASHCARD” on the Indian market. Furthermore GIT is providing payment software technology solution to banks and financial institutions.
Today, roughly 600 million people in India and the Philippines don't have bank accounts. Our vision drove us to develop products and services, which over the last decade have enabled millions of individuals in India and on the Philippines to conduct their day to day financial transactions through our retail-assisted and our self-service (web and mobile) service model.
Our subsidiary Hermes provides more than 250000 people daily with access to affordable financial services to remit money and to pay for travel tickets, utilities or online purchases through its nation-wide retail networks in India and on the Philippines.
Hermes is the exclusive distribution and recharge network for ICASHCARD, India’s leading semi-closed-loop prepaid wallet operated by our subsidiary company GI Technology and operates as a Banking Correspondent for Yes Bank in India.
GI Technology is a licensed Pre-paid Payment Instruments Issuers (“PPI”) further to a license granted by the Reserve Bank of India (RBI) and is also providing payment software technology solution to other banks and financial institutions.
Jointly our group's companies offer tens of thousands of retailers the opportunity to earn extra money by driving financial inclusion in India and the Philippines while closing the gap between the payment method of choice of emerging markets - cash - and the promises and opportunities of the new world of the Internet..
With each one of our retail agents handling payments for remittance, travel, utilities and e-commerce exceeding thousands of US Dollars per month in value, income derived from our payment services significantly contributes to the livelyhood of our retail partners.
Recent years have seen a remarkable transformation in the way India shops and trades. E-commerce has taken India's world of retail by storm and captivated the imagination of an entire generation of new entrepreneurs. Yet with Visa and MasterCard payment cards penetration still being low, cash remains the payment method of choice for more than 75% of all purchases on the Internet.
Operating a highly secure payments infrastructure certified under ISO 27001 (BS 7799) and PCI/DSS security standards GI Retail Group's subsidiaries are developing innovative technology solutions and services catering to the specific needs of the world's emerging financial services and e-commerce markets.
We at GI Retail Group have realized that the issues faced by large parts of the population in India are not local but truly global ones and hence we have expanded this vision of taking our products and services to underserved people to other growing economies such as the Philippines, Indonesia and many countries in Africa.
Today the Great Indian Dream is transforming into that of a Global Innovation to make GI’s products and services available across further countries behind India on economic and technological development.