We know almost everytime Paytm brings a cashback offer. In this cashback offer many times you don’t get the cashback but now with each transaction, you will get something. You have to do one transaction and you will get one Loyalty point. which means 1 Loyalty Point= 1 Rupee.
Paytm giant is a Noida based fintech and it has introduced this new feature for its users. “Paytm Loyalty Points” can be collected by the users and they can use it in all the platforms and also in the offline merchant base of Paytm.
The Senior Vice President of Paytm, Deepak Abbot said, “This will further encourage our users to keep transacting using Paytm, and drive business growth for our merchant partners.”
Just a few days earlier Paytm announced that the QR feature now allows you, offline merchants, to accept unlimited payments to their bank account with 0% charge.
The Loyalty points feature is not a new one if you know. Mobikwik was the first one who introduced its Loyalty program with the offer of “SuperCash”. In this offer of Mobikwik, the Supercash was used in the next recharge. So, the Loyalty Points feature is same as Supecash.
So, guys, I hope now you have got what does the Loyalty points mean? If you have any queries then comment in the comment section below.
The Loyalty Programmes Circle- An Overview
Loyalty points are not new. Credit and debit card companies, airlines and ecommerce companies have been offering these points for quite some time now. Startups like fresh produce retailer iOrderFresh, online travel company GoIbibo and medicines seller 1MG also have similar programmes in place so as to retain their existing consumers.
Among wallet players, Mobikwik was the first one to introduce its loyalty programme, through which the users get ‘Supercash’. Users can deduct 10% of the accumulated Supercash on every transaction, both online and offline, ensuring some saving on every transaction.
Paytm, which make a $470 Mn (INR 3000 Cr) business in India, has now joined the loyalty points bandwagon as well.
And Earlier in July 2017, Noida-based startup MobiQuest Mobile Technologiesraised an undisclosed amount of funding from Paytm. The investment was concentrated on MobiQuest’s loyalty platform m’loyal.
MobiQuest operates in the mobile loyalty and data analytics space. It enables retailers and B2C businesses to acquire, engage, and reward their customers. The investment enabled the sellers of Paytm to design customised multichannel loyalty programmes to increase their consumer base.
Paytm is leaving no stone unturned to digitise payments throughout the country. With the newly launched loyalty scheme, it will further cater to the 200 Mn+ users on its platform.