e-commerce
Zaggle swipes big with Mastercard in co-branded card power play
MUMBAI: When Zaggle and Mastercard join forces, you know the swipe game just levelled up. In a move set to reshape India’s prepaid card landscape, Zaggle Prepaid Ocean Services Limited has inked a five-year deal with Mastercard Asia/Pacific Pte. Ltd., paving the way for a new wave of co-branded domestic prepaid cards.
The agreement, effective from 22 September 2025 and running until 30 September 2030, will see Mastercard incentivise Zaggle to launch and promote these cards on its network. The deal is positioned as a customer business agreement, but in the wider payments ecosystem, it’s a strong signal that prepaid solutions are no longer niche, they’re going mainstream.
Zaggle managing director Avinash and CEO Ramesh Godkhindi confirmed the collaboration in a regulatory filing, noting that the tie-up is fully aligned with SEBI’s disclosure requirements. Importantly, there’s no related party angle here, the deal is clean, international in origin, but domestic in focus.
For Zaggle, this partnership means more than just plastic in wallets, it’s about scaling digital payments for an India that is rapidly going cashless. With Mastercard’s global heft backing its distribution, the co-branded cards are expected to target a wide consumer base, from urban professionals to emerging Tier 2 plus spenders looking for secure, flexible, and reward-heavy payment tools.
The timing couldn’t be sharper. With India’s digital transaction volumes already scaling new highs and festive spending season underway, the Zaggle-Mastercard alliance is poised to capture both consumer trust and transaction value.
By the numbers:
● Agreement duration: 22 September 2025 – 30 September 2030
● Nature: Domestic prepaid card co-branded with Zaggle on Mastercard’s network
● Structure: Internationally awarded, domestically executed
● Consideration: Mastercard incentivising Zaggle for launch and promotion
As fintech partnerships continue to blur the lines between consumer convenience and financial innovation, Zaggle’s latest move signals that the prepaid card is no longer the poor cousin of credit, it’s a rising star. With Mastercard in its corner, Zaggle isn’t just playing the payments game; it’s aiming to rewrite the rulebook.
e-commerce
Flipkart rolls out 105 per cent bonus for 20,000 employees
Strong FY25 performance drives payouts even as layoffs and shifts unfold.
MUMBAI: In a year where belts were tightened and rewards loosened, Flipkart seems to be playing both offence and defence trimming roles on one hand while handing out a generous 105 per cent bonus on the other. The Walmart owned e commerce major has rolled out a 105 per cent bonus payout for 2025, covering nearly 20,000 employees, signalling a year of steady operational momentum even as the company navigates restructuring pressures. The payout, communicated internally by chief human resources officer Seema Nair, is tied to performance across key metrics including growth, operational efficiency, financial outcomes and people indicators, a combination that suggests the company is inching closer to its long stated goal of sustainable profitability.
Employees at SD level and below are set to receive their bonuses in March, while payouts for senior leadership, including vice presidents and senior vice presidents, will follow after the close of the performance cycle. The elevated 105 per cent multiplier stands out in a sector where cautious payouts have increasingly become the norm, pointing to what appears to be a relatively strong internal scorecard for FY25.
Yet, the announcement arrives with a noticeable contrast. Earlier this year, Flipkart reduced its workforce by around 300 roles as part of its annual performance review process. While officially framed as performance driven, the juxtaposition of layoffs alongside above target bonuses reflects a more nuanced balancing act, one that prioritises cost discipline while continuing to reward and retain high performing talent.
This dual approach is becoming increasingly common across the technology and e commerce landscape, where companies are navigating an uneven hiring environment while under pressure to deliver profitability. Rewarding top contributors, even amid selective workforce reductions, allows firms to maintain morale and retain critical talent without losing sight of financial prudence.
At the same time, Flipkart is also undergoing leadership shifts that hint at a broader strategic recalibration. Nishant Verman has been appointed senior vice president for corporate development and partnerships, while group chief financial officer Sriram Venkataraman is set to step down. Ravi Iyer will take on expanded responsibilities within the finance function, marking a reshuffle at the top as the company gears up for its next phase.
These changes come amid reports that Flipkart is planning to shift its holding structure back to India, a move widely interpreted as groundwork for a potential public listing. While timelines remain fluid, the combination of stronger financial discipline, leadership restructuring and employee incentivisation suggests a company preparing itself for greater scrutiny and scale.
For employees, the 105 per cent payout offers a welcome boost in what has otherwise been a period of adjustment. For Flipkart, it is a signal that even as it cuts where necessary, it is willing to spend where it counts. In the high stakes game of growth versus profitability, the company appears to be hedging its bets carefully, rewarding performance while reshaping itself for what could be its most defining chapter yet.
