SaaS fintech company, Zaggle has reportedly collaborated with NPCI (National Payments Corporation of India) to issue contactless credit cards on the RuPay network.
Sources cite that Zaggle and NPCI, along with the partner banks, will be using this platform to unveil multiple credit cards for addressing the rising demand of SMEs, corporates, and consumers.
These cards can be used for international as well as domestic transactions, making business travel easy and convenient.
In addition, users can use this card to make contactless transactions.
Speaking on the latest partnership, Raj N, Founder and Chairman, Zaggle, mentioned that the announcement made by RBI to link credit cards with UPI will offer a massive boost to the segment.
Raj further stated that recently, 9.4 billion transactions worth $124 billion (INR 10.25 trillion) were recorded using UPI (Unified Payment Interface), further depicting the country's immense scope.
Raj expressed the team’s gratitude for collaborating with NPCI while adding that the launching of multiple credit cards will empower Zaggle to satisfy customer demands and provide several rewards and benefits to the customers.
Raj also underscored that the Indian spend management market holds an addressable opportunity of almost $1 trillion, besides claiming that with this innovative collaboration, the firm is slated to transform credit offerings to the customers.
It is worth mentioning that Zaggle will focus more on improving the user journey with the help of instant issuance and digital onboarding, as well as an intuitive in-app customer experience, credit score, and spending insights.
Apparently, this would be backed by product innovations like gamification, customized partner offers, and other ancillary services.
In addition to several exciting offers and discounts, the customers will also receive cashback points, air miles, and accelerated reward points.
It has also been reported that Zaggle plans to combine credit cards as payment solutions to their Spend Management software, offering a holistic value proposition to businesses.
Customers will also be able to customize the cards and software as per their unique requirements.