Zaggle Prepaid Ocean Services Limited , a leading fintech company, has announced a significant partnership with Mastercard Asia/Pacific Pte. Ltd. to launch and promote co-branded domestic prepaid cards. This strategic move is set to enhance Zaggle's position in the prepaid card market and expand its product offerings.

Partnership Details

The Customer Business Agreement between Zaggle and Mastercard, effective from September 22, 2025, outlines a five-year collaboration that will expire on September 30, 2030. Under this agreement, Mastercard will provide incentives to Zaggle for the launch and promotion of co-branded domestic prepaid cards on the Mastercard network.

Strategic Implications

This partnership represents a significant step for Zaggle in expanding its prepaid card offerings. By leveraging Mastercard's global network and expertise, Zaggle aims to enhance its product portfolio and potentially increase its market share in the rapidly growing fintech sector.

Key Points of the Agreement

• Nature of the Deal: The agreement is classified as a Customer Business Agreement for Mastercard Domestic Prepaid Card Co-Branded with "Zaggle".
• Scope: While the partnership involves an international entity (Mastercard Asia/Pacific Pte. Ltd.), the transactions will be domestic in nature.
• Duration: The agreement spans a period of just over five years, providing a stable framework for long-term collaboration.

Corporate Governance

Zaggle has confirmed that this agreement does not involve any related party transactions. Additionally, neither the promoter nor the promoter group has any interest in Mastercard, ensuring transparency and adherence to corporate governance standards.

Market Impact

This partnership could potentially strengthen Zaggle's position in the prepaid card market, offering customers a wider range of payment solutions. The collaboration with a global player like Mastercard may also enhance Zaggle's credibility and reach in the fintech space.

Future Outlook

As the fintech industry continues to evolve rapidly, strategic partnerships like this one between Zaggle and Mastercard are likely to play a crucial role in shaping the future of digital payments and prepaid card services in India. The success of this venture will depend on the effective implementation of the co-branded prepaid card program and the market response to these new offerings.

Zaggle's move to partner with Mastercard demonstrates the company's commitment to innovation and expansion in the competitive fintech landscape. As the partnership unfolds, it will be interesting to observe how this collaboration impacts Zaggle's market position and financial performance in the coming years.

Zaggle Prepaid Ocean Services Limited has announced a strategic partnership with AU Small Finance Bank Limited (AU SFB) to launch co-branded credit cards, marking a significant move in the fintech and banking sector collaboration.

Partnership Details

The three-year agreement focuses on introducing two key products:

1. Co-branded Retail Credit Card: This offering will be powered by a personalized recommendation engine and Third-Party Application Provider (TPAP) integration.
2. Commercial Card: Leveraging Zaggle's enterprise presence and powered by the Zaggle Zatix analytics platform.

Strategic Implications

This partnership represents a strategic move for both entities:

• For Zaggle: The company aims to leverage its existing corporate client base to promote the co-branded retail credit cards and commercial cards. This aligns with Zaggle's expertise in SaaS solutions and payment systems.
• For AU Small Finance Bank: The collaboration allows the bank to expand its credit card offerings, tapping into Zaggle's corporate network and technological capabilities.

Technology Integration

The partnership highlights the integration of advanced financial technologies:

• Personalized recommendation engine for the retail credit card
• TPAP integration, enhancing the card's functionality and user experience
• Utilization of Zaggle Zatix analytics platform for the commercial card, potentially offering enhanced data insights for business users

Market Position

This move could strengthen Zaggle's position in the fintech space, particularly in the B2B segment where it has a strong presence. For AU Small Finance Bank, it represents an opportunity to expand its product portfolio and reach a wider corporate clientele.

Execution Timeline

The agreement is set for a three-year period, during which both companies will work to implement and grow these co-branded card offerings.

Avinash Ramesh Godkhindi, Managing Director and Chief Executive Officer of Zaggle Prepaid Ocean Services Limited, signed the agreement, underscoring the company's commitment to this new venture.

As the financial services landscape continues to evolve, partnerships between fintech companies and traditional banks are becoming increasingly common. This collaboration between Zaggle and AU Small Finance Bank exemplifies the trend towards integrated financial services that combine technological innovation with established banking infrastructure.