Bangalore: Twid, a revolutionary rewards-based payment network and GoKwik, a leading eCommerce enabler, have entered into a strategic partnership to expand loyalty and reward programmes usage across GoKwik network of D2C brands. The partnered integration has already been rolled out to 90+ brands in the GoKwik network, including Snitch, Adilqadri, Bacca Bucci, Neemans, and Sanfe to name a few. This collaboration will unlock a wider universe of discounts and loyalty points for brands to offer their shoppers, increasing their delight while contributing to the brand’s revenue growth.
Through this partnership, 100 Mn shoppers in the GoKwik network will be able to access loyalty and reward points provided in the Twid network (Flipkart SuperCoins, Intermiles, PAYBACK (now Zillion) points, Debit/ Credit Card reward points etc) at the checkout, resulting in extra savings on every purchase. D2C brands will provide the option to the shoppers to redeem highest available reward points from the network of Twid’s reward issuing partners, resulting in increased customer lifetime value by upto 30%. This will also lead to higher prepaid conversions, as shoppers would want to enjoy benefits of these rewards and pay online, ultimately reducing RTO (returns before delivery) and enabling brand growth. Not only this, Twid’s reward issuing partners will get access to GoKwik’s deepest network of D2C brands, increasing their reach and revenue.
Commenting on the partnership, Amit Koshal, CEO & Co-founder at Twid said, “We’re thrilled to partner with GoKwik and empower our users to unlock the true value of their rewards while shopping online. This integration creates a whole new shopping experience, offering convenience and maximizing benefits for both customers and brands. With the vast network of GoKwik, we intend to further amplify our partnership and reach with Issuers and their customers”
The partnership seamlessly integrates reward points into merchants’ platforms using GoKwik’s one-click checkout. This eliminates the hassle of managing multiple loyalty programs and allows shoppers to leverage their accumulated points directly at checkout. The result is an elevated shopping experience with maximized benefits and convenience.
“Customer retention continues to be the core focus for D2C brands as cost of acquisition is increasingly rising in this hyper competitive landscape. Offering unique loyalty and reward points is one of the best ways for brands to increase retention, enhance loyalty and chart a sustainable growth for themselves. Partnering with Twid and enabling rewards on our checkout delivers a superior shopping experience for customers and helps brands increase their prepaid transactions and customer LTV.” said Chirag Taneja, Co-Founder and CEO, GoKwik.
About Twid:
Founded in 2020 by Amit Koshal (Co-founder & CEO), Rishi Batra (Co-founder & COO), and Amit Sharma (Co-founder & CTO), Twid has built a rewards-based payment network turning reward points into a fully fungible currency that can be used for anything, anywhere. With affiliations to notable names like Axis Bank, YES BANK, IndusInd Bank, Flipkart Supercoin, Intermiles, and Payback, among others, Twid boasts access to a substantial points pool of approximately $2.2 billion. These accumulated points are currently being utilized at a vast network of over 100,000 merchants across India. The company received Series-A funding of $12 Mn led by Rakuten Capital and Google. Twid is part of the VISA Accelerator Program 2023 to co-create the industry’s first innovative payment solutions.
About GoKwik:
Founded in 2020, GoKwik is an eCommerce enablement company focusing predominantly on unlocking growth for eCommerce brands by solving crucial challenges across the eCommerce funnel, helping eCommerce brands provide a seamless shopping experience to their customers, expanding COD penetration across cities and towns, reducing return to origin (RTO) for their partners, and ensuring overall growth through conversational commerce across the funnel using WhatsApp. GoKwik has the deepest network data of 100 Million shoppers through which it has helped 4000+ brands increase conversions, reduce RTO, boost GMV and prepaid success rate, thereby increasing overall growth potential for these brands.
It is helmed by Chirag Taneja (Co-Founder and Chief Executive Officer), Vivek Bajpai (Co-Founder and Chief Technology Officer), and Ankush Talwar (Co-Founder and Chief Data Scientist). GoKwik’s team has deep knowledge in the space of eCommerce with people having previous experience in Flipkart, Razorpay, Swiggy, Myntra, Nykaa, and more.
