Paramotor partners with NSDL Payments Bank and Mastercard for gift and prepaid cards

The bank relationship predates the festival. Paramotor’s August 17 statement announced a co-branded prepaid-card agreement with NSDL Payments Bank across India. The September disclosures add the Mastercard collaboration and describe further distribution and closed-loop gifting work. They should not be read as the first announcement of every relationship involved. [S03]

Paramotor supplies the programme layer

Paramotor describes itself as a programme manager for prepaid instruments issued by banks and licensed issuers, and a distribution agent for merchants’ gift cards. Its portfolio includes SpendPro for spend management, RewardOn for rewards, the yayyy.shop gifting marketplace and DevStack for custom financial-technology development. [S04]

That model separates the jobs of designing and running a programme from issuing its regulated payment instrument. Paramotor can assemble customer interfaces, reward rules and distribution, while drawing on an issuer’s established capabilities. Its technology suite is also sold as a way for clients to reuse working components instead of developing an entire platform themselves. [S04]

In the August announcement, NSDL Payments Bank’s contribution is specifically identified as prepaid issuance and banking infrastructure. Paramotor said the agreement was intended to reduce development and implementation effort for business customers. The potential gain for the bank is access to programmes distributed through a technology partner, rather than

Paramotor Digital Technology has brought NSDL Payments Bank and Mastercard into a gift and prepaid card initiative, alongside separate arrangements with TBX and merchandise brand Osmo Atorie . Announced around Global Fintech Fest and reported on September 11, 2026, the package extends the Mumbai company’s role as the technology and programme-management layer between issuers, distributors and customers. [S01] [S02] The bank relationship predates the festival. Paramotor’s August 17 statement announced a co-branded prepaid-card agreement with NSDL Payments Bank across India. The September disclosures add the Mastercard collaboration and describe further distribution and closed-loop gifting work. They should not be read as the first announcement of every relationship involved. [S03] Paramotor supplies the programme layer Paramotor describes itself as a programme manager for prepaid instruments issued by banks and licensed issuers, and a distribution agent for merchants’ gift cards. Its portfolio includes SpendPro for spend management, RewardOn for rewards, the yayyy.shop gifting marketplace and DevStack for custom financial-technology development. [S04] That model separates the jobs of designing and running a programme from issuing its regulated payment instrument. Paramotor can assemble customer interfaces, reward rules and distribution, while drawing on an issuer’s established capabilities. Its technology suite is also sold as a way for clients to reuse working components instead of developing an entire platform themselves. [S04] In the August announcement, NSDL Payments Bank’s contribution is specifically identified as prepaid issuance and banking infrastructure. Paramotor said the agreement was intended to reduce development and implementation effort for business customers. The potential gain for the bank is access to programmes distributed through a technology partner, rather than

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