JOHNS CREEK, Ga., June 21, 2022 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ: EBIX), (the “Firm”) a number one worldwide provider of On-Demand software program and E-commerce companies to the insurance coverage, monetary, journey, healthcare and e-learning industries as we speak offered clarifications associated to nature and metrics of companies and types that underlay its total EbixCash enterprise.
- Present Card Gross sales – Ebix clarified that EbixCash reward playing cards are offered to Company purchasers just for their staff, companions, associates or distribution community.
- Present card gross sales to Corporates might have a special income remedy by EbixCash (Gross foundation – being the producer) vs. the Company (Web foundation – being a commissioned company). For instance, a $100 worth card is recorded as $100 in gross income by EbixCash whereas probably getting recorded between 20 to 40 cents in internet income by the company agent, who gives the cardboard to its company community.
- Per EbixCash’s contract with issuing Banks, reward playing cards can solely be offered by Corporates accepted by the Banks, to their Company community after a mandated (Know Your Buyer (KYC) onboarding course of.
- Per EbixCash’s contract with issuing Banks, Present playing cards can’t be offered by simply any EbixCash franchisee or retail outlet.
- Present playing cards can solely be procured and activated by EbixCash, as soon as the reward playing cards have been related to an accepted Company entity, and solely after a KYC approval for the Company has been granted by the Reserve Financial institution of India (RBI). The identical activation course of additionally applies for every affiliate community entity related to the Company buyer.
- The core performance, utilization, interfacing with distributors and servicing of the cardboard is dealt with by the Banks, gateway suppliers, banking know-how framework and so on. and never by EbixCash.
- EbixCash or Ebix doesn’t have any direct or oblique reference to any of its franchises, corporates or their Administrators or staff.
- EbixCash App Downloads of three.74 million plus – To assist the assorted verticals and sub-brands of EbixCash’s journey, foreign exchange, funds, ticketing, remittance, bus alternate, healthcare companies and so on., EbixCash has developed a large spectrum of extremely targeted B2B and B2C apps out there by way of the Google Play Retailer, the Apple App Retailer or as html browser plugins. Although Might 31, 2022 over 3.74 million downloads of those EbixCash Apps have occurred, as referenced within the following hyperlink: https://ebixcash.com/ebixcashmobileapps/
Whereas EbixCash has achieved substantial whole downloads of its spectrum of apps, obtain metrics will not be a core goal for the Firm, because the Firm is principally targeted on offering its companies digitally on computer systems by way of customized functions constructed particularly for B2B channel finish customers. The Firm does pursue a direct-to-consumer channel nevertheless that’s at present achieved primarily by offering digital know-how and companies to roughly 650,000 retail areas throughout South-east Asia. These “phygital” EbixCash retailers are designed to offer “final mile” digital options to a potential base of tons of of tens of millions of individuals throughout the size and breadth of South east Asia. EbixCash is constructing visibility and model loyalty with this huge base of consumers because the Indian financial system continues to develop and modernize.
Accordingly, EbixCash is differentiated by its rising array of companies and worthwhile B2C technique versus different market individuals that proceed to report substantial losses from their efforts to construct viable long run companies.
- EbixCash WorldMoney Workplaces – Because of Covid-19 pandemic shut-downs and as part of its ongoing value rationalization efforts, EbixCash elected to shut just a few EbixCash WorldMoney Foreign exchange places of work and relocate them to greater visitors areas after securing requisite RBI approvals that are on file. EbixCash WorldMoney retailers are licensed by the RBI to completely present overseas alternate companies and thus will not be capable of promote home pre-paid reward playing cards.
- Following RBI approval on August 17th 2020, the EbixCash WorldMoney Andheri East Workplace at Sterling Centre, Mumbai was relocated to seventh Ground Surkasha Ace, Andheri East, Unit 701 additionally in Mumbai.
- The EbixCash WorldMoney Bangalore Foreign exchange Workplace positioned at Jayanagar was merged with present RBI licensed EbixCash WorldMoney foreign exchange branches at Indiranagar and Malleshwaram in Bangalore. Accordingly, the Jayanagar workplace lease was terminated on July 20, 2020.
