Ongo Partners with Patanjali Ayurved Limited to Issue Open-loop Cobranded Rupay Prepaid Cards

AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), digital payments brand Ongo has partnered with Patanjali Ayurved Limited, India's leading conglomerate to launch open-loop Cobranded Prepaid Cards. These prepaid cards can be accepted on any device on Rupay network pan India.

Acharya Balkrishna, Co-founder and MD of Patanjali Ayurved Ltd. said, "We are delighted to provide an elevated shopping experience to our esteemed clientele by introducing the open-loop cobranded cards in collaboration with Ongo. With Patanjali-Ongo cards, our valued customers will gain access to exclusive benefits spanning a diverse range of Patanjali's products and services across Patanjali stores. Additionally, with these cards they can now experience an unparalleled convenience at all RuPay acceptance points across the country."

Mr. Ravi B Goyal, Chairman & MD, AGS Transact Technologies Limited said, "We are thrilled to partner with Patanjali Ayurved, country's leading conglomerate to introduce open-loop cobranded prepaid cards on our Ongo platform. Through this partnership, we aim to provide unparalleled convenience to Patanjali's extensive customer base, ensuring every transaction is enriched with seamless efficiency and ease. Further, this alliance reaffirms our commitment to transform customer's payment experience by empowering them with convenient solutions that cater to their dynamic lifestyles."

Patanajali-Ongo cobranded card users will earn rewards on purchasing Patanjali products through these cards. Additionally, they can use these cards for various other payments including shopping, dining, fuelling and ecommerce. Further, this card comes with NCMC feature which will allow them to seamlessly use transit services such as NCMC enabled Metro, Buses, Toll and Parking across the country. The enrolment for this can be done by customers via registration on the Ongo app available on Playstore and App store or by visiting the nearest Patanjali stores.

Ongo has a PPI license from the RBI enabling it to issue open-loop prepaid instruments like prepaid cards and wallets.

Shares of AGS Transact Technologies Ltd was last trading in BSE at Rs. 87.58 as compared to the previous close of Rs. 89.72. The total number of shares traded during the day was 11928 in over 204 trades.

The stock hit an intraday high of Rs. 90.05 and intraday low of 87.10. The net turnover during the day was Rs. 1050223.00.

Source : Equity Bulls

Keywords

AGSTransactTechnologies Ongo DigitalPaymentsBrand Partnership PatanjaliAyurved Cobranded PrepaidCards