How Cashfree’s Open Loop Prepaid Infrastructure powers Pazcard – and what it can enable next.
Employee benefits are evolving. Food, fuel, medical, learning, telecom and more are becoming part of how businesses support their employees.
But as benefits become more diverse, the experience around them can become more complex. Employers need to manage different allocations and controls, while employees may have to navigate multiple benefits and ways of accessing them.
The opportunity is to make that experience simpler, without compromising flexibility.
That thinking led to Pazcard, built by Cashfree × Pazcare – an employee benefits solution powered by an Open Loop Prepaid Wallet and digital card, bringing multiple benefits together in one connected experience.
But Pazcard is more than a card. It is one use case of the Open Loop Prepaid Instrument infrastructure Cashfree is building.
Bringing multiple benefits into one experience
At the centre of Pazcard is an Open Loop Prepaid Wallet, powered by Cashfree.
Employers can allocate benefits across categories such as food, fuel, medical, L&D and telecom. Employees can then access their eligible benefits through a single digital card.
The journey connects the different parts of the experience – from an employer allocating benefits, to an employee accessing them through Pazcard and using them for eligible purchases.
The idea is simple: bring multiple benefits together while retaining the flexibility and applicable controls needed to manage how they are used.
Built for both sides of the employee benefits experience
For employers, offering a broader benefits programme means balancing flexibility with control. Pazcard brings benefit allocation, applicable rules and fund management into a connected wallet experience, helping simplify administration.
For employees, the focus is simplicity. Instead of navigating separate instruments for different benefits, they can access eligible benefits through one digital card.
For employers: greater control and a more connected way to manage benefits.
For employees: one card, easier access and a simpler benefits experience.
The goal isn’t to reduce the choice available to employees. It is to make that choice easier to manage and access.
What powers Pazcard?
A simple experience on the surface requires infrastructure working underneath.
Cashfree powers the prepaid infrastructure behind Pazcard – from employee KYC and PPI and card issuance to fund management, controls and transaction processing.
Four key layers bring the experience together:
- KYC & Issuance – Employee Full KYC, followed by prepaid wallet and digital card issuance.
- Wallet & Funds – Benefit allocation and fund management.
- Controls – Benefit-specific rules and MCC-based controls.
- Transactions – Transaction processing and spending at eligible merchants.
Together, these layers connect the journey from allocated benefit to eligible spend.
Two strengths. One experience.
Pazcard brings together two complementary capabilities.
Pazcare brings the employee benefits experience and distribution – from employer management and employee experience to benefit visibility.
Cashfree brings the prepaid instrument infrastructure – including KYC, PPI and card issuance, fund management and transaction processing.
Together, we’re building a simpler way for businesses to allocate and manage employee benefits, and for employees to access them.
For Cashfree, Pazcard is also a step towards a broader vision: building financial infrastructure that enables businesses to allocate, manage and enable the use of funds for specific needs.
Employee benefits are one application of that infrastructure – and an important one.
One wallet. Multiple employee benefits. One digital card.
Pazcard is one application of Cashfree’s Open Loop Prepaid Instrument infrastructure. We’re excited to build on this foundation and unlock many more use cases in the future.
