Visa formalized a seven-year growth agreement with Indian fintech company Zaggle Prepaid Ocean Services Ltd. The partnership aims to drive the adoption of co-branded domestic prepaid cards.
These cards will operate across the extensive Visa payment network throughout India. Visa will provide incentives to Zaggle to develop and aggressively market the new prepaid offerings.
This move supports Zaggle's broader expansion strategy and complements its existing partnership with Mastercard. For Visa, the deal strengthens its foothold in the rapidly growing Indian digital payments ecosystem.
Market reaction for Zaggle's shares was minimal. The stock reported a slight dip of 1.26% on December 31.