Zaggle Prepaid Ocean Services Limited announced on Monday that it has entered into a strategic agreement with AU Small Finance Bank Limited to launch a range of co-branded credit and commercial cards.
According to the company’s exchange filing, the partnership will see the introduction of a co-branded retail credit card powered by a personalized recommendation engine and TPAP (Third Party Application Provider) integration. Alongside this, a commercial card offering will be rolled out, leveraging Zaggle’s enterprise network and powered by its in-house Zatix analytics platform.
The agreement, awarded by AU Small Finance Bank, is domestic in nature and will be executed over a three-year period. Zaggle noted that the collaboration aims to integrate its SaaS-based solutions and payment expertise to expand its corporate and retail footprint in the card ecosystem.
The company clarified that neither its promoters nor promoter group have any interest in AU Small Finance Bank, and the transaction does not fall under related party transactions.
