Twid was launched in 2020 with a clear goal to unlock the untapped value of reward points and create a system where these points could serve as a legitimate payment method. It was founded by Amit Koshal, Rishi Batra and Amit Sharma.
Solving a Common Problem with a Smart Solution
It is the story of every home where we have countless reward points on different platforms but we hardly ever redeem it. This happens mostly due to inefficiencies in the redemption process. To bridge this very gap, Twid was launched. The success story of this app echoes far and wide with industry experts like Anoop who works as aSenior Manager at Banking Alliance JioMart standing firmly with the company’s services. He commented:
“Since joining forces, JioMart, India’s favorite online shopping platform and Twid – Pay with Rewards team, renowned for their innovative payment solutions have achieved remarkable milestones together, enhancing the shopping experience for millions of customers nationwide. Our collaboration with Twid has introduced exciting rewards programs that add extra value to shopping experience making it delightful and rewarding.”
Rapid Growth and Powerful Partnerships
This rapid growth is evident in its partnerships with major brands like Myntra, JioMart, MakeMyTrip, BookMyShow, with access to a reward pool exceeding USD 2.3 billion. These collaborations have strengthened the company’s position as a credible and scalable solution in the loyalty rewards sector. It has over the night become a trusted player in the industry, connecting over 100,000 merchants, leading financial institutions, and millions of consumers within just a few years.
Merging Reward Points with UPI: A Game-Changer in Payments
Reward points can also be now combined by the users with UPI payments at checkout, turning points into instant savings and reducing out-of-pocket spending. Amit Koshal, Co-founder and CEO of Twid said:
“Twid has scaled phenomenally well in the Online Merchant Payment ecosystem with the help of its ecosystem partners, issuers, merchants and acquirers. With the launch of this app, Twid is adding a new dimension to India’s offline merchant digital payments landscape by turning reward points into 365-day savings for scan and pay payments too. Our aim is to build a more flexible, interoperable, and inclusive payment ecosystem, where consumers have more choice, and businesses unlock more value.”
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