The co-branded benefit solution can be used exclusively for purchase of food at outlets chosen by Sodexo, thus helping employees to save on taxes
MUMBAI, Oct. 15, 2019 /PRNewswire/ — IDFC FIRST Bank and Sodexo, the leader in employee benefit services, announced a co-branded digital meal benefit solution that makes payments for food easier and also enables users to save on taxes related to meal expenses.
Corporate employees with salary accounts in IDFC FIRST Bank can now have access to Sodexo’s digital suite of employee meal benefits, which will enable them to get exciting deals and discounts at restaurants, while also helping them claim tax exemption for meals as per existing tax laws.
Amit Kumar, Head – Retail Liabilities, IDFC FIRST Bank, said, “The meal benefits solution is a powerful combination of convenience and digital experience. The IDFC FIRST Bank and Sodexo meal card is a unique proposition meant exclusively for purchase of food items, thus enabling salaried individuals to accurately track meal expenses. It unlocks the potential of digital transformation in the meal benefits space and strengthens our Bank’s offering to corporate clients.”
Anish Sarkar, CEO, Sodexo Benefits and Rewards Services India said, “Our partnership with IDFC FIRST Bank during the last one year has helped us achieve great results through the gift card and this partnership will now enable Sodexo to extend its digital meal benefits to millions of new users, who will get access to Sodexo’s proprietary meal network of 1,00,000+ points of acceptance across 1,700+ cities offering greater choice.”
The meal card is an extension of the existing partnership between IDFC FIRST Bank and Sodexo for the co-branded gift and rewards cards, which won the award for the best co-branded gift card at the Payments and Cards Summit in 2018 and 2019.
IDFC FIRST Bank offers banking solutions backed by new-age technologies to individuals, entrepreneurs and small businesses. Its suite of digital offerings is aimed at making banking simpler, intuitive and engaging. The Bank customises solutions for corporates with the singular intent of creating superior experiences for clients and their employees.
About IDFC FIRST Bank
IDFC FIRST Bank was founded by the merger of IDFC Bank and Capital First in December 2018. The Bank provides a range of financial solutions to individuals, small businesses and corporates. The Bank offers savings and current accounts, NRI accounts, salary accounts, demat accounts, fixed and recurring deposits, home and personal loans, two wheeler loans, consumer durable loans, small business loans, forex products, payment solutions and wealth management services. IDFC FIRST Bank has a nationwide presence and operates in the Retail Banking, Wholesale Banking and other banking segments. Customers can choose where and how they want to bank: over 300 bank liability branches, 102 asset branches, 199 ATMs and 520 rural business correspondent centres across the country, net banking, mobile banking and 24/7 toll free Banker-on-Call service. For more information, please visit www.idfcfirstbank.com
About Sodexo Benefits and Rewards Services India
The Sodexo group works towards improving the quality of daily life for employees, partners, and customers across the world. Sodexo Benefits and Rewards Services India is a 100% digital India’s No.1 Employee Motivation & Benefits Services provider, is a partner to over 11,000+ companies in public and private sectors. Our Employee Benefit Solutions are customized to meet specific needs of organizations and help them develop their best-motivated workforce. Sodexo BRS offers a range of employee benefit solutions. The meal benefit offerings include the Meal Pass card and Cafeteria Pass card. The company’s Gifting & Recognition offerings include the Premium Pass Celebrations card for festivals & special occasions and Premium Pass Rewards card for ongoing rewards and recognition programs.
Recently launched Multi-Benefit Pass is the most compliant and 100% digital employee benefit solution with which organizations can offer all employee benefits on one innovative card. Sodexo reaches out to 3 million consumers across 1,700+ cities nationally and its’ solutions are designed to drive superior employee experience at workplace and beyond.
For media queries, contact:
IDFC FIRST Bank
Sodexo Benefits and Rewards Services, India
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