Zaggle Prepaid Ocean Services Limited has announced two significant business developments, expanding its portfolio of strategic partnerships in the rewards and loyalty sector.

Agreement with Pernod Ricard India

Zaggle has signed a 3-year agreement with Pernod Ricard India Private Limited, centered around Zaggle's Propel Reward Platform.

Key Details of the Pernod Ricard Agreement

• Duration: The contract is set for a 3-year term.
• Service Offered: Zaggle will provide its Propel Reward Platform to Pernod Ricard India.
• Nature of Contract: The agreement is classified as domestic.

New Master Agreement with Blink Commerce

In addition to the Pernod Ricard deal, Zaggle has entered into a master agreement with Blink Commerce Private Limited.

Key Details of the Blink Commerce Agreement

• Duration: The agreement spans a 2-year execution period.
• Service Offered: Zaggle will provide Blink Commerce with the Zoyer Solution.
• Nature of Contract: This is also a domestic agreement.

Business Implications

These partnerships potentially open up new avenues for Zaggle in the corporate rewards, loyalty program, and prepaid services markets. The agreements with Pernod Ricard India, a prominent player in the alcoholic beverages industry, and Blink Commerce, likely expand Zaggle's client portfolio and market reach.

Regulatory Compliance and Transparency

In adherence to regulatory requirements, Zaggle has made the following disclosures for both agreements:

• The agreements do not involve any related party transactions.
• There is no interest from Zaggle's promoter, promoter group, or group companies in either Pernod Ricard India or Blink Commerce.
• The contracts have been executed at arm's length, ensuring fair business practices.

Management Statement

Avinash Ramesh Godkhindi, Managing Director and Chief Executive Officer of Zaggle Prepaid Ocean Services Limited, signed off on the regulatory filings, underlining the company's commitment to transparency and compliance with SEBI regulations.

These strategic partnerships underscore Zaggle's growing presence in the prepaid and corporate services sector, potentially enhancing its market position and client portfolio.

Zaggle Prepaid Ocean Services Limited has announced a strategic partnership with Suryoday Small Finance Bank Limited, marking a significant move in the financial services sector. The collaboration aims to enhance employee expense management and benefits for Suryoday Small Finance Bank.

Partnership Details

According to the official announcement made by Zaggle Prepaid Ocean Services, the company has entered into a two-year agreement with Suryoday Small Finance Bank. Under this partnership, Zaggle will provide its 'Zaggle Save' solution, which focuses on employee expense management and benefits.

Scope of Services

The 'Zaggle Save' offering is designed to streamline and optimize the process of managing employee expenses and benefits for Suryoday Small Finance Bank. This solution is expected to bring efficiency and improved management to the bank's internal financial operations related to employee expenditures.

Contract Specifics

• Duration: The agreement is set for a period of 2 years.
• Nature: It is a domestic contract between two Indian financial service entities.
• Related Party Transaction: Zaggle has confirmed that this agreement does not fall under related party transactions, ensuring transparency in the deal.

Management's Perspective

Avinash Ramesh Godkhindi, Managing Director and Chief Executive Officer of Zaggle Prepaid Ocean Services Limited, signed off on the regulatory filing, underlining the importance of this partnership for the company.

Market Impact

This collaboration between Zaggle Prepaid Ocean Services and Suryoday Small Finance Bank represents a growing trend in the financial sector where technology-driven solutions are being adopted to enhance operational efficiencies. The partnership may potentially lead to improved expense management practices and employee benefit systems within the banking sector.

As financial institutions continue to seek innovative solutions to streamline their operations, partnerships like this one between Zaggle and Suryoday Small Finance Bank are likely to become more common, fostering a more technologically advanced and efficient financial services ecosystem.