CCAvenue and Loylty Rewardz Join Hands to Enhance Engagement

Infibeam Avenues’ primary payment brand, CCAvenue, has joined with Loylty Rewardz, as the company seeks to dominate the expanding Indian consumer engagement industry.

Amresh Acharya, MD & CEO of Loylty Rewardz, and Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd, signed the agreement on the sidelines of the Global Fintech Fest (GFF) 2024 in Mumbai.

Amresh Acharya commented on the arrangement, saying, “At Loylty Rewardz, we are committed to innovation in consumer engagement. Our collaboration with CCAvenue, a prominent payment aggregator, will improve customers’ purchasing experiences by providing intuitive and seamless reward point redemption in conjunction with secure and efficient payment processing.”

“Our win-win agreement with Loyalty Rewardz will allow customers to quickly access and use their reward points while purchasing on numerous merchant websites enabled by the CCAvenue payment gateway. This partnership will significantly increase consumer retention for our partner brands, ultimately driving growth in their online operations.”

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Loylty Rewardz, founded in 2008, is an Indian customer engagement firm that provides comprehensive loyalty solutions.

Loyalty creates and maintains loyalty and customer engagement programs for over 20 banks and brands, and it provides 60+ retail brands with outcome-based loyalty solutions to improve their customer experiences through a range of data-driven, MarTech, and technology-led goods and services.

Loyalty Rewardz has teamed with CCAvenue to provide the ‘Rewardz Hub’ redemption module, which will allow customers with over 500 million loyalty program accounts to redeem points online through its network of retail partners across the country.

“With rising consumption and income levels of consumers, the loyalty industry in India is poised for accelerated growth,” said Amresh Acharya, Loyalty Rewardz, adding that the growing spending power of the Indian consumer is prompting many global and domestic brands to chase a larger share of India’s market, thus expanding loyalty and engagement solutions in the market.

“We at CCAvenue are committed to providing our business partners with cutting-edge fintech innovations as well as new payment methods that drive revenue,” said T. Nandakumar Menon, Sr. Vice President – Alliances and Operations, Infibeam Avenues Ltd.

The loyalty programme market in India is anticipated to reach $5.37 billion in 2024 and $8 billion by 2028. It may nearly quadruple by 2033, reaching $14.5 billion.