Payback India, a BharatPe company, today announced the launch of pay feature on its mobile app. It's an industry-first that integrates QR-based UPI payments and loyalty in a single app.
Members of Payback will earn 50 bonus points on the first UPI transaction via Payback Pay and five Payback points thereafter, on every transaction. Additionally, customers will earn 2X points on transactions done at BharatPe QRs. The points will be credited in the customer's account on a real-time basis.
Furthermore, Payback will next add the feature of redemption of points at BharatPe's QRs at more than 75 lakh merchant outlets and launch the feature on the ioS app.
Ashneer Grover, Co-Founder and Managing Director of BharatPe said, "Last year PAYBACK drove GMV of US$ 8Bn for partner merchants. I would stick my neck out and say the proposition is superior to CRED, MagicPin, FAVE or any other loyalty program in India today. PAYBACK PAY will put customers in the habit of scanning and paying on UPI QRs. Eventually, all redemption and earning of PAYBACK points will happen automatically at BharatPe QRs. PAYBACK points will be a currency as it will be universally accepted."
Rijish Raghavan, CEO, Payback India said that they want to ensure that Payback members can earn loyalty points for their purchases, irrespective of whether they are shopping at a big retail store or at their neighbourhood kirana shop.
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