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PayU & Loylty Rewardz to boost reward points-led shopping experience

By Gloria Mathias

April 05, 2024

  • AU Small Finance Bank
  • Bank of India
  • boAT
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PayU, Online Payments, e-commerce, Financial Inclusion, PCI Compliance, Risk Management, Transaction Risk, Central America, Loylty Rewardz, Westside, Samsung, EazyDiner, boAT, Havells, Forest Essentials, Cottonworld, Levi's, Esbeda, 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, fintech news fintech IndiaPayU, India’s digital financial services provider, has partnered with the 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 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, eCommerce 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 eCommerce brands 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.”

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