Yes Bank in a partnership with Neokred Technologies has launched ‘Yes Bank Neokred Card’ to facilitate cashless payment. The launch was announced on November 17. They are planning to offer the prepaid cards to Neokred’s corporate partners across various sectors which include health care, financial institutions, Non-Banking Financial Institutions (NBFCs), oil companies, educational institutions, Fast Moving Consumer Goods (FMCG), and infrastructure.
The card offerings are flexible enough to be personalized base on the requirements of corporate-like, seeking salary card or expense card for their employees. ‘Yes Bank Neokred Cards’ is a co-branded prepaid card launched to support digital payments by reducing the usage of cash. In addition to various benefits services such as purchases, payment for utility bills, online shopping, tickets booking and cash withdrawals at ATMs are available to the users; all these facilities can be availed by loading balance in the card
Mr. Rohit Reji, founder and Chief Business Officer of Neokred Technologies claims that the main reason behind fintech and corporate preferring Yes Bank over other banks is that they have been acting as a catalyst in the growth of various fintech over these years.
The technological advancements and innovation capabilities of Yes Bank make them different from their competitors and they have been successful in playing distinctive roles in the emergence of creating a friendly ecosystem for collaborating with fintech and other players, stated by Chief Operating Officer of Yes Bank Anita Pai. She further added they are focussing to strengthen their leadership in digital banking by collaborating and exceeding the expectations of their customers.
Other excellent services provided by co-branded prepaid cards are further transaction processing, the facility to view expenditures with real-time visibility, rewards points, promotional programmes, and easy enrolment without opening a bank account.
The Chief Business Officer of Neokred Technologies said that they are aiming to reach Rs.300 crores of AUM (Assets under Management) to be managed through their platform and there has been a great response from corporate, fintech, and start-ups expressing the desire to launch their own branded product with the lowest Turn Around Time and compliance.