Zaggle Prepaid Inks 5-Year PNB Deal as Profits Surge 30%, June 20

Zaggle Prepaid Ocean Services signed a five-year agreement with Punjab National Bank to co-brand retail credit cards. The partnership leverages Zaggle’s corporate customer base for card acquisition and marketing. The deal comes as Zaggle reported strong Q4 FY26 results, with consolidated net profit surging 30.42% to Rs 40.60 crore and revenue rising 49.94% to Rs 671.91 crore over the prior year.

Partnership Expands Card Reach Across India

Under the agreement, Zaggle will use its existing corporate customer base to drive acquisition, marketing, and promotion of the co-branded retail credit card. The partnership aims to expand the reach of the co-branded card offering across India. The agreement is domestic in nature and will remain in force for five years. Zaggle confirmed that neither its promoter, promoter group, nor group companies have any interest in Punjab National Bank, and the deal does not constitute a related-party transaction.

Twin Cards Offer Dual Network Access

The PNB-Zaggle co-branded twin credit cards were launched with access to both Visa and RuPay networks. The cards are manufactured using biodegradable materials, reflecting a shared commitment to environmental responsibility. Benefits include complimentary railway and airport lounge access, OTT subscriptions, fitness memberships, travel and shopping vouchers, dining offers, fuel surcharge waivers, personal accident insurance, and a 1.5% discount on jewellery purchases.

Strong Earnings Support Growth Strategy

Zaggle’s Q4 FY26 consolidated net profit surged 30.42% to Rs 40.60 crore, while revenue from operations rose 49.94% to Rs 671.91 crore compared to Q4 FY25. The company operates in the business-to-business-to-customer segment and is one of India’s largest issuers of prepaid cards. Zaggle also maintains a diversified portfolio of software-as-a-service products, including tax and payroll software.

Stock Gains on Partnership News

Zaggle’s stock rose 1.17% to settle at Rs 212.55 on Friday, June 19, 2026. The partnership with PNB signals management confidence in expanding the company’s fintech offerings. Analysts at Business Standard reported the deal as a significant milestone for Zaggle’s consumer fintech strategy. The agreement strengthens PNB’s credit card ecosystem through technology and innovation.

Final Thoughts

Zaggle’s five-year PNB partnership and 30% profit growth signal strong momentum in India’s fintech credit card market. The stock’s modest 1.17% gain suggests investors are pricing in steady expansion rather than explosive growth.

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