Paytm invests in loyalty programme startup MobiQuest
The mobile wallet and e-commerce company Paytm has invested an undisclosed amount in Mobiquest Mobile Technologies, a Noida-based startup in the mobile loyalty and data analytics space.
MobiQuest has several other products on offer, besides M’loyal, and works with clients across government, commercial and banking & finance sectors.
The investment is to create better analytics capabilities for the sellers on the platform who can leverage MobiQuest’s data analytics and precision marketing tools to acquire, engage, and reward customers.
M’loyal lets merchants set up omni-channel brand loyalty program, which could be points based, frequency based, discount based, multi-tier, item based, etc. “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”.
Paytm is accepted at over five million merchants including all major brands and small shops spanning across categories like grocery, fashion, pharmacies, malls and F&B. “In the next phase, we aim to enable them with tools that will help them drive incremental sales and revenues”, said Sudhanshu Gupta, vice-president at Paytm.
“Over the a year ago, we have enabled our partnered offline merchants with Paytm’s QR code based payment solution”.
“Our partnership with MobiQuest will help us offer mobile based loyalty programs to our partnered merchants”.
Earlier this week, Paytm also tightened norms for the sellers that it on boards to ensure quality and even delisted almost 85,000 sellers who failed to match up to its quality standards.
Source: Hoyen TV, Wed, Jul 19 2017