Saturday, July 13th, 2024

Giverly launches Prepaid Card that Helps Consumers ‘Give Back’ While Spending, in partnership with Transcorp and Visa powered by Neokred

Users can utilise cash back received on spends to donate to their favourite charities

New Delhi (India), June 21: Giverly, a social impact fintech Start-up, announced the launch of its Social Impact prepaid card in partnership with Visa and Transcorp International Limited, a 29-year-old Reserve Bank of India (RBI) regulated Authorised Dealer Category II and perpetual Prepaid Payment Instrument (PPI) license holder. Giverly cards convert everyday spending into ‘free and meaningful donations’ towards some of the most pressing social issues in the country; providing a convenient and rewarding way for customers to positively impact society.

Giverly prepaid card holders can make free charitable contributions using the cashback they receive on every transaction and the exclusive deals, offers, and discounts they enjoy on purchases, making it an appealing choice for socially conscious shoppers. 

Giverly also offers an employee benefits and rewards solution to corporates, allowing them to disburse gifts, reimbursements, incentives, and bonuses to their employees directly into their Giverly cards. Using Giverly’s prepaid cards, companies can inculcate a culture of giving back within the organization and enable their employees to track their expenses, save money through exclusive deals, and even avail of tax benefits for their charitable donations.

Commenting on the launch, Sagar Menon, Founder & CEO, Giverly, said, “Imagine a world where consumers, charities, and brands come together to make the world a better place. Imagine if consumers could fulfil other people’s needs while fulfilling their own wants. Giverly seeks to turn this vision into reality. With Transcorp and Visa’s longstanding reputation in the industry along with a huge network of merchants, Giverly will be able to ensure that a percentage of every transaction goes towards the betterment of the society” 

Manvi Mehra, Founder & CBO, Giverly, said, “We wanted to create a platform that inculcates a culture of giving back to society by making donations free, effortless & transparent and that is exactly what Giverly is. With just 10,000 users transacting through Giverly cards, we will be able to feed 50,000 people, prevent 4000 mothers from maternal deaths, and support 2000 destitute elderly people within this quarter alone!”

With the objective to have 100,000 cards in the market by the end of this fiscal year, Giverly will be able to amplify this impact tenfold.

Ayan Agarwal, CEO, of Transcorp added “Transcorp and its management have deep roots in social impact and community service. To power the Givelry card is an absolute honour for the Transcorp team; every spend on the card directly uplifts underprivileged individuals and communities. The altruistic nature of the card is a first in India; and can be used by corporates as part of their Corporate Social Responsibility (CSR) budgets. As the oldest and premier choice for co-brand PPI partnerships; Transcorp has a 100% success record and continues to deliver success to its fintech partners in a compliant and curated manner. 

Sujai Raina, Head of Business Development, India, Visa said, “At Visa, we believe that when people have access to safe, reliable and convenient payment solutions, we help uplift everyone, everywhere. We are proud to partner with Giverly and Transcorp and enable Visa cardholders to unlock their full potential and drive positive change in the lives of those around them, by using card-linked benefits to give back to their favourite charities. We are excited to support this innovative approach to social impact and create lasting change in communities across India.”

Today, Charities and NGOs are in need to create sustainable and diverse sources of funds to carry out their operations, this was further aggravated by the COVID-19 pandemic. Giverly helps charities raise funds effortlessly every time their supporters spend through the Giverly Card, allowing charities to spend more time on carrying out their good work and less time focusing on raising funds for their operations. 

Tarun Nazare, CEO & Co-Founder, Neokred said “It has been a pleasure working with Giverly, having the concept of giving back to the community using a payment instrument, it has been one of the projects we loved working with, which changes the lives of every charity organisation from a swipe.” 

The launch of Giverly Cards and this partnership are an exciting development in the world of fintech and social impact, as it demonstrates the power of collaboration between companies that are committed to creating positive change in the world.

About Giverly:

Founded in 2019, Giverly has been a pioneer in the social impact space, having introduced a range of innovative technology products that convert everyday spending into free and meaningful donations towards social causes. The Start-up first established its operations in Australia as a Charity Cashback platform during the COVID-19 Pandemic, helping a number of Charities in raising the necessary funds to survive and carry out their operation, before finally setting up operations in India and entering the Social impact fin-tech space.
 Backed by India Accelerator, Giverly is a new-age fintech lifestyle company with a vision of making the world a better place, one transaction at a time. Giverly aims to make charitable contributions an indispensable part of every monetary transaction across the globe.


About Transcorp International Limited:

Transcorp International Limited is a 29-year-old Reserve Bank of India regulated entity, listed on the Bombay Stock Exchange with 25 offices nationwide. The company offers a host of financial services including Foreign Exchange and Remittances as an Authorised Dealer Category II license holder. The company runs close to 1000 State Bank of India outlets across India and also operates a 39 year old travel agency: Ritco Travels. Transcorp, one of India’s first perpetual PPI license holders, empowered by RBI’s progressive policies has pioneered and democratised payment cards and UPI in India with its marquee fintech partners. The company was the first non-Bank to launch network cards in India, UPI on PPI, wearable payment devices, and has recently crossed the milestone of two million PPIs issued. Transcorp PPI continues to have a laser focus on financial inclusion, B2B partnerships and works closely with its partners to achieve their fintech goals in a compliant and curated manner. Transcorp group’s founders run various social impact institutions including Indian Institute of Health Management and Research (IIHMR) and Bhoruka Charitable Trust (BCT).


About Neokred:

Neokred is a payments infrastructure enabler which helps brands launch their banking products in a seamless manner. It serves its technologies more than 3 licensed banks, 230 co-operative banks, 106 brands across industries, 1.6 lakh MSMEs and 3 international markets. With over $3 billion in gross transaction value processed, Neokred also white labels its product solution to potential brands across sectors. Neokred partners with various regulated entities and creates a middleware platform with a low code plugin that can be used by any brand to launch their likeable fintech product such as cards, accounts, credit, etc. 


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