19 November 2016 Current Affairs: Yes Bank has partnered with Crownit, amerchant discovery and privileges platform, to launch digitised 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 .
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.
Ritesh Pai, Senior President and Country Head Digital Banking, 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 benefit.