AU Small Finance Bank (AU SFB) and Zaggle Prepaid Ocean Services Ltd have launched the 'AU Zaggle Co-Branded Retail Credit Card' on both Visa and RuPay networks. According to the joint statement from both companies, the card offers customers flexibility to choose their preferred payment network while providing enhanced digital rewards features. The card enables customers to rack up Zaggle Coins faster when they pay via UPI or tap-to-pay, and then swap those coins for cash back straight into their card using the zagg.money app. The AU Zaggle Credit Card will be distributed through the zagg.money app, website and assisted channels, leveraging Zaggle's growing consumer ecosystem to drive customer acquisition and engagement.
The card features a 'Zagg Coins-to-cashback' proposition that enables cardholders to earn accelerated Zagg Coins across UPI and contactless spends. As reported by the companies, customers can earn higher cashback upon crossing spend milestones, with Zagg Coins convertible into cashback through the zagg.money app. The latest enhancements include up to 8% Zagg Coins on contactless spends for Visa network cardholders and up to 8% Zagg Coins on everyday UPI spends via the zagg.money app for RuPay cardholders. Additionally, the card offers up to 4% Zagg Coins on e-commerce spends and 1% fuel surcharge waiver on fuel transactions, providing comprehensive rewards across multiple spending categories.
The card includes personalized Value Passes that allow customers to curate benefits around their actual spending patterns. These subscription-based Value Passes let customers pick perks based on how they spend, creating a more rewarding and engaging experience. Customers can access exclusive vouchers, airport lounge benefits and category-specific privileges through these passes at their convenience on the zagg.money app. The 'AU Zaggle Credit Card' is built to move with the customer's evolving needs, offering flexibility to activate curated value passes that unlock additional benefits across categories such as groceries and dining, utility bill payments, entertainment, travel and accelerated spend-based rewards.
Yogesh Jain, Chief Operating Officer at AU Small Finance Bank, stated that combining AU's trusted banking strengths with Zaggle's digital rewards and engagement ecosystem introduces a unique proposition enhancing customer engagement with everyday spending needs. Mr. Jain emphasized that at AU Small Finance Bank, customer-centric innovation remains at the core of their approach, with the launch reflecting their commitment to delivering differentiated financial solutions that create tangible value. According to AU's Jain, this collaboration is all about making everyday spending smoother through the innovative rewards structure, with the partnership designed to resonate with India's digitally empowered consumers.
The subscription-based Value Passes allow customers to curate benefits around their actual spending patterns, creating a more rewarding and engaging experience. According to the companies, this innovation has the potential to redefine customer expectations from retail credit cards in India. Zaggle operates as a spend management and SaaS-led fintech platform in the market, bringing its expertise in digital rewards and personalization to enhance the banking experience. The partnership combines AU's robust credit card platform, strong risk management capabilities and customer-centric banking expertise with Zaggle's technology-led rewards and engagement ecosystem, with Zaggle's extensive corporate relationships creating opportunities to offer the card to employees across its corporate network.
