Digital payment firm Obopay has reportedly entered into a partnership with FederalBank and Mastercard for the purpose of launching a prepaid payment solution for corporate clients to manage their disbursement and payment solutions.
The company stated that the fresh card will have multiple features like split transaction, multi wallet facility, ATM withdrawals, inter-card fund transfer, and many others.
Also, the card which comes with no minimum balance requirement and no service charge can be useful for all forms of corporate entities like distributors, colleges, factories retailers etc.
“We are joining hands with Mastercard and Federal Bank for promoting digitization and creating a robust payment solutions solution which will provide end users with the highest level of convenience. Obopay will play a vital role in facilitating the programmanagement and customer lifecycle management for the end-users,” saidShailendra Naidu, chief executive officer, Obopay.
It has been mentioned that the users can use this card for multiple payments such as bank accountsfor using salary, digital wallets for payments, food coupons, insurance claimsand much more.