Infibeam Avenues' CCAvenue partners With Loylty Rewardz for reward point redemption

Fintech company Infibeam Avenues's flagship payment brand CCAvenue has partnered with Loylty Rewardz, as the company expects to garner the lion’s share in the burgeoning Indian consumer engagement space.

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

"We at CCAvenue staunchly believe in providing our business partners with the latest fintech innovations along with new age payment methods that drive revenue," said T. Nandakumar Menon, Sr. Vice President - Alliances and Operations, Infibeam Avenues Ltd.

“Our win-win partnership with Loylty Rewardz will enable consumers to easily access and utilize their reward points while shopping on innumerable merchant websites powered by CCAvenue payment gateway. This collaboration will boost customer retention considerably for our partner brands, thereby fuelling growth of their online businesses.”

What does Loylty Rewardz do?

Founded in 2008, Loylty Rewardz is an Indian customer engagement company delivering end-to-end loyalty solutions. 

Loylty designs and manages loyalty and customer engagement programs for 20+ banks and brands and empowers 60+ retail brands with outcome-based loyalty solutions to enhance their customer experiences with a gamut of data-driven, MarTech, and technology-led products and services.

Loylty Rewardz has partnered with CCAvenue to offer the redemption module 'Rewardz Hub', which will enable customers across its 500 million+ loyalty program accounts to redeem points online across its network of retail partners throughout the country.

The loyalty programme market in India is expected to touch $5.37 billion in 2024 and $8 billion by 2028. It may almost double by 2033, touching $14.5 billion. 

“With rising consumption and income levels of consumers, the loyalty industry in India is poised for accelerated growth,” said Amresh Acharya, Loylty 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.

Leadership comments 

Commenting on this partnership, Amresh Acharya said, “At Loylty Rewardz, we are dedicated to innovation in consumer engagement. Our alliance with CCAvenue, a leading payment aggregator, will enhance customers’ shopping experience through intuitive and seamless reward point redemption in sync with secure and efficient payment processing.”