Zillion, a significant multi-brand loyalty program in India under the BharatPe Group, unveiled its Rewards-as-a-Service (RaaS) platform, targeting brands with existing loyalty currencies, aiming to offer enhanced redemption experiences. Mr. Rijish Raghavan, CEO of Zillion, emphasized the need for a transformative loyalty industry, stating, “Today, the loyalty industry is democratized and loyalty is not limited to only big brands.”
This newly launched platform enables brands to leverage their own loyalty currencies while providing an extensive redemption platform offering e-Vouchers, Products, Utilities, Air Miles, and more. Raghavan explained, “Our rewards platform with over 250 choices in e-vouchers, over 4000 products, Air Miles etc., will enable these brands to offer a superlative loyalty experience to their customers.”
Zillion’s RaaS aims to streamline redemption processes, eliminating the need for multiple partners to provide varied redemption choices. Operating on a competitive bidding model, the platform ensures customers receive optimal prices consistently.
Highlighting the platform’s significance, Raghavan mentioned, “Rewards-as-a-Service will widen the offering from Zillion and allow us to partner with brands who are looking for pure-play rewards management versus overall loyalty management.”
Zillion (formerly PAYBACK India) stands as a unique loyalty program, enabling customers to earn ‘Zillion coins’ across a network of offline and online partners, spanning various industries such as retail, fuel, banking, payments, entertainment, hospitality, and travel. It collaborates with renowned brands like HPCL, BookMyShow, American Express, Amazon, Flipkart, and others.
The BharatPe Group, founded in 2018, focuses on fostering financial inclusion for Indian merchants. With a registered network of over 1.3 crore merchants across 450+ cities, the company holds a significant position in UPI offline transactions, processing over 370 million UPI transactions.
Additionally, the group has facilitated loans amounting to over Rs. 12,400 crores in partnership with NBFCs and operates a POS business handling payments exceeding Rs. 29,000 crores annually. Having raised over US$583 million in equity, BharatPe has a prominent investor roster including Peak XV Partners, Ribbit Capital, Insight Partners, and Tiger Global.
In significant moves, BharatPe acquired PAYBACK India (rebranded to Zillion) and obtained a Small Finance Bank (SFB) license from the Reserve Bank of India (RBI) in collaboration with Centrum Financial Services Limited. Furthermore, the group ventured into the Buy Now Pay Later (BNPL) segment with postpe, garnering over 15 million downloads. Recently, the Reserve Bank of India granted an in-principle nod for BharatPe Group to operate as an online payment aggregator.