Photographs of the 2 closed places of work and their substitute areas together with mapping pictures, may be seen on https://ebixcash.com/officerelocation/
- RuPay, Grasp Card and Visa – EbixCash has long-standing, symbiotic relationships with every of the three main bank card manufacturers which embody joint advertising and marketing initiatives to drive elevated attain and enterprise progress.
- EbixCash is at present engaged in quite a lot of joint advertising and marketing initiatives with its bank card accomplice which embody joint commercials in magazines, on billboards, on bus shelters and different high-traffic areas throughout many Indian cities, along with social media and website online branding, and so on.
- These packages can embody superstar social media visibility, equivalent to latest social media publicity for the EbixCash Globetrotter Journey Card by the Captain of the India Cricket Workforce by way of the Mastercard Community.
Photographs of among the campaigns may be seen right here: https://ebixcash.com/brandingcards/
- Know-how & Associated Companies – EbixCash’s Know-how and companies are as we speak utilized by all kinds of constituents, throughout a spectrum of EbixCash services and products. This consists of –
- Monetary establishments in 70 nations
- Main banks in India
- Main companions like Western Union, MoneyGram, Ria
- Worldwide airports in India
- High telecom gamers like BSNL, Airtel and so on.
- A majority of India’s Authorities Bus Roadways firms whereas powering info know-how in tens of 1000’s of buses
- IRCTC, the world’s largest railway community, for rail ticket reserving, and so on.
- 1000’s of corporates and in flip their staff
- 12 ports in India
- Many Giant airways in India
- 1000’s of Instructional establishments
- Giant monetary networks with 1000’s of retailers
- Majority of the 5 star inns in India
- Responsibility free retailers in India
- Main Non secular establishments
- Giant media retailers
EbixCash gives a spectrum of mission crucial companies to its userbase whereas guaranteeing that its methods are operating 24 hours per day, 7 days per week, one year a 12 months. For extra on EbixCash companies, know-how or distribution attain, please entry www.EbixCash.com
About Ebix, Inc.
With roughly 200 places of work throughout 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to offer on-demand software program and e-commerce companies to the insurance coverage, monetary companies, journey, healthcare and e-learning industries. Within the Insurance coverage sector, Ebix’s important focus is to develop and deploy all kinds of insurance coverage and reinsurance exchanges on an on-demand foundation, whereas additionally, offering Software program-as-a-Service (“SaaS”) enterprise options within the space of CRM, front-end & back-end methods, outsourced administration and threat compliance companies, around the globe.
With a “Phygital” technique that mixes over 650,000 bodily distribution retailers in lots of Southeast Asian Nations (“ASEAN”) nations, to an Omni-channel on-line digital platform, the Firm’s EbixCash Monetary alternate portfolio of software program and companies encompasses home and worldwide cash remittance, overseas alternate (Foreign exchange), journey, pre-paid reward playing cards, utility funds, lending and wealth administration throughout 75+ nations together with India. EbixCash’s Foreign exchange operations is a frontrunner in India’s airport Foreign exchange enterprise, with operations in roughly 16 worldwide airports, together with Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata, mixed conducting over $4.8 billion in gross transaction worth per 12 months (pre-COVID-19). EbixCash’s inward remittance enterprise in India processed roughly $5 billion in gross annual remittance quantity (pre-COVID-19) and is the clear market chief. EbixCash, by its journey portfolio of Through and Mercury, can also be one in all Southeast Asia’s main journey exchanges with over 517,000 brokers and roughly 17,900 registered company purchasers, mixed having processed an estimated $2.5 billion in gross merchandise worth per 12 months (pre-COVID-19). EbixCash’s monetary applied sciences enterprise provides software program options on the enterprise degree for banks, asset and wealth administration corporations and belief corporations inside India, Southeast Asia, the Center East and Africa. The EbixCash’s e-learning options are offered to varsities throughout the breadth of India by way of prime quality 2-D and 3-D animation and multimedia studying. EbixCash’s enterprise course of outsourcing companies present info know-how and name middle companies to quite a lot of industries.
