Jaipur, India, April 21, 2020- Leading forex and payment
solutions provider Transcorp International Ltd, a 25 years old BSE-listed
company, announced the receipt of RBI’s nod for entering into co-branding
arrangements for Prepaid Instruments that can be used for in over 35 lac stores
and online gateways. Transcorp is proud to
be the one of the first non-bank companies to obtain this authorization from
RBI, which a testament to its commitment of serving Indian citizens and
companies alike. Transcorp has leveraged
its PPI license (which is the same license held by leading mobile-wallet
operators in India) to operate.
solutions provider Transcorp International Ltd, a 25 years old BSE-listed
company, announced the receipt of RBI’s nod for entering into co-branding
arrangements for Prepaid Instruments that can be used for in over 35 lac stores
and online gateways. Transcorp is proud to
be the one of the first non-bank companies to obtain this authorization from
RBI, which a testament to its commitment of serving Indian citizens and
companies alike. Transcorp has leveraged
its PPI license (which is the same license held by leading mobile-wallet
operators in India) to operate.
In line with the Government’s initiatives of cashless
India and to promote safe transactions by eliminating the handling of currency,
Transcorp has launched Multi-Wallet Prepaid cards which has become the gold
standard for expenses, incentives and reimbursements across business houses.
India and to promote safe transactions by eliminating the handling of currency,
Transcorp has launched Multi-Wallet Prepaid cards which has become the gold
standard for expenses, incentives and reimbursements across business houses.
During the present COVID-19 crisis where it is not safe
to handle cash, Prepaid Cards, including contactless, provide a safe mode of
payment. The contactless variant of the card is also recommended globally by
experts as a safer option to transact.
to handle cash, Prepaid Cards, including contactless, provide a safe mode of
payment. The contactless variant of the card is also recommended globally by
experts as a safer option to transact.
On the occasion, Amitava Ghosh, Chief Executive
Officer, Transcorp said, “These
cards can replace cash payment for all value transactions up to Rs. 1,00,000. Organizations
that need to disburse payments like wages, reimbursements, incentives and other
recurring payments to their employees or beneficiaries can seamlessly do so. This facilitates the
accounting department to manage expenses by not having to check every individual
bill; eliminating cash as a medium of
paying for company expenses. Organizations have experienced cost reductions and
transparency.
Officer, Transcorp said, “These
cards can replace cash payment for all value transactions up to Rs. 1,00,000. Organizations
that need to disburse payments like wages, reimbursements, incentives and other
recurring payments to their employees or beneficiaries can seamlessly do so. This facilitates the
accounting department to manage expenses by not having to check every individual
bill; eliminating cash as a medium of
paying for company expenses. Organizations have experienced cost reductions and
transparency.
Transcorp cards are highly customizable and, with the
approval of RBI, can now be co-branded with a partner organization’s logo; as
well as restrict certain merchant categories as per the client’s requirements.
approval of RBI, can now be co-branded with a partner organization’s logo; as
well as restrict certain merchant categories as per the client’s requirements.
Ayan Agarwal, Vice President-Payment Systems, Transcorp
said, “Partners have devised clever business models around prepaid cards and
have added new lines of revenue and loyal customers by sharing the benefits of
the interchange income that is earned on every spend. By providing digital
& physical cards, multiple variants and custom solutions, we are able to
get partners live even during these testing times of a global pandemic. There
is a tremendous demand for cards & wallets in the financial world and we
are evaluating each partnership in detail to meet our strict norms. We are in
advanced stages of integrating products like UPI and Fastag with National
Payments Corporation of India (NPCI).”
said, “Partners have devised clever business models around prepaid cards and
have added new lines of revenue and loyal customers by sharing the benefits of
the interchange income that is earned on every spend. By providing digital
& physical cards, multiple variants and custom solutions, we are able to
get partners live even during these testing times of a global pandemic. There
is a tremendous demand for cards & wallets in the financial world and we
are evaluating each partnership in detail to meet our strict norms. We are in
advanced stages of integrating products like UPI and Fastag with National
Payments Corporation of India (NPCI).”
These cards will be available at all Transcorp branches,
through select agents and on order. They can be delivered to one’s office or
home address even during the lockdown.
through select agents and on order. They can be delivered to one’s office or
home address even during the lockdown.
Transcorp International Limited is open for business
today as it has been for the last 25 years – we are always committed to giving
quality services to our customers and partners. Even the present time of lock
down the company is operating and providing its following services to its
customers to help the nation and its citizens:
today as it has been for the last 25 years – we are always committed to giving
quality services to our customers and partners. Even the present time of lock
down the company is operating and providing its following services to its
customers to help the nation and its citizens:
1.
Outward
Remittances to Indians and families stuck abroad
Outward
Remittances to Indians and families stuck abroad
2.
Domestic
Money Transfers for migrant workers to send money to relatives
Domestic
Money Transfers for migrant workers to send money to relatives
3.
Aadhar
Enabled Payment Services for families of migrant workers to receive cash
Aadhar
Enabled Payment Services for families of migrant workers to receive cash
4.
Insurance
to protect lives and assets during these difficult times
Insurance
to protect lives and assets during these difficult times
5.
Pre-Paid payment
solutions for easy access to funds and reduced currency handling
Pre-Paid payment
solutions for easy access to funds and reduced currency handling
6.
Travel services
to those who need emergency assistance via subsidiary Ritco Travels
Travel services
to those who need emergency assistance via subsidiary Ritco Travels
