PayU partners with India's largest loyalty and engagement company, Loylty Rewardz, for enhanced and seamless reward point redemption
NEW DELHI, April 4, 2024 /PRNewswire/ — PayU, one of India’s leading digital financial services providers, has announced its partnership with the country’s largest customer engagement & loyalty solutions provider, Loylty Rewardz. Through a module called Rewardz Hub, customers from over 20 bank and retail loyalty programs managed by Loylty Rewardz can now also earn & redeem reward points seamlessly on their online transactions processed by PayU.
Rewardz Hub is integrated into the PayU online checkout page, so customers can easily access and utilize their reward points and use PayU’s wide range of payment options to cover any balance amount. This offers enhanced convenience, greater affordability, and superior shopping experiences on nearly 35,000 brand websites like Westside, Samsung, EazyDiner, boAT, Havells, Forest Essentials, Cottonworld, Levi’s, Esbeda and more.
With Rewardz Hub, e-commerce brands can reach customers with reward points worth overall INR 20bn accrued through Reward Programs of State Bank of India, IDFC First Bank, Federal Bank, IDBI Bank, Bank of India, YES Bank, Union Bank of India, Canara Bank, Indian Bank, AU Small Finance Bank and more. This redemption integration will help e-commerce brands to foster brand loyalty through increased transaction frequency and value.
Nikhil Mehta, Senior Vice President – Partnerships & Payments Strategy – PayU, said, “Our integration with Loylty Rewardz is set to transform the customer experience for the 2 million+ redemption transactions processed monthly across its extensive network. This will enhance retention rates significantly for partner brands & banks. By combining our wide distribution reach of e-commerce brands & robust payments stack (over 150 payment methods) with Loylty Rewardz’s industry-leading loyalty points infrastructure, we are creating the country’s largest, most seamless, and most rewarding transaction environment for engaged users.”
Amresh Acharya, MD & CEO – Loylty Rewardz, said, “At Loylty Rewardz, we are committed to pushing the boundaries of customer loyalty. Partnering with PayU is a pivotal point in our strategy to drive higher customer engagement by integrating industry-leading payment solutions with loyalty and engagement solutions like ours. We are confident that this partnership will significantly enhance customer satisfaction on online purchases across a large network of brands, creating reciprocal benefits for customers and e-commerce brands.”
About PayU
PayU, one of India’s leading digital financial services providers with Prosus as an investor, operates businesses that are regulated by the Reserve Bank of India and offers advanced solutions to meet the digital payment requirements of the Indian market. PayU India companies aim to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of customers through technology solutions.
PayU provide payment gateway solutions to online businesses through its cutting-edge and award-winning technology and has empowered 5 lakhs+ businesses, including India’s leading enterprises, e-commerce giants and SMBs. It enables businesses to collect digital payments across 150+ online payment methods such as Credit Cards, Debit Cards, Net Banking, EMIs, pay-later, QR, UPI, Wallets, and more. It’s a preferred partner in the affordability ecosystem, offering the maximum coverage of issuers and easy-to-implement integrations across card-based EMIs, pay-later options and new-age cardless EMIs. PayU offers e-commerce brands best-in-industry success rates while ensuring a seamless checkout experience.
About Loylty Rewardz
Loylty Rewardz, founded in 2008 is a leading loyalty and customer engagement company.
Loylty designs and manages loyalty and customer engagement programs for 20+ banks and brands and empowers 60+ large retail brands with outcome based end-to-end loyalty solutions to enhance their customer experiences with a gamut of data-driven, MarTech and technology-led products and services.
Loylty Rewardz has collaborated with PayU to offer the redemption module ‘Rewardz Hub’ which will enable customers across its 500mn+ loyalty program accounts to redeem points online across an even larger network of retail partners throughout the country.
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