Fintech and enterprise technology firm Paramotor Digital Technology announced on Monday that it has entered into a co-branded partnership agreement with NSDL Payments Bank to issue prepaid cards across India. According to reports from The Hindu BusinessLine, Business Standard and PTI, the partnership will support Paramotor's consumer spend management, digital gifting and rewards and loyalty platforms, including SpendPro, Yayyy.shop and RewardOn. For NSDL Payments Bank, this arrangement reflects a commitment to making innovative prepaid payment solutions more accessible through a trusted partnership. By combining their banking infrastructure with Paramotor's technology capabilities, both organisations aim to help businesses offer secure and customised prepaid card programmes that deliver a seamless payment experience for their customers.
The agreement is expected to enable Paramotor to offer industry-specific prepaid card programmes for enterprises and consumers across various use cases, as reported by The Hindu BusinessLine, Business Standard and PTI. The partnership will leverage NSDL Payments Bank's prepaid card issuance services, regulatory framework, and banking infrastructure to support the launch of secure, RBI-compliant prepaid payment solutions across payment networks. The co-branded agreement will support the expansion of Paramotor's business, strengthening its capabilities across consumer spend management, digital gifting and rewards and loyalty offerings. The partnership agreement reflects both organisations' commitment to advancing financial inclusion and enabling enterprises to deliver seamless payment experiences through a technology-led architecture.
Rahul Anand, Promoter and Managing Director of Paramotor Digital Technology, stated that the agreement will strengthen the company's vertically integrated platforms, according to The Hindu BusinessLine, Business Standard and PTI. The partnership represents a strategic move to expand Paramotor's financial services offerings through NSDL Payments Bank's established banking infrastructure. The agreement is expected to strengthen Paramotor's value proposition and enable it to offer diverse, industry-specific prepaid card programmes for enterprises and consumers across a wide range of use cases. As per Paramotor's latest announcement, the partnership will enhance their proposition that enables businesses to launch secure, compliant, and scalable payment solutions while reducing the time and effort required for ground-up development and implementation.
In May, Paramotor Digital Technology filed draft papers with markets regulator Sebi through confidential route to raise funds through an initial public offering (IPO), as reported by The Hindu BusinessLine, Business Standard and PTI. The IPO filing was completed in May 2025, positioning the company for potential public market entry. The partnership with NSDL Payments Bank is expected to further strengthen Paramotor's position as it approaches its public market debut, leveraging the banking partnership to enhance its financial services capabilities and market reach.
