The program caters to fintech brands, NBFCs, gig economy players, neobanks, and any consumer or business facing corporate entity by enabling them to launch co-branded prepaid cards. The card, which will use Decentro’s and Yes Bank’s API integration layer, is being launched on the RuPay Network.
These cards will help merchants to streamline their customer’s expenses, track their spending patterns, enable personal finance management solutions, and help them manage and reload their cards. It also adds a new revenue stream for the businesses launching the card, in the form of interchange commission whenever anyone makes a transaction with these prepaid cards.
The first partner company for this launch is a B2B payments network in India that lets small businesses collect online payments from other businesses. Using a partner NBFC that is willing to provide credit to these small merchants, the prepaid card will act as a credit instrument to facilitate, track, and manage the spends.