LEO1 launches India’s first numberless prepaid student ID Card: Check key features

LEO1, an edu-fintech company, has introduced India’s first numberless prepaid student ID Card in partnership with NSDL Payments Bank and Mastercard as part of its financial SAAS for educational institutions.

This card will serve as a prepaid card and a student ID card, rewarding responsible behavior, and promoting cashless campuses, LEO1 said.

Powered by Mastercard, the new card will ensure a safe and secure payment experience for students.

The LEO1 card will allow parents to send money digitally, monitor category-wise usage, and oversee overall spending. For students, it will facilitate seamless transactions, including tap-and-pay for institute fees, retail purchases, online transactions, and ATM withdrawals, the fintech firm said.

Gautam Aggarwal, Division President, South Asia at Mastercard, said, “A key benefit to society at large is that it will encourage the youth to manage their spends from an early age, thereby inculcating responsible financial behavior in them. Strategically targeting the 18-23 age group, the collaboration extends beyond financial transactions."