Punjab National Bank (PNB) has joined forces with Zaggle Prepaid Ocean Services Ltd to introduce biodegradable co-branded twin credit cards, aiming to bolster its footprint in India's underpenetrated credit card market and cater to the rising demand from younger demographics.
Launch Details
The PNB-Zaggle Co-branded Twin Credit Cards were unveiled on Friday and are designed to merge lifestyle perks with environmental sustainability. Available nationwide, these cards are manufactured using biodegradable materials and provide customers access to both Visa and RuPay networks through a twin-card structure.
Statements from Leadership
PNB Managing Director and Chief Executive Officer Ashok Chandra highlighted the significant growth potential in the credit card sector. “With a large Gen Z and Millennial population, we see immense opportunities in the credit card segment, which remains considerably underpenetrated in India,” Chandra stated. “This partnership with Zaggle is a crucial step in enhancing PNB's credit card ecosystem via technology, innovation, and seamless customer experiences.” He expressed confidence that the new offering would accelerate customer acquisition and engagement.
Chandra added, “Backed by robust digital infrastructure and streamlined onboarding, we believe the PNB-Zaggle Co-branded Twin Credit Cards will drive customer acquisition, boost engagement, and play a key role in our vision to become a leading player in India's credit card market.”
Card Features and Benefits
The twin-card proposition combines “the global acceptance and travel privileges of Visa with the lifestyle benefits of RuPay and UPI-enabled convenience,” according to the release. This gives cardholders access to a wider array of rewards and payment methods. 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.
Zaggle's Perspective
Zaggle Managing Director and Chief Executive Officer Avinash Ramesh Godkhindi noted that the partnership aligns with the company's strategy of creating differentiated consumer fintech products. “By merging our expertise in rewards, spend management, and consumer fintech with PNB's extensive banking reach and trust, we are delivering a card that rewards every purchase, journey, and aspiration while minimizing environmental impact,” Godkhindi said. He emphasized that the collaboration is central to building high-impact consumer fintech solutions that generate lasting value for customers, partners, and shareholders.
Availability
The cards will be accessible through the zagg.money application and are aimed at consumers seeking a blend of rewards, convenience, and eco-conscious payment options.
