PNB partners with Zaggle to launch eco-friendly co-branded twin credit cards
New Delhi, June 19
Punjab National Bank has partnered with Zaggle Prepaid Ocean Services Ltd to launch biodegradable co-branded twin credit cards, as the public sector lender looks to strengthen its presence in India's underpenetrated credit card market and tap into growing demand from younger consumers.
The PNB-Zaggle Co-branded Twin Credit Cards, launched on Friday, are designed to combine lifestyle benefits with sustainability and will be available across India. The cards are manufactured using biodegradable materials and offer customers access to both Visa and RuPay networks through a twin-card proposition.
Announcing the launch, PNB Managing Director and Chief Executive Officer Ashok Chandra said the bank sees significant growth opportunities in the country's credit card segment.
"With huge Gen Z and Millennials, we see immense potential in the credit card segment, which remains significantly underpenetrated in the country," Chandra said. "Our partnership with Zaggle marks another important milestone in our journey to strengthen PNB's credit card ecosystem through technology, innovation, and seamless customer experiences."
He added that the bank expects the new offering to support customer acquisition and engagement.
"Backed by robust digital infrastructure and streamlined onboarding capabilities, we are confident that the PNB-Zaggle Co-branded Twin Credit Cards will accelerate customer acquisition, enhance engagement, and contribute significantly to our vision of becoming a leading player in India's credit card market," Chandra said.
According to the release, the twin-card proposition combines "the global acceptance and travel privileges of Visa and lifestyle benefits of RuPay with the UPI-enabled convenience", giving customers access to a broader set of rewards and payment options.
The cards offer a range of benefits, including complimentary railway and airport lounge access, OTT subscriptions, fitness memberships, travel and shopping vouchers, dining offers, fuel surcharge waivers, personal accident insurance cover and a 1.5 per cent discount on jewellery purchases.
Zaggle Managing Director and Chief Executive Officer Avinash Ramesh Godkhindi said the partnership aligns with the company's strategy of building differentiated consumer fintech products.
"By combining our deep expertise in rewards, spend management and consumer FinTech with PNB's unmatched banking reach and trust, we are bringing millions of Indians a card that rewards every purchase, every journey and every aspiration, while leaving a lighter footprint on the earth," Godkhindi said.
He added that the collaboration is "central to our strategy of building differentiated, high-impact consumer FinTech products that create lasting value for customers, partners, and shareholders."
The cards will be available through the zagg.money application and are aimed at customers seeking a combination of rewards, convenience and environmentally conscious payment solutions.
— ANI
Reader Comments
Twin cards with Visa and RuPay – that's genius for travelers like me. Airport lounge access and OTT subscriptions? Sign me up! But honestly, I wonder how many people will actually use both cards or if it'll just confuse folks. Still, eco-friendly credit is a win.
A biodegradable card is great PR but I hope they're also doing something meaningful for the environment beyond the card material. Otherwise it's just greenwashing. That said, PNB's reach in smaller cities could make credit cards accessible to many who've never had one. 🇮🇳
I'm curious about the annual fees and interest rates. The benefits sound good – lounge access, OTT, fitness memberships – but in India, credit card debt is a serious issue for many. Hope PNB focuses on responsible lending too. Oh, and the 1.5% jewellery discount? Perfect for wedding season! 😅
Love that they're targeting Gen Z and Millennials! We care about the planet and perks. But why does every new credit card need a fancy app? The zagg.money app better be smooth – some government bank apps are laggy. Hope PNB has invested in tech this time. Still, a solid initiative. 👌
Eco-friendly twin cards? Sounds like a solution in search of a problem. Most people carry one card, not two. And biodegradable plastic is still plastic – it just breaks down in specific conditions. I'd rather see PNB focus on financial inclusion for rural areas instead of fancy urban perks.
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