New Delhi, Oct 17 (PTI) Private sector lender KotakMahindra Bank and fintech firm Zeta today announced launch of'Paymint', a multi-wallet digital prepaid solution forsalaried employees.
As per a release, Paymint enables corporates to offer ahost of benefits to its employees including meal vouchers,medical reimbursements, leave travel allowances, conveyance,and fuel allowances, among others "to maximise tax benefits"for employees and optimise the process of making claims.
"Paymint offers corporates a single digital interface,powered by Zeta, to manage multiple reimbursements andallowances offered to employees," it said.
V Swaminathan, Senior Executive Vice President, KotakMahindra Bank said that the current employee benefitsprogramme is a cumbersome process.
He said Paymint is a far simpler way for companies toprovide tax saving benefits to their employees.
Paymint, he said is a secure, customised, paperless andconvenient solution for both employees and corporates.
Ramki Gaddipati, CTO and co-founder of Zeta, said: "Weare looking at reaching out to 1.5 to 2 million employees whoare existing customers of Kotak Mahindra Bank across thecountry."As per the release, Paymint guarantees a significantsaving on time, costs and resources.
The solution, it said ensures that corporates neitherhave to collect and store paper bills nor manually verifythem. PTI NKDSBT.
This is unedited, unformatted feed from the Press Trust of India wire.