Sodexo-Zeta collaborate to offer fuel, medical, travel allowances online

Paper voucher company Sodexo has joined hands with financial technology service provider Zeta to offer smartphone-based technology solutions to its clientele and their employees. Sodexo has been a significant player in the meal voucher and employee gifting sector in India.

While Sodexo will bring its business-to-business sales expertise to the partnership, Zeta will have its technological expertise to contribute. The collaboration was formed in light of the directive by Reserve Bank of India (RBI) to do away with paper vouchers. Its joint endeavour with Zeta will help Sodexo with handling technical aspects of replacing paper voucher with digital alternatives by the end of this year, as mandated by RBI.

Sodexo holds the biggest market portion in the meal voucher and employee gifting sector in India with around 30 lakh consumers across 11,000 corporate entities and 30,000 merchant outlets subscribing to its card and voucher services across the country. The partnership will also help Zeta in expanding its customer base manifold as it will be accepted wherever Sodexo exists.

After shifting over to digital means, employers will be able to pay benefits like leave travel allowance (LTA), medical, fuel allowances and many more through vouchers, which was not possible with paper medium.

The system will function through QR code acceptance or point of sale terminals. Sodexo has installed the required technical infrastructure at 700 locations and 800 more will be covered in the coming six weeks, according to an Economic Times.