Mobile Loyalty Firm MobiQuest Bags Investment From PayTM
One of the leading digital payment startups, PayTM has pumped in an undisclosed amount in MobiQuest Mobile Technologies, a loyalty firm. The Noida-based company, which uses data analytics and consumer loyalty programmes will help merchants on the PayTM platform target consumers through these programmes. The company will continue to operate as a separate entity post its partnership with Paytm.
This association will power Paytm partnered merchant network to leverage Mobiquest’s data analytics & precision marketing solution in acquiring, engaging and rewarding its customers. With this solution, merchants will soon be able to design customized multi-channel loyalty programs which will enable them to retain and engage their consumer base thereby increasing their revenues.
Commenting on the development, Sudhanshu Gupta, vice-president, PayTM said, “In the next phase of growth, we aim to enable our offline partner merchants with tools that will help them drive incremental sales and revenues. Our partnership with MobiQuest will help us offer mobile-based loyalty programs to our partnered merchants.”
Paytm’s partnership with Mobiquest will help its partners to engage with their consumers and leverage the power of mobile technology to widen their consumer base.
Established in August 2008, Mobiquest uses the mobile device to create the largest ecosystem of performance advertising, last mile data capture and data analytics in both digital and offline world through their platform m’loyal. According to the company, more than 100 brands/companies use m’loyal to have one-one connect with their consumers based on actual real time data coming from their Point of Sales (POS). M’loyal platform is available for brands across retail, F&B, fashion, malls, health and wellness and hospitality.
“We are excited to partner with Paytm and leverage the huge consumer base of the platform. Our teams are dedicated to the mission of using real time transaction data to drive meaningful insights for the brands and consistently drive up their Marketing ROI,” said Vineet Narang, CEO, MobiQuest.
M’loyal offers a self-serve mobile enabled loyalty, analytics and campaign management platform to brands across Retail, F&B, Fashion, Malls, Health & Wellness and hospitality among others. M-loyal combines mobile technology with deep drill down analytics to provide higher ROI for marketing spends made by brands.
m’loyal™ today is deployed across more than 200 brands, with over 80 million users on the platform with transactions worth Rs 5000 crore and growing. It not only h the s national presence, but it has expanded its footprint in international markets like Malaysia, Singapore and Dubai.
PayTM, with the current user base of more than 225 million, is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and recently launched Payment Bank. Founded by Vijay Shekhar Sharma, PaTM is headquartered in the National Capital Region, India. Earlier this week PayTM has announced the acquisition of Insider.in. The startup has acquired a majority stake in Insider.in, a ticketing platform for about 35 crores.
Source: Indian Web 2, Jul 18, 2017