Digital payments company Obopay has joined hands with Federal Bank and Mastercard to introduce a prepaid payment solution for corporate clients to manage their disbursement and payment solutions.
In its official communiqué, Obopay has said that a new card with multiple features like split transaction, multi wallet facility, ATM withdrawals, inter-card fund transfer, and many others will be launched.
The card levies no service charge and can be useful for all forms of corporate entities like distributors, colleges, factories retailers etc. It comes with comes with no minimum balance requirement.
“We are joining hands with Mastercard and Federal Bank for promoting digitization and creating a robust digital payments solution which will provide end users with the highest level of convenience. Obopay will play a vital role in facilitating the program management and customer lifecycle management for the end-users,” said Shailendra Naidu, chief executive officer, Obopay.
This card can be used for multiple reasons such as bank accounts for using salary, digital wallets for payments, food coupons, insurance claims etc.