Mumbai, June 22 -- Under the agreement, Zaggle will leverage its existing corporate customer base to drive customer acquisition, marketing and promotion of the co-branded retail credit card, with the aim of expanding its reach.

The agreement is domestic in nature and will remain in force for a period of five years. The company said that neither its promoter, promoter group nor group companies have any interest in Punjab National Bank. The agreement does not constitute a related-party transaction.

Zaggle Prepaid Ocean Services is a leading spend management company with a differentiated value proposition and diversified user base. The company operates in the business-to-business-to-customer (B2B2C) segment and is one of the largest issuer...