Fintech start-up Zeta has tied up with National Payments Corporation of India (NPCI) payment platform - RuPay. The partnership will widen Zeta’s payment network and push for a more inclusive adoption of digital payments in corporate India. This collaboration makes Zeta’s meal voucher solution the first ever such solution to run on Government of India endorsed RuPay platform.
With RBL Bank as its banking partner, Zeta’s revolutionary pre-paid card called the Zeta Super Card will now also be available on the RuPay platform. The Zeta Super Card, includes robust anti-fraud security measures that lets users make payments across 12 lakh+ outlets across India as well as online stores.
Referring to the partnership with RuPay, A.P. Hota, MD & CEO, NPCI said, “We are happy to extend RuPay card platform for salaried individuals across sectors through Zeta. This strategic partnership between RBL Bank and Zeta will assist all individuals to spend their salary perquisites through digital means.”
Taking forward its commitment towards the Digital India movement, the company will also launch payments via UPI, Bharat QR Code and Aadhaar Pay modes, which will be available to a larger section of the salaried population with or without access to smartphones and magnetic stripe card machines.
With these payment modes, Zeta intends to remove the existing barriers to digital payments. Salaried employees across all sectors, including PSUs can now take advantage of receiving and spending tax benefits digitally even in remote locations.
With RuPay’s reach of 12,20,763 enabled POS terminals, Zeta will now have a greater combined acceptance across the country, even while bringing small towns and remote areas into their net.
With the RuPay tie-up, Zeta Super Card users now can also get access to exclusive privileges like:
• Airport lounge access
• Cashback on utility bill payments
• Personal accident insurance cover
• Personal concierge services
Zeta has been disrupting the meal voucher industry by leveraging technology to ease the process of issuing, receiving and spending the prepaid instrument for meals. Recent steps proposed by the Reserve Bank of India are also beneficial for overall industry growth.
With the recent RBI draft proposal on issuance of prepaid meal instruments that says meal vouchers in paper format will not be accepted beyond December 31, 2017, the company is busy helping both public and private sector companies make the move easily.
Within a short span of one year, Zeta has accumulated a client base of over 650 corporates spread across India and has over 100,000 end users.