Paramotor Builds New Payments Alliance, Teams Up With NSDL Payments Bank, Mastercard And TBX

Mumbai: Fintech company Paramotor Digital Technology Ltd has announced multiple partnerships with NSDL Payments Bank, Mastercard Asia/Pacific and TBX as it looks to strengthen its footprint across India's fast-growing digital payments, gifting and rewards ecosystem.

The collaborations will help Paramotor expand its technology-led offerings for both consumers and enterprises while widening the distribution of its payments platform.

Gift and Prepaid Cards in Focus

Paramotor is working with NSDL Payments Bank and Mastercard Asia/Pacific to enable the launch of new gift cards and prepaid cards.

The initiative will combine Paramotor's technology platform with NSDL Payments Bank's banking infrastructure and Mastercard's global payments network.

The company said the partnership is designed to create connected, digital-first payment solutions and strengthen its presence in the prepaid and gifting market.

TBX Partnership to Expand Distribution

Paramotor has also signed an agreement with TBX, formerly known as TransBnk, to expand the distribution of its platform ecosystem.

The two companies will explore scalable solutions aimed at enterprises and the wider financial services ecosystem.

Separately, Paramotor has partnered with character merchandise brand Osmo Atorie LLP.

Under the collaboration, Paramotor will provide the technology and infrastructure required for Osmo Atorie's closed-loop card, which was launched at the Global Fintech Festival.

Sonia Pankaj Asher, Executive Chairperson and Whole-time Director of Paramotor Digital Technology, said the partnerships are focused on creating connected digital value infrastructure for consumers and businesses.

Paramotor Preparing for IPO

The partnerships come as Paramotor also prepares for a potential stock market listing.

In May, the fintech company confidentially filed draft papers with the Securities and Exchange Board of India (Sebi) to raise capital through an initial public offering (IPO).

The latest collaborations could broaden Paramotor's digital payments ecosystem as the company builds its presence across prepaid products, gifting, rewards and enterprise financial technology ahead of its proposed public issue.