Business India

How is Zaggle a B2B FinTech is working on New Innovations in this Pandemic


This coronavirus pandemic is a life changing threat to all of us with a terrible toll on the global economy.

This outbreak of deadly coronavirus led to social distancing, people ditched cash transaction for the digital mode. Many businesses have collapsed but tech and digital companies along with FinTech are mostly prepared to overcome such circumstances. On one hand many businesses have shut down, Work from Home is becoming the new norm as per the government orders. This paradigm shift to a remote working environment has given a boom to the digital space including FinTech.

Zaggle a Hyderabad based FinTech company quickly adopted to Virtual Cards instead of Physical Cards and seen a 7x Growth in this pandemic. Zaggle has seen a multifold increase in its sales for Virtual Gift Cards in the present scenario.

Lockdown has severely restricted the procurement and distribution of Physical card and the only alternative being Virtual Cards. Zaggle customers are finding the Zaggle Virtual Cards the best way to reward and motivate their stakeholders be it Employees, Channel Partners or Customers.

Delivery of Virtual Cards is instantaneous as these cards are sent directly to the recipient’s email id as a password protected file and hence secure and are not lost. These cards can be used to transact across online ecommerce portals and for multiple purchases.

Zaggle has also partnered with Visa to create SME focused Innovative Fin Tech Solution like Founder Card. 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 card will be available in different form factors such as virtual card, physical card, e-card, on mobile etc that will be issued to founders. 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 Founders of start-up companies. 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 Strong Partner Network with companies such as WeWork, MakeMyTrip, AWS etc to bring out differentiated value propositions for Start-ups/SMEs-focused products.

Zaggle is an award-winning FinTech company Digitizing Spends to Unlock Value and Drive Business Growth. Zaggle uses Deep Tech and Artificial Intelligence to provide Platform Solutions to Businesses for Expense Management & Employee Reimbursements as well as for Rewards & Recognition. Zaggle deploys cutting edge technologies AI (Artificial Intelligence), ML (Machine Learning) and OCR (Optical Character Recognition) in providing seamless experience to businesses and users. Zaggle works currently with three banks RBL Bank, IndusInd and YES Bank and works closely with VISA, RuPay and MasterCard Networks to craft these solutions and to constantly innovate to bring value to its users.

The company was founded in 2011 by Raj N Phani, a serial entrepreneur and seed investor.

The word ‘Zaggle’ stands as an antidote to ‘Haggle’. As a founder of the brand merchandising and corporate gifting company eYantra, Raj realized that customers were looking for choice and flexibility. When corporates started approaching him for a solution, he decided to tackle it with a platform on which the merchants, corporates and consumers could seamlessly interact – and this is how Zaggle was born. Zaggle has seen a growth of 100% in the present time and are happy to offer this to the existing 3.5 million users and 3500 corporates.

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