Zaggle, a SaaS fintech company, announced on November 1 that it has collaborated with the National Payments Corporation of India (NPCI) to issue contactless credit cards on the RuPay network.
According to the press release, Zaggle and NPCI along with partner banks would use this platform to launch multiple credit cards to address the ever-growing demand of Corporates, SMEs, and consumers.
The cards would be enabled for international as well as domestic transactions, and users would be able to use this credit card for contactless transactions.
"Zaggle would focus keenly on enhancing the user journey through digital onboarding and instant issuance along with intuitive In-App customer experience, spend insights, credit score, etc," said the release.
This would be supplemented by product innovations like gamification, customised partner offers, and other ancillary services.
The customers would also be rewarded with cashback points, accelerated reward points, air miles, and various other exciting offers and discounts.
Speaking about the partnership with NPCI, Raj N, Founder and Chairman, Zaggle said, "RBI’s announcement to link credit cards with UPI will provide a huge boost to this segment. Recently, India witnessed nearly 9.4 billion transactions of Rs 10.25 trillion led by Unified Payment Interface (UPI), and this suggests the huge opportunity that India offers."
Avinash Godkhindi, MD & CEO, Zaggle said, "The Indian market remains fairly under-penetrated and while there are challenges to growth due to the ongoing geo-political crisis, we are seeing steady demand across corporates, SMEs and Consumers."