Zaggle Prepaid Ocean Services has announced a new business partnership through a deal with Cubastion Consulting Private Limited. This collaboration marks another strategic move for the fintech services provider as it continues to expand its business relationships.

Partnership Details

The company has confirmed its entry into a deal with Cubastion Consulting Private Limited, though specific terms and conditions of the partnership have not been disclosed in the announcement. The collaboration represents a new business development initiative for Zaggle Prepaid Ocean Services.

Business Implications

This partnership announcement reflects Zaggle's ongoing strategy to forge new business relationships within the financial services sector. The collaboration with Cubastion Consulting Private Limited adds to the company's network of business partnerships, potentially expanding its service capabilities and market reach.

The deal represents part of Zaggle's broader business development efforts as the company continues to strengthen its position in the prepaid services and financial technology market. Such partnerships typically aim to enhance service offerings and create synergies between collaborating entities.

Company Background

Zaggle Prepaid Ocean Services operates in the fintech sector, providing prepaid services and financial technology solutions. The company's business model focuses on delivering innovative payment and expense management solutions to corporate clients and individual users.

This latest partnership with Cubastion Consulting Private Limited demonstrates the company's commitment to expanding its collaborative network and exploring new business opportunities in the evolving financial services landscape.

Zaggle Prepaid Ocean Services has strengthened its payment solutions portfolio by executing a strategic seven-year agreement with Visa Worldwide Pte Ltd on December 31. The growth agreement positions the fintech company to expand its prepaid card offerings through Visa's established network infrastructure.

Partnership Details and Structure

The collaboration involves Visa providing incentives to Zaggle for launching and promoting co-branded domestic prepaid cards on the Visa network. Key parameters of the partnership include:

The company has confirmed that neither the promoter, promoter group, nor group companies maintain any interest in Visa, ensuring the agreement does not fall within related party transaction guidelines.

Recent Mastercard Partnership

This Visa agreement complements Zaggle's recent partnership with Mastercard Asia/Pacific Pte Ltd executed in December. The Mastercard arrangement focuses on different payment solutions:

The dual partnerships with major payment networks demonstrate Zaggle's strategy to diversify its payment solution offerings across both prepaid and credit card segments.

Market Performance

Zaggle Prepaid Ocean Services shares ended the trading session at ₹347.85 on December 31, declining by ₹4.45 or 1.26% on the BSE. The stock movement occurred on the same day as the Visa agreement announcement.

Strategic Expansion Context

These payment network partnerships align with Zaggle's broader fintech expansion initiatives. The company has been actively pursuing growth through strategic agreements and acquisitions, including moves to acquire Rivpe Technology and aims to issue one million credit cards over five years following the Rio acquisition.

The seven-year Visa agreement and five-year Mastercard partnership provide Zaggle with long-term frameworks to expand its payment solutions across multiple network platforms, potentially enhancing its market position in the domestic prepaid and credit card segments.