Decentro, an API Integration platform for businesses, today announced the launch of its new prepaid program platform in collaboration with private lender Yes Bank. The program caters to fintech brands, NBFCs, gig economy players,neo-banks, and any consumer or business facing corporate entity by enabling them to launch co-branded prepaid cards. The card, which will use Decentro’s and Yes Bank’s API integration layer, is being launched on the RuPay network.
A business can go live with these programs in a matter of just a few weeks compared to the months-long integration process which is typically the timeline.
On the launch of the program, Rohit Taneja, Founder & CEO, Decentro, said, “We are committed to providing world-class product experience to our customers and enable a transformative fintech journey that they can offer to their customers. We are happy to join hands with like-minded partners like Yes Bank to enable this journey of creating value for corporates and the larger ecosystem in India. Any business can now launch a co-branded prepaid card and give their customers a chance to spend easily with various merchants in the offline and online world.”
These cards will be assisting merchants in streamlining their customer’s expenses, track their spending patterns, enable personal finance management solutions, and help them seamlessly manage and reload their cards. It also adds a new revenue stream for the businesses launching the card, in the form of interchange commission whenever anyone makes a transaction with these prepaid cards.
Anita Pai, Chief Operating Officer, YES BANK, said, “We are pleased to partner with Decentro on this unique technology-driven project – in line with our strategy to nurture open banking, strengthen the payments ecosystem and create commercial models that will provide value for our clients. The partnership will enable faster go-to-market for businesses to launch prepaid payment instruments, thereby delivering the convenience of digital-first solutions to more consumers. We are intensifying our efforts to deliver a range of solutions that add value to customers and push the boundaries through strategic partnerships across the spectrum.”
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