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Federal Bank, clandestine area coffer today appear a cardinal accord with OneCard and launched a adaptable -first acclaim agenda that aims to accommodate a seamless agenda acquaintance to the young, tech-savvy citizenry beyond the country.

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With OneCard, Federal Coffer will ambition the adolescent alive professionals amid 23-35 years, primarily apery the millennials and Gen Z. This digitally built-in accomplice is accessible to experimenting with new apps and accept ample disposable income.

According to the latest address by Deloitte, millennials and Gen Z abandoned comprise added than 35 percent and 27 percent appropriately of the Indian population.

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The co-branded agenda powered by acute OneCard app will accord the chump abounding ascendancy of their acclaim agenda – spends, rewards, limits, payments and more, thereby minimising animal intervention, according to a columnist release.

The mobile-first Acclaim Agenda offers seamless in-app on-boarding whereby the basic agenda can be activated and acclimated instantly, while the metal agenda is delivered to the chump in as beneath as 3-5 days.

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As of March 31, 2021, there were 62 actor acclaim cards in the system, which confused up to 62.4 actor by the end of May. The government’s eyes of a cashless society, digitalization, developments in e-commerce, and advance in POS basement has encouraged the use of acclaim cards. Acclaim agenda spends accept broadcast robustly, growing at a CAGR of 25 percent from budgetary 2016 to budgetary 2021, and advance is accepted to abide to ability Rs. 15 abundance in absolute acclaim agenda spends for budgetary 2024.

Shalini Warrier, Executive Director & Business Head- Retail, Federal Bank, said, “OneCard comes with a able chump proposition, backed by accompaniment of the art technology and analytics. We are assured that this affiliation will see the Coffer and OneCard calibration new heights in the acclaim agenda business.”

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Anurag Sinha, Co-founder & CEO, OneCard said “OneCard is a new-age acclaim agenda accurately advised for the digitally built-in beyond the country. Our affiliation with Federal Coffer added fuels our eyes of proliferating ‘smart banking’ through a mobile-first approach.”

OneCard has been launched by FPL Technologies – a fintech start-up which aims to digitally revolutionise acclaim and payments in India.

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