Zaggle Prepaid Ocean Signs Co-Branding Deal with Mastercard; Shares Inch Higher

Mumbai, September 23, 2025 – Zaggle Prepaid Ocean Services Limited (NSE: ZAGGLE, BSE: 543985) stock jumped over 3% in the morning trade following the announcement that it has entered into a contractual agreement with Mastercard Asia/Pacific Pte. Ltd, effective September 22, 2025, for launching and marketing co-branded domestic prepaid cards. According to the terms of the agreement, Mastercard shall make incentive payments to Zaggle for promoting and acquiring customers, and the agreement is effective up to September 30, 2030.

Zaggle Prepaid Ocean Services Limited, listed on NSE and BSE since September 2023, operates in the IT-enabled services sector, providing fintech solutions across expense management, rewards, and prepaid card programs.

Recent Stock Performance

On 23 September 2025, 11:50 am IST, Zaggle shares were trading at around ₹358.70, up by around 0.94% for the day. Shares had earlier in the session reached a high of around ₹373.60 and a low of around ₹359.05. Close of yesterday was ₹355.35.

Strategic Implications

The Mastercard agreement is likely to enhance Zaggle’s presence in the prepaid card segment and expand its reach among local consumers. Considering Zaggle’s current presence in spend-management services for businesses, the step can position its addressable market in consumer prepaid cards as well. The stock’s upbeat response indicates investors’ confidence in Zaggle’s potential to use Mastercard’s network and brand to amplify its prepaid business.

Management Commentary

Avinash Ramesh Godkhindi, Managing Director & CEO of Zaggle, confirmed the partnership, stating that the agreement strengthens the company’s fintech offerings and expands its presence in the prepaid card market.

REF: https://nsearchives.nseindia.com/corporate/ZAGGLE_23092025085207_SEINTIMATION_MASTERCARD.pdf

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