AU Small Finance Bank (AU SFB), India’s largest small finance bank and the first in a decade to receive the in-principle approval for transitioning into a Universal Bank, today announced a strategic partnership with Zaggle Prepaid Ocean Services Limited, India’s leading spend management company. The alliance aims to launch co-branded retail credit and prepaid cards program, equipped with a unique Third-Party Application Provider (TPAP) integration and a personalized recommendation engine.
The new retail credit card is designed to give customers more value through smart spending tips, easy-to-earn rewards and seamless, tech-enabled experiences, making everyday spending more rewarding and effortless.
Beyond the retail credit card launch, AU SFB and Zaggle will broaden their partnership to
develop a comprehensive commercial credit card portfolio. AU SFB will leverage its underwriting expertise, while Zaggle will utilize its extensive enterprise network to onboard
eligible corporate customers. These customers will gain access to Zatix, Zaggle’s centralized SaaS platform that provides real-time visibility, complete control and actionable insights into corporate spending.
The partnership also includes a co-branded prepaid card program for corporate customers,
supporting tax-saving benefits through multiple wallets across categories like fuels, meals
and gifts. With this program, corporates can manage expenses & reimbursement tracking
and access support through the Zaggle mobile app. The idea is to empower both AU SFB
and its corporate customers to efficiently manage and scale their commercial card programs.
“We are excited to partner with AU Bank to foray into Retail Credit Card business. The
partnership is meant to deliver innovative, technology-led payment solutions that cater to
both retail and corporate customers,” said Dr. Raj P Narayanam, Founder & Executive Chairman, Zaggle. “With integrated platforms like Zatix and SAVE, we’re empowering businesses with greater spend visibility, enhanced compliance and improved operational efficiency across all functions.”
Mr. Sanjay Agarwal, Founder, MD & CEO, AU Small Finance Bank said, “This partnership aligns perfectly with our vision of empowering both businesses and consumers
through smarter, more efficient financial solutions. Zaggle’s strong SaaS capabilities and
extensive enterprise network complement our credit offerings, and we look forward to scaling
this collaboration to new heights.”
In addition, Zaggle will introduce AU SFB with its southern regional corporate/connect as
primary banking franchise. With this multi-phase rollout, Zaggle and AU SFB are poised to
deliver a powerful suite of financial products and platforms, tailored for India’s dynamic
consumer and corporate ecosystem.
Key Highlights:
Retail Credit Cards with TPAP integration and AI-powered recommendation engine
Corporate Credit Cards supported by Zaggle’s enterprise acquisition and Zatix SaaS
platform
Multi-Wallet Prepaid Cards for tax savings, fully managed via the Zaggle app
Zaggle SAVEto automate employee expense reporting and reimbursements