Myntra Collaborates with Twid to Offer Reward Point Payments

The massive fashion e-commerce company Myntra and the rewards-based payment network Twid have established a strategic alliance.

Through the arrangement, shoppers will be able to utilise their reward points to make purchases on Myntra, which is intended to revolutionise their shopping experience.

Customers' purchasing power will be increased by the "Pay with Rewards" structure, which will enable them to easily combine their loyalty and reward points from different banks and businesses.

The goal of the Myntra and Twid relationship is to enable customers to apply their reward points that they have accrued at checkout, thereby unlocking huge savings. Consumers can use points from several debit/credit card rewards programmes, Intermiles, PAYBACK (formerly Zillion), and TimesPoint.

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During Myntra's recent End of Reason Sale (EORS), the integration was particularly useful as customers were able to take advantage of significant additional savings on their purchases, hence increasing their purchasing power.

Twid has established a strong network of rewards-based payments. It converts reward points into completely fungible money that can be used for a range of transactions with more than 100,000 Indian merchants.

Amit Koshal, CEO & Co-founder of Twid, said: "We are excited to join forces with Myntra and provide their valuable customers with a rewarding shopping experience. With the power of rewards, we are empowering customers and Myntra with a mutually beneficial channel that will define a new path for customer delight and provide the best value for their customers."

Santosh Kevlani, Head of Monetization, Payments & Fintech at Myntra, said: "Our partnership with Twid not only enhances our customers' shopping experience by allowing them to redeem their reward points seamlessly but also brings significant value to Myntra. By increasing the share of prepaid orders, we've seen a notable improvement in order fulfillment rates, reinforcing our commitment to providing exceptional value and convenience to our customers,"

About Twid

Founded in 2020 by Amit Koshal, Rishi Batra, and Amit Sharma, TWID is pioneering the future of digital currencies with its innovative fintech solutions that solve real-world problems.

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