Zeta, the FinTech startup that offers digital employee benefits for tax optimization, announced Tuesday (April 11) has inked a deal with National Payments Corporation of India’s (NPCI) payment platform, RuPay. Zeta said the partnership will widen its payment network and is aimed at pushing for a more inclusive adoption of digital payments in corporate India.
According to Zeta, the collaboration makes Zeta’s meal voucher solution the first ever such solution to run on the Government of India’s endorsed RuPay platform. Zeta noted that with RBL Bank as its banking partner, Zeta’s prepaid card, called the Zeta Super Card, will now also be available on the RuPay platform. The Zeta Super Card includes anti-fraud security measures that lets users make payments across 12 lakh+ outlets across India as well as online stores.
“We are happy to extend RuPay card platform for salaried individuals across sectors through Zeta. This strategic partnership between RBL Bank and Zeta will assist all individuals to spend their salary perquisites through digital means,” said A. P. Hota, MD and CEO of NPCI, in the press release.
Zeta said the company will also launch payments via UPI, Bharat QR Code and Aadhaar Pay modes, which will be available to a larger section of the salaried population with or without access to smartphones and magnetic stripe card machines. With these payment modes, Zeta is aiming to remove the existing barriers to digital payments. Salaried employees across all sectors, including PSUs, can now take advantage of receiving and spending tax benefits digitally even in remote locations, it said in the press release.
“The combined offering of Zeta, RBL and RuPay is built with a sharp focus on enhancing user experience and is aimed at accelerating the cashless movement using technologies made in India, for India. Joining the RuPay platform will further strengthen Zeta’s payment network and will also help us reach corporates as well as PSUs with employees based in remote areas,” said Zeta cofounder and CTO Ramki Gaddipati in the same release.