India-based IDFC FIRST Bank in collaboration with gifting and employee benefit services provider Sodexo has rolled out a co-branded digital meal card for corporate employees.
The launch of the new offering is the result of the on-going association between IDFC FIRST Bank and Sodexo for co-branded gift and rewards cards.
The new meal card will make Sodexo’s digital suite of employee meal benefits available to corporate staff having salary accounts in IDFC FIRST Bank.
The cardholders will be able to avail offers and discounts at restaurants. Additionally, they can claim tax exemption for meals in according with the current tax laws.
IDFC FIRST Bank head of retail liabilities Amit Kumar said: “The IDFC FIRST Bank and Sodexo meal card is a unique proposition meant exclusively for purchase of food items, thus enabling salaried individuals to accurately track meal expenses.
“It unlocks the potential of digital transformation in the meal benefits space and strengthens our Bank’s offering to corporate clients.”
Sodexo Benefits and Rewards Services India CEO Anish Sarkar commented: “Our partnership with IDFC FIRST Bank during the last one year has helped us achieve great results through the gift card and this partnership will now enable Sodexo to extend its digital meal benefits to millions of new users, who will get access to Sodexo’s proprietary meal network of over 1,00,000 points of acceptance across more than 1,700 cities offering greater choice.”
In August 2017, Sodexo teamed up with IDFC Bank and National Payments Corporation of India’s (NPCI) RuPay to launch a new prepaid card.