India’s largest meal voucher provider, Sodexo, has tied up with Zeta that offers paperless meal vouchers to corporates. Sodexo sees a great potential in doing away with paper vouchers and shifting to virtual cards. With Paytm also entering into Meal Voucher space with their digital offering, it has become imperative for Sodexo to embrace digital in a big way!
Sodexo currently has over 30,000 merchants that accept Sodexo coupons and pans over 11,000 corporate entities. It has the largest share in the Indian market as far as meal coupons are considered.
Zeta brings in a lot of value for Sodexo – the company will be able to do away with paper vouchers in India by the end of this India, as directed by the Reserve Bank of India, and add other tax-saving services like leave travel allowance(LTA), medical benefits and fuel benefits.
All of this will be possible through virtual vouchers offered in collaboration with Zeta. Through a single card, employees will be able to redeem their vouchers, medical services and LTA benefits received from a company.
“The aim is to provide the meal voucher benefits of Sodexo and merge it with the other benefits of Zeta such as LTA, medical benefits, meal and fuel. This will bring together the strong technology solution of Zeta with the market know-how and reach of Sodexo,” said Stephane Michelin, CEO – Sodexo Benefits and Rewards Services India.
The card offered to employees can be used like a debit card, and through this tool, they will also be able to offer more solutions which could not have been possible with paper vouchers.
“In partnership with Sodexo, we can reach a larger number of clients and customers, faster and help them benefit from the savings and simplicity our technology can offer,” said Bhavin Turakhia, Co-Founder – Zeta.
With this partnership, Sodexo aims to see a 30-40% growth in usage of its meal vouchers for tax saving benefits. This partnership could also be extended to regions other than India which means that India is an extremely important market.
If you have ever used Sodexo, you would know how handy it comes in fast-food chains or grocery shops where it can replace physical money. The same way, a card will replace these vouchers, so that you can use them digitally and carry all your coupons in one place. It will not only improve the customer experience but also reduce the hassles for you.