PUNE: Yes Bank has partnered with Crownit, amerchant discovery and privileges platform, to launch digitized meal vouchers. The app-based digital meal wallet can be linked with a Meal Debit MasterCard which enables employees to avail unlimited food, beverage & grocery redemption options, both online and offline.
While eliminating the hassle of managing and distribution of paper currency for the employer, there is an integrated dashboard which allows them to update employee details and distribute meal vouchers with a single command. For employees, the solution promises ease of access and use, along with tax savings ranging up to INR 10,000 per employee per year.
Sameer Grover, CEO, Crownit, said, “At Crownit, we aim to make all lifestyle spending by users absolutely seamless, in addition to making expenses rewarding by means of cashback points. Voucher distribution by employers is a largely neglected sector of expenditure despite the fact that almost all large companies give out meal coupons to employees. Not only does our program make this process much smoother, but the meal vouchers are all RBI and income tax compliant, fulfilling all regulatory norms. All funds deposited for Crownit meal vouchers will be directly deposited to YES BANK.”
Ritesh Pai, Senior President, and Country Head – Digital Banking said, “YES BANK has always been at the forefront of digital payments for which we have partnered with Crownit enabling us to focus on contributing towards digitally driven economy whilst driving delightful customer experiences. This system is a step towards paperless transactions thus being environment-friendly along with simplifying the complicated process of distribution and maintenance for employers while delivering multiple benefits for their employees.”
