Zaggle Prepaid Ocean Services Limited has informed the Exchange about Bagging/Receiving of orders/contracts
ZAGGLE · price
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Awaiting price reaction for this filing.
Zaggle has entered into a 3-year strategic partnership with AU Small Finance Bank (AU SFB) to launch co-branded prepaid cards powered by Zaggle's platform. The cards will automate employee rewards, benefits, expense management and reimbursements for AU SFB's corporate clients. The agreement covers co-branded prepaid payment instruments issuance, program management and distribution. No promoter group interest is involved and it is not a related party transaction.
This is a positive development as it expands Zaggle's footprint in the banking sector through a partnership with a growing small finance bank, potentially adding a new revenue stream over the 3-year contract period. However, the financial value of the contract has not been disclosed, limiting ability to gauge materiality.