Edu-fintech company, LEO1 introduced its numberless prepaid student ID Card in partnership with NSDL Payments Bank and Mastercard as part of its Financial SAAS for Educational Institutions.  

The newly launched serves as a secure prepaid card and a student ID card, marking a significant step in digitising financial transactions in educational institutions, rewarding responsible behavior, and promoting cashless campuses, the company said in a release.  

The card is powered by Mastercard to ensure a safe and secure payment experience for students and educational institutes. 

LEO1 facilitates financial operations for educational institutions through its comprehensive Financial SAAS platform, empowering institutions with streamlined fee collection, enhanced transparency, and real-time insights. 

Rohit Gajbhiye, founder and managing director of LEO1, expressed anticipation about the collaboration, emphasising the mission to make quality education universally accessible.  

Gautam Aggarwal, division president, of South Asia at Mastercard, said, “Backed by Mastercard’s promise of safe and secure transactions along with exciting rewards and deals, this new card will help in digitising the education ecosystem.” 

“Strategically targeting the 18-23 age group, the collaboration extends beyond financial transactions, aiming to cultivate a digital mindset and foster responsible digital behavior and financial literacy among the youth,” he added. 

Mumbai-based LEO1 (formerly Financepeer) offers innovative Fee Payment solutions, allowing parents to pay education fees in multiple installments at zero additional cost.