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Yes Bank announces partnership with Zaggle to launch next-gen corporate credit card

IndianStartupNews

IndianStartupNews · 2y ago

Yes Bank announces partnership with Zaggle to launch next-gen corporate credit card

Yes Bank today announced the partnership with spend management platform Zaggle to launch a co-branded Corporate Credit Card that targets corporations that allocate a substantial portion of their company's budget to travel and entertainment expenditures.

Related News

Zaggle to acquire digital banking platform Rio Money for Rs 22 crore - The Economic Times

Economic Times

Economic Times · 1m ago

Zaggle to acquire digital banking platform Rio Money for Rs 22 crore - The Economic Times

Zaggle Prepaid Ocean Services Limited, a leading spend management company in India, is acquiring a 100% stake in the fintech startup Rio Money for Rs 22 crore. Founded in 2023, Rio Money offers EMIs via credit payments on QR codes through a co-branded Yes Bank-Rio RuPay Credit Card. This acquisition marks Zaggle's entry into the consumer credit card space via UPI and strengthens its ongoing partnership with Yes Bank, enhancing their digital payments reach.

Kotak Mahindra Bank open to more partnerships on co-branded credit cards, says senior executive

Money Control

Money Control · 1y ago

Kotak Mahindra Bank open to more partnerships on co-branded credit cards, says senior executive

Kotak Mahindra Bank is planning to launch more co-branded credit cards in partnership with industry players. The bank currently has five co-branded credit cards with IndiGo Airlines, PVR, Indian Oil Corporation, Myntra, and Metro Cash and Carry. Additionally, Kotak Bank has partnered with BookMyShow to offer discounts on tickets for international artists, which has seen significant growth in credit card spending. The bank is also focused on boosting its RuPay credit card business, which has been performing well.

Zaggle Q3: PAT Jumps 10X YoY To INR 15.2 Cr

Inc42 · 1y ago

Zaggle Q3: PAT Jumps 10X YoY To INR 15.2 Cr

Fintech SaaS startup Zaggle saw a significant jump in its profit after tax (PAT), reporting a 10x increase to INR 15.2 Cr in Q3 of FY24, compared to INR 1.5 Cr in the same period last year. The company's strategic product diversification and cost-cutting measures contributed to the growth. Zaggle also achieved an all-time high quarterly revenue, with a 35.1% YoY increase to INR 199.5 Cr. Founder Narayanam highlighted the successful launch of commercial credit card offerings and the entry into the fleet loyalty card program as factors driving growth.

Rio launches UPI app, partners Yes Bank and NPCI

Economic Times

Economic Times · 9m ago

Rio launches UPI app, partners Yes Bank and NPCI

Fintech platform Rio has launched its UPI app and partnered with Yes Bank and NPCI to introduce a co-branded credit card. The card allows users to make purchases via UPI at over 100 million merchant locations across India, aiming to meet the growing demand for accessible financial solutions, particularly in tier 2 and tier 3 cities. Within a month of its beta launch, Rio received applications from over 244 cities across India, highlighting the demand for high-quality products outside major cities. Experts estimate that credit on UPI will create a $1 trillion opportunity by 2030.

ONDC To Launch Insurance, Mutual Fund Products In Two Months

Inc42 · 1y ago

ONDC To Launch Insurance, Mutual Fund Products In Two Months

The network, ONDC, plans to launch credit card offerings in partnership with Mastercard but has not set a specific timeframe. Their mutual fund offering is set to go live next month. Additionally, ONDC has partnered with nine lending service providers to offer digital loans to users in just six minutes.

Yes Bank, IDFC First Bank to levy surcharge on utility payments with credit cards

Money Control

Money Control · 1y ago

Yes Bank, IDFC First Bank to levy surcharge on utility payments with credit cards

Yes Bank and IDFC First Bank have announced the introduction of surcharges on utility transactions starting from May 1. Yes Bank will charge a 1% surcharge plus GST on utility bill payments exceeding Rs 15,000, while IDFC First Bank will impose a 1% surcharge plus GST on bill payments exceeding Rs 20,000. The move aims to discourage misuse of credit cards for utility transactions and could potentially lead to other banks implementing similar surcharges. Credit card users need to be aware of these surcharges and plan their expenses accordingly.

PhonePe, HDFC Bank partner to launch UPI-linked co-branded credit cards

YourStory

YourStory · 2m ago

PhonePe, HDFC Bank partner to launch UPI-linked co-branded credit cards

PhonePe and HDFC Bank have launched a co-branded credit card linked to UPI, targeting India's digitally savvy consumers. The card, available in two variants, integrates with the UPI network, allowing credit payments via UPI QR codes at merchants. This partnership combines PhonePe’s user base with HDFC’s credit expertise. The card offers rewards such as 10% points on selected spends and airport lounge access, reflecting a trend of co-branded cards in India’s payment ecosystem.

Fintech majors are counting on co-branded cards in returns play - The Economic Times

Economic Times

Economic Times · 1m ago

Fintech majors are counting on co-branded cards in returns play - The Economic Times

Google Pay plans to launch a co-branded credit card with Axis Bank, marking its entry into regulated financial products in India. This move follows its previous gold loans partnership with Muthoot Finance. Indian fintechs, including Google Pay and PhonePe, are enhancing their credit offerings to generate steady revenue, especially since UPI payments remain free. These collaborations allow fintechs to engage customers and earn commissions while maintaining stringent applicant checks for financial safety.

Jupiter partners with CSB Bank to launch its most rewarding RuPay credit card

IndianStartupNews

IndianStartupNews · 2m ago

Jupiter partners with CSB Bank to launch its most rewarding RuPay credit card

Indian fintech firm Jupiter, in partnership with CSB Bank, has launched the Edge+ CSB Bank RuPay Credit Card. This card, touted as the most rewarding with no annual fee, integrates UPI and traditional card transactions, offering up to Rs 50,000 in annual rewards. Tailored for digital-savvy users, it provides cashbacks on popular platforms like Amazon and Myntra. The card, available through Jupiter’s app, aligns with its philosophy of simple and rewarding financial experiences.

Turmoil strikes Scapia customers as Federal Bank Slashes credit limits of cobranded credit cards

Inc42 · 1y ago

Turmoil strikes Scapia customers as Federal Bank Slashes credit limits of cobranded credit cards

Travel fintech startup Scapia has faced backlash after customers complained about the sudden reduction of credit limits on their cobranded credit cards issued in partnership with Federal Bank. The move, effective from January 10, 2024, left customers disgruntled and took to social media platforms to voice their concerns. While Scapia has not responded to queries, Federal Bank attributed the credit limit reductions to periodic reviews and adherence to credit card usage guidelines. Sources suggest that inactive users may have received a directive to lower their credit card limits or have their cards disabled.

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