The National Payments Corporation of India’s (NPCI) flagship product, RuPay, and CARD91, a worldwide payment infrastructure powering B2B payments, have established a strategic agreement (NPCI). Through this collaboration, CARD91 will develop a card management system that will enable businesses to introduce a range of co-branded card products and to keep track of a real-time dashboard to produce insights. As a result, CARD91 will be able to increase its market share in the Indian payments industry.
About the CARD91 Collaboration:
- Through its collaboration with YES BANK and RuPay, CARD91 will be able to offer a variety of card management and security tools to businesses of all sizes and in a variety of industries.
- Now that companies can select from co-branded or unbranded card devices, they have a creative means of addressing a problem.
- To assist organisations in launching co-branded cards and streamlining payments, CARD91 is a plug-and-play Payment Issuance Infrastructure.
- The organisation offers a smooth procedure for the introduction of co-branded payment cards by handling compliance, legislation, infrastructure, lending, issuance, and customer care.
- CARD91 reduces launch time, cuts expenses, and offers real-time information on card instruments.
CARD91 for Businesses:
- Businesses may track their payment flows using CARD91, from account onboarding to transaction processing and data reconciliation.
- In addition to supporting card-based lending, banks can give their customers access to modern payment systems.
- Co-branded instruments are another topic of conversation between the corporation and other companies.
- CARD91, situated in Bengaluru with locations in Mumbai and Delhi, is positioned to dominate the market for payment infrastructure globally.
- Recently, CARD91 came out of stealth mode and secured a $13 million Pre-Series A round of funding.
- The technological startup was established in August 2020 by Ajay Pandey, Kush Srivastava, and Vineet Saxena.
- The three of them have all launched profitable businesses in the past, such as Myntra, Mastiff, and Quiklo.
Important Takeaway for All Competitive Exams:
- Yes Bank Founder: Rana Kapoor
- Yes Bank Chairman: Sunil Mehta
- Yes Bank MD and CEO: Prashant Kumar