Zaggle Prepaid Ocean Services has announced a strategic move to strengthen its position in the loyalty and rewards segment. The company's board has approved the acquisition of Greenedge Enterprises Private Limited, a niche player in golf-based corporate engagement, for a consideration of up to ₹25 crore.

Acquisition Details

The board of Zaggle has given the green light for the following transactions:

1. Acquisition of 1,30,000 equity shares, representing 100% of Greenedge's issued and paid-up capital, for a consideration of up to ₹25 crore.
2. An additional investment of up to ₹25 crore in Greenedge, to be made in one or more tranches.

Strategic Rationale

Zaggle's decision to acquire Greenedge is aimed at enhancing its product portfolio in the loyalty and rewards segment. The acquisition is expected to give a significant boost to Zaggle's 'Propel' offering, while also strengthening its position in the travel segment.

About Greenedge Enterprises

Greenedge Enterprises, incorporated on March 9, 2009, specializes in providing solutions for golf travel, experiences, and access-based rewards. The company operates exclusively in the B2B sector, focusing on golf and other rewards and benefits in partnership with RuPay Card (NPCI).

Financial Performance

Greenedge has shown impressive growth over the past three years:

Transaction Timeline and Structure

The acquisition is expected to be completed within 45 days. Zaggle will acquire 1,30,000 equity shares of Greenedge, each with a face value of ₹10. Additionally, Zaggle plans to invest in 1,62,548 equity shares of Greenedge, also with a face value of ₹10 each.

Regulatory Compliance

The company has confirmed that this acquisition does not fall under related party transactions, and no governmental or regulatory approvals are required for the deal.

This strategic move by Zaggle underscores the company's commitment to expanding its footprint in the loyalty and rewards sector, particularly in niche areas like golf-based corporate engagement. As the fintech landscape continues to evolve, such acquisitions may play a crucial role in shaping the future of customer engagement and rewards programs in India.

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.