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KSUM-incubated Ewire Ties up with YES Bank for Prepaid Card

In Business
December 15, 2020

KOCHI:
Ewire Softtech under Kerala Startup Mission (KSUM) has launched a prepaid card in association with YES Bank, enabling the next-generation payment platform provider chart an all-India presence.

The co-branded digital banking mobile application will help the common public and corporate houses with providing loans, insurance and CASA account through its channel partners. This can be done via its dedicated RuPay prepaid cards platform.

The partnership with YES Bank has come as a major milestone for Ewire, keen to establish its presence across the country in the its digitization drive. “Our customers can now avail the convenience of digital payments. The card will be offered through YES Bank’s branches across 28 states and eight union territories,” Ewire CEO Yunus Puthenpurayil said.

Founded in 2018, the company with an ISO 9001:2015 CRISIL certification functions at Kinfra Hi-Tech Park in Kalamassery, 20 km north of the city. A winner of several awards, appreciations and recognitions in Fintech innovations from the state and central governments, Ewire provides industry protocol-enabled scalable and innovative banking and payment solutions (Open Loop, Closed Loop and QR Code) to clients around the world.

“This is a landmark achievement,” Puthenpurayil said about the latest product by his firm which provides cashless, service-oriented, cloud-agnostic payment platform. “This collaboration will enable the customers to enjoy a complete suite of digital and virtual banking offerings.”

YES Bank Chief Operating Officer Anita Pai noted that the unique solution caters to the needs of evolved customers who expect banking services to be fast, secure and at their fingertips. “We at the bank remain focused on building new partnerships and continuous innovation to offer our customers a differentiated banking experience,” she added.

Ewire, which has four offices in India, provides solutions focused in the areas of credit, debit, ATM and commercial cards, including transaction processing and customer service delivery channels. The platform provides industry protocol-enabled scalable and innovative banking and payment solutions

Mumbai-headquartered YES, as a ‘full-service commercial bank’, provides a range of products, services and technology-driven digital offerings, catering to retail, MSME as well as corporate clients. It carries out investment banking, merchant banking and brokerage businesses through YES Securities and its Mutual Fund business through YES Asset Management (India) Limited, both wholly-owned subsidiaries of the Bank.

KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.