What Digital Meal Benefit Means to Corporate Employees?
IDFC First Bank, a financing institute in India, collaborates with Sodexo, a French food services and facilities management company. This partnership is initiated with the intention to introduce a digital meal benefit solution, with an aim to simplify the food payment process, cutting down the taxes associated with the meal expenses.
"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 the purchase of food items, thus enabling salaried individuals to track meal expenses accurately. It unlocks the potential of digital transformation in the meal benefits space and strengthens our bank's offering to corporate clients," says Amit Kumar, Head - Retail Liabilities, IDFC FIRST Bank.
Corporate employees holding salary accounts in IDFC First Bank would be eligible for the Sodexo's digital meal benefits for employees. This digital meal benefit claims to offer exciting deals & discounts at restaurants. Furthermore, it would also enable the employees to claim their tax exemption for meals, according to the existing tax laws.
Sodexo and IDFC First Bank's partnership is best known for its offers, such as co-branded gift and reward cards. Through the collaboration, both the companies have won an award for the best co-branding gift card at the payments and Cards Summit in 2018 and 2019. The digital meal benefit would be an add-on to this existing partnership.
IDFC First Bank provides the latest technology infused banking solutions to individuals, entrepreneurs, and SMEs. With these modern digital facilities, the bank is aiming to make the banking process simpler, spontaneous, and engaging. All these improvisations will be brought in to offer superior experiences for the bank's clients as well as its employees.
"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," states, Anish Sarkar, CEO of Sodexo Benefits & Rewards Services India.