Zaggle Prepaid Ocean Services Limited on Saturday announced that it has entered into a service agreement with Hitachi Cash Management Services Private Limited. The company informed the stock exchanges that it will provide its flagship platform, Zaggle Propel, to Hitachi under the terms of the agreement.
According to the regulatory filing, the contract has been awarded by a domestic entity and will run for a period of three years. The engagement falls under a services agreement category and does not involve any related party transactions. The company clarified that neither promoters nor promoter group companies have any interest in the entity awarding the contract.
Zaggle noted that the arrangement is in compliance with SEBI’s listing regulations and the disclosure was made as required under Regulation 30 of SEBI (LODR) rules.
Zaggle Propel is the company’s spend management and employee rewards platform used by enterprises for automating expense processes, incentives, and corporate benefits. The partnership is expected to support Hitachi Cash Management Services’ operations through digital rewards and spend automation solutions.
