Shares of Zaggle Prepaid Ocean Services Ltd surged 5% to reach a day’s high of Rs 373.60 on 23rd September, after the company announced it had agreed with Mastercard Asia Pacific Pte Ltd to launch and promote co-branded domestic prepaid cards on the Mastercard network.

According to the company’s filing, the agreement with Mastercard came into effect on 22nd September, 2025, and will remain valid until 30th September, 2030. Mastercard will incentivise Zaggle to boost the adoption and usage of the co-branded cards.

The deal, structured as a Customer Business Agreement, aims to expand Zaggle’s domestic prepaid card offerings. The company clarified that it is not a related-party transaction.

The partnership is expected to strengthen Zaggle’s position in the prepaid card market by leveraging Mastercard’s global network and expertise, while broadening customer access to digital payment solutions in India.

Separately, on Monday, AU Small Finance Bank (AU SFB) partnered with Zaggle to launch new co-branded retail credit and prepaid cards. The offering includes Third-Party Application Provider (TPAP) integration and an AI-driven recommendation engine to improve the cardholder experience.

The collaboration also targets corporate clients, with AU SFB providing underwriting support and Zaggle onboarding eligible businesses. Corporate customers will additionally get access to Zaggle’s Zatix SaaS platform.

At 2:58 PM, the shares of Zaggle were trading 1.52% higher at Rs 360.75 on NSE.

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