Tide, Transcorp International to introduce Tide Expense Card in India
Tide has joined forces with India-based non-bank card issuer Transcorp International to introduce co-branded prepaid cards dubbed Tide Expense Card as an entry product in India.
The UK-based business financial platform will provide payment services to small businesses in India by starting with a Tide Business Account, which will come along with a Tide Expense Card.
The cards will be offered in collaboration with Transcorp powered by RuPay, with other payment and business services to be introduced later this year.
Ayan Agarwal — Transcorp International Vice President said: “Transcorp is delighted to partner with Tide to enable digital payments and promote financial literacy amongst India’s largest business fraternity: SMEs. This segment is India’s economic backbone but remains financially underserved.
“With Tide, we aim to include them into the formal economy by delivering excellent products and exceptional service.”
Tide, Transcorp International to introduce Tide Expense Card in India. Image courtesy of Transcorp International Limited.
According to Transcorp International, the partnership makes use of its reputation, the expertise of RuPay, an Indian indigenous payment network, and Tide’s experience with small and medium-sized enterprises (SMEs) in the UK.
Oliver Prill — Tide CEO said: “Launching Tide’s business financial platform in India has been our priority since we announced our international expansion. We are excited to partner with Transcorp as we embark on the next stage of Tide’s journey, to serve the 64-million and growing SMEs in the Indian market.
“With Transcorp, we are ready to begin our initial product offering of Tide India, in order to build the best possible service to help SME owners save time and money.”