Zaggle rises on co-branded prepaid card deal with Mastercard

Zaggle Prepaid Ocean Services rose 2.32% to Rs 363.15 after the company said it has entered into an agreement with Mastercard Asia/Pacific to launch and promote co-branded domestic prepaid cards on the Mastercard network.

According to the exchange filing, Mastercard will incentivise Zaggle to roll out and market the prepaid card products. The agreement, effective 22 September 2025, will run until 30 September 2030.

The company said the arrangement is a customer business agreement and falls under domestic transactions.

Zaggle Prepaid Ocean Services operates in the business-to-business-to-customer segment, offering spend management solutions and SaaS products such as tax and payroll software. The company has a diversified user base, a broad network of touchpoints, and ranks among the largest issuers of prepaid cards in India through its banking partnerships.

The company's standalone net profit surged 54.8% to Rs 25.88 crore on a 31.4% increase in revenue from operations to Rs 331.49 crore in Q1 FY26 over Q1 FY25.

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