Decentro partners with Yes Bank to launch co-branded Prepaid Cards

By Leandra Monteiro

Decentro, a banking API Integration platform for businesses, today announced launch of its new prepaid program platform in partnership with Yes Bank. The program caters to FinTech brands, NBFCs, gig economy players, neo-banks, and any consumer or business facing corporate entity by enabling them to launch co-branded prepaid cards. The card, which will use Decentro’s and Yes Bank’s API integration layer, is being launched on the RuPay Network.

On the launch of the program, Rohit Taneja, Founder & CEO, Decentro said, “We are committed to provide world-class product experience to our customers and enable a transformative fintech journey that they can offer to their customers. We are happy to join hands with like-minded partners like Yes Bank to enable this journey of creating value for corporates and the larger ecosystem in India. Any business can now launch a co-branded prepaid card and give their customers a chance to spend easily with various merchants in the offline and online world.”

These cards will help merchants to streamline their customer’s expenses, track their spending patterns, enable personal finance management solutions, and help them seamlessly manage and reload their cards. It also adds a new revenue stream for the businesses launching the card, in the form of interchange commission whenever anyone makes a transaction with these prepaid cards.

Anita Pai, Chief Operating Officer, YES BANK said, “We are pleased to partner with Decentro on this unique technology-driven project – in line with our strategy to nurture open banking, strengthen the payments ecosystem and create commercial models that will provide value for our clients. The partnership will enable faster go-to-market for businesses to launch prepaid payment instruments, thereby delivering the convenience of digital-first solutions to more consumers. We are intensifying our efforts to deliver a range of solutions that add value to customers and push the boundaries through strategic partnerships across the spectrum.

The first partner company for this launch is a B2B payments network in India that lets small businesses collect online payments from other businesses. Using a partner NBFC that is willing to provide credit to these small merchants, the prepaid card will essentially act as a credit instrument to facilitate, track, and manage the spends seamlessly. Ultimately enabling a fully cashless environment for the thousands of retailers in the fast-growing digital economy.