Zaggle Prepaid Ocean Services Enters 3-Year Deal with Federal Bank for Employee Expense Platform

Zaggle Prepaid Ocean Services Limited has entered into a 3-year agreement with The Federal Bank Limited to offer employee expense management and benefits solutions. The disclosure was made on April 17, 2026, through stock exchange filing.  

The contract has been classified as a domestic agreement, with both entities based in India. The nature of the arrangement is defined as a service agreement rather than a one-time order.  

Scope of Services 

As part of the deal, Zaggle will provide its “Zaggle Save” platform to Federal Bank. The platform is used for managing employee expenses and administering benefits such as reimbursements and corporate spends.  

The offering is structured to bring expense tracking and employee benefit distribution under a single system. It is typically used by organisations to manage internal spending processes in a more standardised manner. 

Contract Structure 

The filing does not specify the monetary value or size of the agreement. However, it outlines the scope in terms of service delivery, with Zaggle responsible for providing the platform over the agreed period.  

The agreement will be executed over 3 years, indicating a medium-term engagement between the 2 entities.  

Governance and Disclosures 

Zaggle has stated that the agreement does not involve any related party transactions. It has also confirmed that its promoters or group companies do not have any interest in The Federal Bank Limited.  

The disclosure was made under SEBI’s Listing Obligations and Disclosure Requirements Regulations, along with the applicable master circular issued earlier in 2026.  

Read More: Zaggle Prepaid Ocean Services Share Price in Focus; Partners with Generali Central Insurance! 

Zaggle Prepaid Ocean Services Share Price Performance  

As of April 17, 2026, 1:57 pm, Zaggle Prepaid Ocean Services Ltd share price was trading at ₹262.50, down 0.62% from the previous closing price. 

Conclusion 

The agreement formalises Zaggle’s engagement with a banking client for its expense management and benefits platform. The absence of disclosed financial terms suggests the filing is limited to operational details of the contract. 

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