By means of its varied SaaS-based software program platforms, Ebix employs 1000’s of domain-specific know-how professionals to offer merchandise, assist and consultancy to 1000’s of consumers on six continents. For extra info, go to the Firm’s web site at www.ebix.com
SAFE HARBOR REGARDING FORWARD-LOOKING STATEMENTS
As used herein, the phrases “Ebix,” “the Firm,” “we,” “our,” and “us” consult with Ebix, Inc., a Delaware company, and its consolidated subsidiaries as a mixed entity, besides the place it’s clear that the phrases imply solely Ebix, Inc.
The knowledge contained on this Press Launch accommodates forward-looking statements and data throughout the “secure harbor” provisions of the Non-public Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of 1933, and Part 21E of the Securities Change Act of 1934. This info consists of assumptions made by, and data at present out there to administration, together with statements concerning future financial efficiency and monetary situation, liquidity and capital sources, acceptance of the Firm’s merchandise by the market, and administration’s plans and aims. As well as, sure statements included on this and our future filings with the Securities and Change Fee (“SEC”), in press releases, and in oral and written statements made by us or with our approval, which aren’t statements of historic reality, are forward-looking statements. Phrases equivalent to “could,” “might,” “ought to,” “would,” “consider,” “anticipate,” “anticipate,” “estimate,” “intend,” “seeks,” “plan,” “mission,” “proceed,” “predict,” “will,” and different phrases or expressions of comparable which means are meant by the Firm to determine forward-looking statements, though not all forward-looking statements comprise these figuring out phrases. These forward-looking statements are discovered at varied locations all through this report and within the paperwork integrated herein by reference. These statements are primarily based on our present expectations about future occasions or outcomes and data that’s at present out there to us, contain assumptions, dangers, and uncertainties, and converse solely as of the date on which such statements are made.
Our precise outcomes could differ materially from these expressed or implied in these forward-looking statements. Elements that will trigger such a distinction, embody, however will not be restricted to these mentioned in our Annual Report on Type 10-Okay for the 12 months ended December 31, 2021 and subsequent experiences filed with the SEC, in addition to: the continuing results of the Covid-19 international pandemic, the willingness of impartial insurance coverage businesses to outsource their pc and different processing wants to 3rd events; pricing and different aggressive pressures and the Firm’s means to achieve or keep share of gross sales on account of actions by rivals and others; modifications in estimates in crucial accounting judgments; modifications in or failure to adjust to legal guidelines and laws, together with accounting requirements, taxation necessities (together with tax charge modifications, new tax legal guidelines and revised tax interpretations) in home or overseas jurisdictions; alternate charge fluctuations and different dangers related to investments and operations in overseas nations (notably in India, Australia and Asia, Latin America and Europe whereby we now have vital and/or rising operations); fluctuations within the fairness markets, together with market disruptions and vital rate of interest fluctuations, which can impede our entry to, or enhance the price of, exterior financing; means to safe further financing to assist capital necessities; credit score facility provisions that might materially limit our enterprise; prices and results of litigation, investigations or related issues that might have an effect on our enterprise, working outcomes and monetary situation; and worldwide battle, together with terrorist acts and wars.
Besides as expressly required by the federal securities legal guidelines, the Firm undertakes no obligation to replace any such components, or to publicly announce the outcomes of, or modifications to any of the forward-looking statements contained herein to mirror future occasions, developments, modified circumstances, or for some other cause.
Readers ought to rigorously assessment the disclosures and the chance components described within the paperwork we file once in a while with the SEC, together with future experiences on Varieties 10-Q and 8-Okay, and any amendments thereto.
You might get hold of our SEC filings at our web site, www.ebix.com below the “Investor Info” part, or over the Web on the SEC’s website online, www.sec.gov
678 -281-2027 or [email protected]
David Collins or Chris Eddy
Catalyst World – 212-924-9800 or [email protected]