Open-loop Cobranded Rupay Prepaid Cards will be Issued
FinTech BizNews Service
Mumbai, March 6, 2024: AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), digital payments brand Ongo has partnered with Patanjali Ayurved Limited, India’s leading conglomerate to launch open-loop Cobranded Prepaid Cards.
These prepaid cards can be accepted on any device on Rupay network pan India. Acharya Balkrishna, Co-founder and MD of Patanjali Ayurved Ltd. said, “We are delighted to provide an elevated shopping experience to our esteemed clientele by introducing the open-loop cobranded cards in collaboration with Ongo. With Patanjali-Ongo cards, our valued customers will gain access to exclusive benefits spanning a diverse range of Patanjali's products and services across Patanjali stores. Additionally, with these cards they can now experience an unparalleled convenience at all RuPay acceptance points across the country.”
Mr. Ravi B Goyal, Chairman & MD, AGS Transact Technologies Limited said, “We are thrilled to partner with Patanjali Ayurved, country’s leading conglomerate to introduce open-loop cobranded prepaid cards on our Ongo platform. Through this partnership, we aim to provide unparalleled convenience to Patanjali's extensive customer base, ensuring every transaction is enriched with seamless efficiency and ease. Further, this alliance reaffirms our commitment to transform customer’s payment experience by empowering them with convenient solutions that cater to their dynamic lifestyles." Patanajali-Ongo cobranded card users will earn rewards on purchasing Patanjali products through these cards. Additionally, they can use these cards for various other payments including shopping, dining, fuelling and ecommerce. Further, this card comes with NCMC feature which will allow them to seamlessly use transit services such as NCMC enabled Metro, Buses, Toll and Parking across the country. The enrolment for this can be done by customers via registration on the Ongo app available on Playstore and App store or by visiting the nearest Patanjali stores. Ongo has a PPI license from the RBI enabling it to issue open-loop prepaid instruments like prepaid cards and wallets.
