Twid, a rewards-based payment network, and GoKwik, a leading eCommerce enabler, have entered into a strategic partnership to expand loyalty and reward program usage across the GoKwik network of D2C brands.
Through this partnership, 100 million 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 for shoppers to redeem the highest available reward points from the network of Twid’s reward-issuing partners, resulting in an increased customer lifetime value of up to 30%. This will also lead to higher prepaid conversions, as shoppers would want to enjoy the benefits of these rewards and pay online, ultimately reducing RTO (returns before delivery) and enabling brand growth.
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Amit Koshal, CEO and co-founder at Twid, said, “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 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 the 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 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.
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