Hyderabad-based Zaggle, a profitable SaaS FinTech company and a pioneer in digitizing business spends, on Wednesday announced that it has collaborated with National Payments Corporation of India (NPCI) to issue contactless credit cards on the RuPay network.
Zaggle and NPCI along with partner banks would use this platform to launch multiple credit cards to address the ever-growing demand of Corporates, SMEs, and consumers.
The cards would be enabled for international as well as domestic transactions, making business travel convenient and easy, the FinTech company said in a release here.
Besides, users would be able to use this credit card for contactless transactions as well.
Zaggle would focus keenly on enhancing the user journey through digital onboarding and instant issuance along with intuitive In-App customer experience, spend insights, credit score. This would be supplemented by product innovations like gamification, customised partner offers, and other ancillary services. The customers would also be rewarded with cashback points, accelerated reward points, air miles, and various other exciting offers and discounts.
Zaggle intends to combine credit cards as payment solutions to their Spend Management software providing the businesses with a holistic value proposition. The cards and software would be available as tightly integrated solutions for customers to address their unique requirements.
Speaking about the partnership with NPCI, Raj N, Founder and Chairman, Zaggle said, “RBI’s announcement to link credit cards with UPI will provide a huge boost to this segment. Recently India witnessed nearly 9.4 billion transactions of INR 10.25 trillion led by Unified Payment Interface (UPI), and this suggests the huge opportunity that India offers.
We are excited about our partnership with the NPCI and the launch of multiple credit cards will enable us to fulfil customer requirements providing them with several benefits and rewards”.
The Indian spend management market provides an addressable opportunity of nearly $1 trillion and through our innovation led-partnerships, we will continue to revolutionise credit offerings for our customers, Raj added.
Avinash Godkhindi, Managing Director & CEO, Zaggle said, through our credit cards, we intend to provide access to credit to largely underserved Indian consumers. The Indian market remains fairly under-penetrated and while there are challenges to growth due to the on-going geo-political crisis, we are seeing steady demand across corporates, SMEs and Consumers.
We will continue with innovation-led partnerships and the multiple credit cards will be another step in our vision to revolutionize digital payments and lending ecosystem in the country,” he added.
Gaurish Korgaonkar, Head – Fintech and Corporate Business, NPCI said, “We are delighted to partner with Zaggle for facilitating business transactions seamlessly via our new contactless credit cards on the RuPay network.
These cards will be enabled for domestic as well as international transactions and hence, will play a pivotal role in aiding the requirements of business travellers.
At NPCI, we constantly aim to innovate and augment an already extensive line of products and services targeted towards boosting digital spends and expediting the creation of a cashless economy.”
Currently, Zaggle has 1,750+ active clients, 12000+ merchants and over 1.7 million+ active users. The company has offices across 7 cities with 250+ employees and is committed to bringing the best-inclass user experience to its users.