Paytm has invested in Mobiquest, a Noida-based loyalty programme startup that services over 80 million consumers. Mobiquest’s M’loyal platform tracks consumer data from points-of-sale as well as social media, mines that data, and offers rich insights to over 200 brands. M’loyal also gives these brands a mobile-based platform to manage their campaigns and offers. Paytm hasn’t revealed the amount of investment.
Mobiquest is able to track how customers are paying for their purchases. This will help Paytm ascertain the number of mobile wallet transactions happening through the app or via QR codes. “Over the last year, we have enabled our partnered offline merchants with Paytm’s QR code-based payment solution. In the next phase, we aim to enable them with tools that will help them drive incremental sales and revenues,” Paytm’s vice-president Sudhanshu Gupta said in a statement. ALSO READ: Paytm acquires majority stake in events ticketing platform Insider.in
Paytm is accepted by 5 million merchants who will now be able to leverage Mobiquest’s expertise in data analytics, and better acquire, engage and reward their customers. Merchants will be able to design customized multi-channel loyalty programmes that will help them optimize costs, maximize reach and increase revenues. “Our teams are dedicated to the mission of using real-time transaction data to drive meaningful insights for the brands and consistently drive up their Marketing ROI,” Vineet Narang, CEO of Mobiquest, said.
Mobiquest was founded in 2008 and has operations in Malaysia, Singapore and Dubai too. The firm has handled over $2 billion in transactions for 100+ brands, according to its website. M’loyal traks over 4,000 retail stores and has clients including fashion brands AND, Mochi, Gini & Jony, food chains Dominos, Pizza Hut, and so on. ALSO READ: Paytm to now focus on travel, hotels and movie ticketing with multiple offers and discounts