Zaggle Prepaid Ocean Services Limited has recently informed exchanges that the company has signed an agreement with Mastercard Asia Pacific Pte Ltd, marking a new addition to its portfolio of payments and fintech partnerships. The update was shared under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
Under the agreement, Zaggle will offer Mastercard credit cards and a set of Mastercard-backed solutions to its customers and prospective clients. The arrangement is structured as a referral agreement, under which Zaggle will receive spend-linked incentives based on usage generated through these offerings. The company noted that the contract has been awarded by an international entity and is scheduled to remain in effect for five years.
Zaggle confirmed that neither the promoter group nor any group companies have an interest in the awarding entity, and the transaction does not fall under related-party arrangements. The company also clarified that the agreement is positioned entirely as a domestic offering for its users, despite being signed with an international partner.
