Zaggle, a SaaS FinTech company, announced on Tuesday that it had collaborated with the National Payments Corporation of India (NPCI) to issue contactless credit cards on the RuPay network.
According to a press release, 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 are said to be enabled for international and domestic transactions. Users would be able to use this credit card for contactless transactions as well. 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,” the company added.
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 over Rs 10 lakh crore led by UPI, which suggests the huge opportunity India offers. 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.”
Gaurish Korgaonkar, Head – Fintech and Corporate Business, NPCI, said, “These cards will be enabled for domestic as well as international transactions and 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 spending and expediting the creation of a cashless economy.”
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