Yes Bank, India's fifth largest private sector bank, announced collaboration with Zaggle for issuance of its prepaid instrument on the MasterCard Platform for corporate consumers across India.
Yes Bank, through this partnership, will supplement its offering in the highly attractive prepaid cards (Reloadable card, Gift card and Store Value card) space and aim at creating business opportunity with shopping and payment channels that include retail stores, mail order, and ecommerce platforms.
Ritesh Pai, senior president and country head, digital banking at Yes Bank stated, "We at Yes Bank are confident that cashless payment solutions is the way ahead in transforming financial services industry. With this partnership, Yes Bank expects to reach out to 10 million consumers and more than 10,000 corporate."
Shares of the company gained Rs 9.3, or 1.44%, to settle at Rs 653.95. The total volume of shares traded was 339,585 at the BSE (Thursday).