Twid and Myntra Unite: Transforming Reward Points into Shopping Power

Twid, a leading rewards-based payment network, and Myntra, a top fashion and lifestyle e-commerce platform, have partnered to let customers pay with reward points. This strategic collaboration aims to enhance customer savings and revolutionize India's rewards ecosystem.

Twid, a prominent rewards-based payment network, and Myntra, a major fashion and lifestyle e-commerce platform in India, have announced a landmark partnership. This collaboration allows Myntra customers to seamlessly utilize their reward points for purchases through a new 'Pay with Rewards' system.

The recent End Of Reason Sale (EORS) by Myntra saw the strategic alliance come into play, enabling customers to redeem loyalty and reward points from various entities – including Intermiles, PAYBACK, TimesPoint, and debit/credit card programs – directly at checkout. This initiative led to significant additional savings for customers, enhancing their purchasing power. 'We are thrilled to team up with Myntra to offer their customers a rewarding shopping experience,' stated Amit Koshal, CEO & Co-founder of Twid. 'This partnership paves a new path for customer satisfaction by combining the strengths of both companies.'

Santosh Kevlani, Head of Monetization, Payments & Fintech at Myntra, commented on the collaboration: 'Our integration with Twid not only improves the shopping experience by facilitating the easy redemption of reward points but also benefits Myntra by boosting the share of prepaid orders. This has notably enhanced our order fulfillment rates, demonstrating our commitment to delivering exceptional value and convenience to our customers.'

Founded in 2020 by Amit Koshal, Rishi Batra, and Amit Sharma, Twid has turned reward points into a versatile currency accepted by over 100,000 merchants nationwide. With support from major banking and financial institutions, Twid hosts a points pool valued at approximately USD 2.2 billion. The company secured Series-A funding of USD 12 million spearheaded by Rakuten Capital and Google and is a participant in the VISA Accelerator Program 2023. As part of the Flipkart Group, Myntra offers over 6000 top fashion and lifestyle brands and serves around 19,000 pin codes across India, aiming to merge technology and fashion for optimal customer experiences.

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(With inputs from agencies.)