Fintech startup Zaggle partners with Visa to launch innovative payment solutions for SMEs and startups, to improve productivity, reduce costs & get access to faster credit through a card which would have both inbuilt forex & prepaid.
Raj N. Phani, Founder of Zaggle told ET Digital, “For the next three years, we plan to target around 50,000 SMEs, which would include startups as well. We aim to achieve Rs 14,000-15,000 crore of transactions annually.”
Phani claims that ‘Founders Card’ is a first-of-its-kind single payment instrument, which can be used to optimize working capital and digitally manage all the expenses of an SME/Startup. The credit card will be available in the form of domestic pre-paid, forex pre-paid and corporate credit and various other benefits that really matter to the startup founders The features of the card include managing business expenses of CEOs and senior management, managing their international travel expenses as well as petty cash management like fuel, meal expenses etc. More so, the Founders card will have other benefits such as discounts on hotels, tickets, cash back incentives, lounge access and so on. Zaggle also has a partner network with companies such as WeWork, MakemyTrip, AWS etc to bring out differentiated value propositions for startups/SMEs. “As we are waiting for the lockdown to finish and all services to get back to normal, we are hoping to launch the ‘Founders Card’ by August 15,” he said.