Zaggle Prepaid Ocean Services Ltd, a leading player in the corporate financial solutions space, has recently announced two strategic partnerships aimed at enhancing its market presence and expanding its offerings. The company has signed an agreement with HDFC Bank to provide corporate credit cards and partnered with Mastercard to distribute its SaaS and payment solutions.
Zaggle Prepaid Ocean Services Ltd. has signed a significant agreement with HDFC Bank Ltd. to offer corporate credit cards across various industries. As per the agreement, Zaggle is required to execute the contract within three years. This partnership aims to strengthen Zaggle’s presence in the corporate sector by delivering customised financial solutions to its clientele.
The collaboration was disclosed through an exchange filing on Monday and is expected to provide a competitive edge to Zaggle in the rapidly evolving financial services sector. By leveraging HDFC Bank’s established network and Zaggle’s innovative offerings, this partnership promises mutual benefits for both entities and their corporate customers.
In another major development, Zaggle has entered into a seven-year agreement with Mastercard for product distribution. Avinash Godkhindi, the managing director and CEO of Zaggle, shared the details in an interview with NDTV Profit. Under this agreement, Mastercard will promote Zaggle’s SaaS platform along with its payment and card products to corporate clients and other entities within its ecosystem.
Highlighting the importance of this collaboration, Godkhindi mentioned that Mastercard conducted a comprehensive evaluation of various spending management companies before selecting Zaggle. He emphasised that this agreement is a “great win” for Zaggle and holds immense value for both short-term and long-term growth.
As of December 10, 11:17 AM, shares of Zaggle Prepaid Ocean Services are trading at ₹569.00 per share, up 3.17% from its previous day’s closing price on NSE. Over the last month, the stock has seen a surge of 31.18%. The stock has a 52-week high and 52-week low of ₹207.35 and ₹574.80 respectively.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 10, 2024, 1:40 PM IST
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