Zaggle Rises 1% on Five-Year Referral Deal With Mastercard Asia Pacific

Shares of Zaggle Prepaid Ocean Services Ltd surged 1% to touch a day’s high of Rs 352.30 on 10th December, after the firm on Tuesday (9th December) said it had agreed with Mastercard Asia Pacific Pte Ltd.

Under the agreement, Zaggle will offer Mastercard credit cards and other solutions to its customers and prospects. Zaggle will receive spend-linked incentives in return.

The deal is categorised as a referral agreement with Mastercard Asia Pacific Pte Ltd, an international entity. It will remain valid for five years.

Last week, Zaggle approved the acquisition of Rivpe Technology Pvt Ltd for up to Rs 22 crore. This includes the full purchase of its equity and preference shares. After completion, Rivpe will become a wholly owned subsidiary. Zaggle also plans to invest up to Rs 75 crore in the firm in one or more tranches.

Zaggle said the acquisition will expand its product suite and strengthen its fintech presence. It will also add capabilities in UPI payments and consumer credit cards. Rivpe, founded in July 2023, reported revenue of Rs 0.98 crore in FY25 and operates only in India. The deal requires no regulatory approvals, with completion expected within 120 days.

At 10:59 AM, shares of Zaggle were trading 0.98% higher at Rs 348.95 on NSE.

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