Mumbai, July 13, 2016: YES BANK, India’s fifth largest private sector bank, has tied up with NamasteJi to launch a Co-Branded Prepaid Card for auto drivers who are part of the NamasteJi Program to book auto rides from NamasteJi Booths across the city of Ahmedabad. The purpose of this card is to enable customer payments backed by YES BANK’s comprehensive financial supply chain solution. NAMASTEJI, A - division of, Shree Padmavati Online Services Pvt. Ltd. is a multi-format business organization present in Gujarat which is managed by Mr. Alpesh. K. Doshi as Director of the Company.
NamasteJi will setup Prepaid Auto booths across the city of Ahmedabad where customers can pre-book auto rides. The customer can also make payments for the auto ride at the prepaid booth. The booth will assign an auto for the customer ride and provide a slip to the auto driver. NamasteJi booth will load the auto driver’s YES BANK prepaid card with the ride fare. The driver can choose to keep the money in the YES BANK Prepaid Card or withdraw it based on his needs. The driver can withdraw money from any NamasteJi booth across the city. All NamasteJi booths will be enabled to load money and withdraw cash from this YES BANK Prepaid Card. Cash out transactions at the booth level maybe authenticated via OTP (One Time Password) on driver’s registered mobile number.
Speaking about the partnership, Ritesh Pai, Senior President & Country Head, Digital Banking, YES BANK, said, “We are pleased to partner with NamasteJi to provide a hassle free digitized payment solution for their program offering convenient Auto Booking and payments to users across Ahmedabad. As a Bank, we are committed to using technology and innovation to digitize payments and reduce cash transactions, thereby benefitting the larger economy.”
Alpesh Doshi, Director of Shree Padmavati Online Services Pvt. Ltd “NamasteJi”, said, “We are delighted to partner with YES BANK as with this Prepaid Cards, customers can find new easy way for the transactions, payments, etc. for their daily needs which is a part of a Digitalized India.”
The driver can know the card balances, carry out cash withdrawals or do money transfers as well bill payments through the YES BANK Prepaid Card at NamasteJi booths. The Prepaid Card will only work at NamasteJi booths and does not require the auto drivers to open an account with YES BANK. This YES BANK Prepaid Card will also help the auto drivers to create a financial transaction records/history, which will help them in the future to get loans etc. from Financial Institutions and Banks. This is not just a small step towards Financial Inclusion but a major move towards digitizing payments and cash reduction.
This Prepaid Card will be issued by NamasteJi booths directly and YES BANK branches will not be directly involved. NamasteJi will solely manage the Customer Support and call center for this program. The auto drivers will also approach NamasteJi directly for any queries and grievance.
NAMASTEJI, A - division of, Shree Padmavati Online Services Pvt. Ltd. is a multi-format business organization present in Gujarat which is managed by Mr. Alpesh. K. Doshi Director of the Company. His vision is to provide ONE STOP SOLUTION FOR ALL DAILY NEEDS with fast, efficient, qualitative & cost effective services to General Public.
NamasteJi is a new, dynamic, professionally managed business organization. Our business is completely automated and online based backed by strong support team dedicated & committed for success. We are connected with government and working under Smart City Project and also we have started applying with all the smart cities to run our Project with the vision of our Prime Minister about Digital India.
About YES BANK
YES BANK, is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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