PayU, a player in the digital financial services landscape, has unveiled a strategic partnership with Loylty Rewardz, the provider of customer engagement and loyalty solutions. The collaboration introduces a pioneering module named Rewardz Hub, allowing customers enrolled in over 20 bank and retail loyalty programs managed by Loylty Rewardz to seamlessly earn and redeem reward points during online transactions processed by PayU.
Rewardz Hub seamlessly integrates into the PayU online checkout page, providing customers with easy access to their accumulated reward points. Customers can utilize these points alongside PayU’s extensive range of payment options to cover any outstanding balance, thereby enhancing convenience, affordability, and overall shopping experiences across nearly 35,000 brand websites. Partner brands include esteemed names like Westside, Samsung, Eazydiner, Boat, Havells, Forest Essentials, Cottonworld, Levi’s, Esbeda, and more.
The integration of Rewardz Hub unlocks access to reward points worth a cumulative INR 20 billion, accumulated through Reward Programs offered by prominent financial institutions such as 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 others. This redemption integration is poised to fortify brand loyalty among e-commerce brands by fostering increased transaction frequency and value.
Mr Nikhil Mehta, Senior Vice President – Partnerships & Payments Strategy at PayU, commented on the partnership, stating, “Our integration with Loylty Rewardz is positioned to revolutionize the customer experience for the 2 million+ redemption transactions processed monthly within its extensive network. This collaboration will significantly bolster retention rates for partner brands and banks. By amalgamating our wide distribution reach of e-commerce brands and robust payments stack (featuring over 150 payment methods) with Loylty Rewardz’s industry-leading loyalty points infrastructure, we are creating the nation’s most seamless and rewarding transaction environment for engaged users.”
Mr Amresh Acharya, MD & CEO of Loylty Rewardz, echoed the sentiment, remarking, “At Loylty Rewardz, we are committed to pushing the boundaries of customer loyalty. Partnering with PayU represents a pivotal milestone in our strategy to enhance customer engagement by integrating industry-leading payment solutions with our loyalty and engagement offerings. We are confident that this collaboration will substantially elevate customer satisfaction levels during online purchases across an expansive network of brands, generating mutual benefits for customers and e-commerce brands alike.”
The collaboration between PayU and Loylty Rewardz is set to redefine the landscape of reward point redemption, offering customers unparalleled convenience and value while fostering stronger relationships between brands and their loyal customer base.
Also Read
Singapore Tourism Board collaborates with Ananya Panday
Watch on Youtube
