Wed, Dec 7, 2016 | updated 02:09 PM IST

Crownit, YES Bank tie-up to introduce unique digitised 'Meal Voucher System'

Updated: Nov 16, 2016 15:17 IST

New Delhi [India], Nov 16 (ANI): YES BANK has partnered with Crownit, the leading merchant discovery and privileges platform to contribute towards making the vision of a digitally-driven Indian economy a tangible reality.

An innovative digitized system for companies has been devised to distribute meal vouchers to employees and leverage the ubiquity of smartphones. Now employers can get rid of the shortcomings of traditional paper-based coupons, instead sending out vouchers to all staff, with just one click distribution.

The revolutionary system by Crownit also includes an app-based digital meal wallet linked with a Meal Debit MasterCard which enables employees to avail unlimited food, beverage and 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 Rs. 10,000 per employee per year.

The secured pre-paid instruments with security features and app-based digital meal wallet are accepted at the largest merchant base of two lakh plus retail establishments pan India. Cash-backs and weekly rush tickets on meal voucher are an additional layer of benefits bundled in for employees.

Adding further advantages to the program, Crownit offers weekly prizes like iPhones, Amazon Kindles, branded gift vouchers, international trips and much more on meal expenses.

"We aim to make all lifestyle spending by users absolutely seamless, in addition to making expenses rewarding by means of cash-back 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," said Founder and CEO Crownit, Sameer Grover.

"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," said Senior President and Country Head - Digital Banking, Ritesh Pai.

This digitized app-based program cuts through the hassle of distributing meal coupons by enabling one-click disbursement of corporate vouchers. (ANI)