Paramotor Digital Technology has formed a co-branded partnership with NSDL Payments Bank to enable nationwide issuance of prepaid cards, enhancing consumer spend management, digital gifting, and rewards programmes in India.
Paramotor Digital Technology has struck a co-branded partnership with NSDL Payments Bank that will allow the issue of prepaid cards across India, in a move aimed at widening its reach in consumer spend management, digital gifting and rewards programmes. The Mumbai-based fintech said the arrangement is intended to support its SpendPro, yayyy.shop and RewardOn platforms.
According to Paramotor, the deal is designed to help the company offer industry-specific prepaid card programmes for businesses and consumers, while leaning on NSDL Payments Bank’s banking infrastructure and regulatory framework. The bank, which was established in 2018, says its focus is on broadening access to digital financial services and supporting financial inclusion.
Rahul Anand, the managing director and promoter of Paramotor Digital Technology, said the partnership marked a milestone for the company and would strengthen its vertically integrated platforms. He said the combination of Paramotor’s technology and NSDL Payments Bank’s banking rails should help businesses launch secure, compliant and scalable payment solutions more quickly.
The agreement also reflects a wider push by both companies to present prepaid payments as a simpler way for enterprises to deliver customised customer experiences. Paramotor describes itself as a programme manager for prepaid payment instruments issued by banks and RBI-licensed issuers, while NSDL Payments Bank positions itself as a technology-led bank focused on trust, reach and everyday digital access.
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