Yes Bank partners Neokred to launch co-branded Prepaid Card

Chandigarh: YES BANK in partnership with Neokred Technologies has launched ‘YES BANK Neokred Card’, a co-branded prepaid card, encouraging cashless payments. The card offerings can be personalized to suit the requirements of corporates seeking salary cards or expense cards for their employees. The prepaid card will be offered to Neokred’s corporate partners across various sectors including - HealthCare, Financial Institutions, NBFCs, Oil companies, Educational Institutions, FMCG and Infrastructure.
 
The card can be simply loaded with balance and used for spends such as purchases, payment for utility bills, online shopping, ticket bookings and cash withdrawal at ATMs. Neokred offers a wide array of customised benefits ranging from cashback on spends, rewards, instant discounts, Buy 1 Get 1 offers, dining experience offers and Airport lounge access, among others.
 
Speaking on the partnership, Anita Pai, Chief Operating Officer, YES BANK, said, “We are pleased to partner with Neokred to provide a unique tech-enabled platform for partners to launch their customised product offerings quickly. The Bank’s technology and innovation capabilities are a key differentiator and we have played a distinctive role in the emergence of creating a friendly ecosystem for collaboration with fintechs and other players. We remain focused on further strengthening our leadership in digital banking through collaborations and exceed the expectations of our customers.”
 
Speaking on the launch, Rohith Reji, Founder & Chief Business Officer, Neokred, said, “YES BANK has been instrumental in the growth of various fintechs over the years - giving a strong reason why Fintechs and Corporates prefer them over other banks. We are projecting to reach INR 300 crore of AUM to be managed via our platform and there has been a lot of noise from the corporates, startups and fintechs expressing their desire to launch their own branded products with the lowest possible TATS and compliance.” 
 
Key benefits of YES BANK issued Neokred Card:
 
-                 Easy enrolment without the need to open a bank account
-                 Faster transaction processing through secure security platforms
-                 Provides an overview of business expenditures with real-time visibility
-                 Incentivize with rewards and promotional programs
-                 Define card usage like meal, fuel and travel among others
-                 Instant discount offers on 25000+ PAN India merchants in Dining, Lifestyle and Travel among others
-                 Airport Lounge access
-                 Reduces cash transactions and eliminates the hassles of loose change for customers
-                 Delivers a simple and efficient payment solution for customers on general purpose reloadable cards
-                 Card can be used to make purchases, pay utility bills, online shopping, ticket bookings and cash withdrawal at ATMs
-                 Convenient as user get access to Mobile application for checking balance and last transaction