Digitizing Employee Benefits, Corporate Rewards & Recognitions & Gifting using a Prepaid Card Qorus Banking Innovation Awards 2019

Digitizing Employee Benefits, Corporate Rewards & Recognitions & Gifting in partnership with Sodexo, Benefits Rewards & Services(BRS) and Zeta using a RuPay Prepaid Card product. In less than 1.5 years of launch we have over One million actively used cards loaded over Rs 180 +Crores that help corporates and its employees to transact digitally. Customer Pain Points (Reasons behind) Employees Benefits: Corporate employees are allowed specific benefits like fuel allowance, food allowances, driver’s salary etc. Typically, the employees pay for these and claim reimbursements from the company. With the new process the hassles of managing the paper bills and delay in clearances is completely removed. Corporate Rewards & Recognitions & Gifting: Over the years Sodexo has become an instrument of choice over here. However, use of paper vouchers has its own set of challenges in terms of logistics, acquiring network, cost of transaction for merchant and loss of vouchers etc. With our Partnership with Sodexo we have help them transition from paper vouchers to RuPay Prepaid Cards – a) IDFC FIRST Bank Sodexo Celebrations – Gift Card product. b) IDFC FIRST Bank Sodexo Rewards – Rewards & Recognition Prepaid Card product This Project involved Pre-Paid card product team, Recon – Operations, Technology team.