BENGALURU: Multi-brand loyalty management company Payback plans to expand its presence across neighbourhood stores through partnerships with firms deploying point-of-sales terminals to enhance the frequency of customer transactions on its platform.
The American Express-owned company is seeking partnerships across sectors including grocery, fuel, electronics, furnishing and travel. It has already struck partnerships with stores such as gifting retail chain Archies.
“Payback help customers redeem loyalty points across organised retail and large partners. Now, the strategy is to expand the acceptance infrastructure to smaller neighbourhood stores as well,” said Rijish Raghavan, chief operating officer, Payback. “We have already struck a partnership with (PoS deploying company) Pine Labs to enter into that segment and are planning to get more such partnerships.”
Payback has so far partnered with more than 100 retail chains. “We are going with our integrated model where customers can both earn as well as redeem points at these stores while making purchases,” said Raghavan. Payback, with 2.5 million monthly customer visits to its website, also has a few affiliate partners to drive traffic to their businesses, according to the company.
About “91% of commerce in the country actually happens at neighbourhood stores but the challenge with integrating these entities is that they mostly do not have integrated payment terminals,” said Raghavan.
Source: economictimes.indiatimes.com