Mumbai: AU Small Finance Bank (AU SFB), India's largest Small Finance Bank
and among the first in over a decade to receive the Reserve Bank of India's in-principle
approval to transition into a Universal Bank, together with Zaggle Prepaid
Ocean Services Limited (Zaggle), a leading spend management and SaaS-led
fintech platform, today announced the launch of the AU Zaggle Co-Branded
Retail Credit Card – a differentiated offering that combines enhanced
rewards, customizable benefits and a seamless digital experience for today's
evolving consumers.
The
Card introduces an innovative Zagg Coins-to-cashback proposition,
enabling cardholders to earn accelerated Zagg Coins across UPI and contactless
spends, higher cashback upon crossing spend milestones and much more. Available
on both Visa and RuPay networks, the card offers customers the
flexibility to choose their preferred payment network.
Key offerings include:
- Up
to 8% Zagg Coins on contactless payments using the Visa card
- Up
to 8% Zagg Coins on everyday UPI transactions using the RuPay card
through the zagg.money
app.
- Up
to 4% Zagg Coins on e-commerce spends
- 1%
Fuel surcharge waiver on fuel transactions
Zagg
Coins can be converted into cashback through the zagg.money app, with the amount directly credited to the
cardholder's credit card account.
The
AU Zaggle Credit Card is built to move with the customer’s evolving
needs offering customers the 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. Customers can also access exclusive vouchers, airport lounge benefits
and category-specific privileges through these passes at their convenience on zagg.money app.
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. Zaggle's extensive
corporate relationships further create an opportunity to offer the card to
employees across its corporate network, supported by a compelling rewards
proposition and attractive EMI offerings.
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.
Commenting
on the launch, Mr. Yogesh Jain, Chief Operating Officer, AU Small Finance
Bank, said, “At AU Small Finance Bank, customer-centric innovation
remains at the core of our approach. The launch of the AU Zaggle Co-Branded Retail
Credit Card reflects our commitment to delivering differentiated financial
solutions that create tangible value. By combining AU's trusted banking
strengths with Zaggle's digital rewards and engagement ecosystem, we are
introducing a unique proposition that enhances the way customers engage with
their everyday spending needs. We are confident this partnership will resonate
with India's digitally empowered consumers."
Dr. Raj P. Narayanam, Founder & Executive Chairman, Zaggle, said: "The
future of credit cards lies in personalization, flexibility and relevance.
Consumers today expect financial products to adapt to their lifestyle rather
than the other way around. Through our partnership with AU Small Finance Bank,
we are introducing a differentiated proposition that combines the strength of a
robust credit platform with Zaggle's technology-led engagement ecosystem. The
subscription-based Value Passes allow customers to curate benefits
around how they actually spend, creating a more rewarding and engaging
experience. We believe this innovation has the potential to redefine customer
expectations from retail credit cards in India."
The
launch further strengthens Zaggle's presence in the consumer financial services
ecosystem and expands its strategy of building engagement-led financial
products across cards, rewards, benefits and payments. For AU SFB, the
partnership enhances its retail credit card portfolio with an innovative
offering designed to deepen customer engagement and drive higher wallet share
in a rapidly evolving payments landscape.