Zaggle launches new wearable product in partnership with YES BANK and NPCI

By Leandra Monteiro

Zaggle announced the launch of a key fob called the Zakey Yespay RuPay ON-THE-GO, which is part of a new range of on-the-go wearables, in partnership with YES BANK on the RuPay network, powered by National Payments Corporation of India (NPCI).

The Zakey Yespay RuPay ON-THE-GO wearable is a prepaid device formulated in such a way that it can be easily adapted into the daily lives of the wearers. The key fob wearable enables fast contactless payments at cafeterias, where time is of essence. It is an easy tap and pay option for paying fares at transport systems accepting debit card payments.

“Zaggle has been at the forefront of expanding its product range to cater to the vast need of customers across industries by offering innovation-led solutions through its partnerships. The role of wearables is evolving and the way we think about wearables will change as their utility and experience evolve; besides, wearables are preferred by the new-age, tech-savvy millennials. With the partnership with YES BANK and NPCI, we further aim to make inroads to tap the ever-evolving gifting industry and become a one-stop solution to all spend management requirements of our customers,” said Avinash Godkhindi, MD and CEO, Zaggle.

The key fob is equipped with the following features:

• Make cashless and contactless payments digitally
• It helps the wearer/user track transactions on a real-time basis on the Zaggle App
• The user can lock/unlock the key fob device; if required, the device can be permanently blocked incase the wearable is lost
• It allows the user to enable/disable online transactions, POS transactions, set POS PIN, among others using the Zaggle App
• No PIN is required on the Tap-and-go feature for transactions up to Rs. 5,000

Speaking on the partnership, Anita Pai, COO, YES BANK, said, “We are thrilled to partner with Zaggle and NPCI to launch the Zaggle Yespay RuPay ON-THE-GO key fob wearable for the rapidly evolving Indian customer. YES BANK has been a pioneer when it comes to state-of-the-art digital payment initiatives. This partnership is in line with our commitment towards providing a secure and robust infrastructure while building a seamless payments ecosystem. We are confident that the corporate community will accept this form of prepaid wearables very well and make them a part of their daily accessorising needs.”

Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, NPCI said, “We are delighted to partner with Zaggle and YES BANK to launch on-the-go wearable on the robust RuPay network. As digitisation and cashless solutions grow, the innovations that power it will continue to refine and further empower customers to carry out their day-to-day transactions securely and seamlessly. Additionally, we are confident that this innovation will be a great value proposition for corporates and will set a new standard in the gifting solutions segment. This one-of-its-kind offering is enabled with cutting edge technology and is set to redefine the way contactless transactions will be made in the future.”