Zaggle Prepaid Ocean Services Limited has entered into an agreement with Mastercard Asia/Pacific Pte. Ltd to launch and promote co-branded domestic prepaid cards on the Mastercard network. The company informed the stock exchanges of this development through a regulatory filing on September 23, 2025.
According to the disclosure, Mastercard will incentivise Zaggle to introduce and expand the usage of these co-branded prepaid cards across India. The agreement, which came into effect on September 22, 2025, will remain valid until September 30, 2030.
The filing clarified that this is an international collaboration but pertains to domestic transactions within India. Zaggle emphasized that neither its promoter group nor related parties have any interest in the agreement, ensuring the transaction is conducted at arm’s length.
Founded in 2011, Zaggle operates as a fintech company offering spend management, employee rewards, and corporate gifting solutions. Its latest partnership with Mastercard marks another step towards expanding its product offerings in the domestic payments space.
