Paytm invests in MobiQuest
BENGALURU: Digital wallet and online retail player Paytm has invested an undisclosed amount in Noida-based MobiQuest Mobile Technologies.
The company, which works in targeted marketing using data analytics and consumer loyalty programmes, will help merchants on the Paytm platform target consumers through these programmes.
Incorporated in 2007, MobiQuest offers a self-serve plat form called M’loyal, which has 200 brands as clients and a database of 80 million consumers. With the M’loyal platform, which is available for brands across retail, F&B, fashion, malls, health and wellness and hospitality, sellers on the Paytm platform can sign up for precision marketing across online and offline channels.
“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 mer chants,” said Sudhanshu Gupta, vice-president at Paytm. The company will continue to operate as a separate entity post its partnership with Paytm.”
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 of MobiQuest.