Paramotor Digital Technology has announced collaborations with NSDL Payments Bank and Mastercard Asia/Pacific to support new gift cards and prepaid cards. The company’s September 11 statement, reported by PTI, brings together Paramotor’s technology platform, the bank’s infrastructure and Mastercard’s payment network.

The card initiative is part of a wider set of arrangements covering digital payments, gifting and rewards. Paramotor also signed an agreement with TBX, formerly known as TransBnk, to broaden distribution of its platform ecosystem. The two companies are exploring services for enterprises and the wider financial sector.

A separate partnership with merchandise company Osmo Atorie covers technology and infrastructure for a closed-loop card introduced at the Global Fintech Festival. Paramotor described its role in that product as providing the supporting services.

Sonia Pankaj Asher, Paramotor’s executive chairperson and whole-time director, said the collaborations form part of its work on connected digital value services for consumers and enterprises.

The announcements follow Paramotor’s confidential submission of draft initial public offering documents to India’s Securities and Exchange Board in May. The report did not give a fundraising amount or an offering timetable.