Zaggle, NPCI partner to launch multiple credit cards on RuPay network

Zagal and NPCI along with partner banks will use this platform to launch multiple credit cards to meet the growing demand from corporates, SMEs and consumers. The cards will be enabled for international and domestic transactions, making business travel convenient and easy. Apart from this, users will also be able to use this credit card for contactless transactions.

Avinash Godkhindi, MD & CEO, Zagal said, “Through our credit cards, we intend to provide access to credit to largely underserved Indian consumers. With the current geo-political crisis posing challenges to growth, we are seeing stagnant demand from corporates, SMEs and consumers.

Zaggle will focus on enhancing the user journey through digital onboarding and instant issuance as well as seamless in-app customer experience, spending insights, credit scores, etc. This will be complemented by product innovations such as gamification, customized partner offers and other ancillary services. Customers will also be rewarded with exciting offers and discounts like cashback points, instant reward points, air miles and many more.

Raj N, Founder and Chairman, Zagal, said, “The RBI’s announcement of linking credit cards with UPI will give a huge boost to the segment. Recently India saw about 9.4 billion transactions 10.25 trillion led by Unified Payment Interface (UPI), and this suggests the huge opportunity that India offers. We are excited about our partnership with NPCI and with the launch of multiple credit cards, we will be able to meet the needs of the customers and offer them multiple benefits and rewards. The Indian expense management market offers an addressable opportunity of approximately $1 trillion and through our innovation leadership-partnership, we will continue to revolutionize credit offerings for our customers.”

Zaggle intends to combine credit cards into their expense management software as payment solutions that provide businesses with an overall value proposition. The card and software will be available as a tightly integrated solution to the customers to meet their unique requirements.

Saurabh Puri, Chief Business Officer – Credit Cards, Zagal said, “The adoption of credit products in the country is growing at a rapid pace and we see huge headroom for credit growth. Credit card launches in association with NPCI should grow rapidly. The credit card will focus on enhancing the user journey through digital on-boarding, instant issue and in-app customer experience and provide customers with cashback points, instant reward points, air miles and more. Will be rewarded with many other benefits. Business travel will become much easier as the cards will enable international and domestic contactless transactions. We are in sync with RBI’s vision of ‘less cash’ economy and multiple credit cards on RuPay network The launch will help in building a Digital India.”

Gaurish Korgaonkar, Head of Fintech and Corporate Business, NPCI said, “…these cards will be capable of domestic and international transactions and, therefore, will play a vital role in meeting the needs of business travellers. At NPCI, we promote digital spending. We aim to innovate and enhance our already extensive line of products and services aimed at accelerating the creation of a cashless economy.