Business Addresses 'Rewards Payment' Challenges for Retailers, Partnering with Some of the Biggest Retail and Financial Partners

Feb 12, 2024

Mumbai (Maharashtra) [India], February 12:, the world's first cross-reward-programme-identifier, operated by Enigmatic Smile, addresses the issue of wasted reward budgets for retailers in the payment linked rewards space. will provide a consolidated End User identity across the entire retail rewards space. This innovation correctly tracks, and attributes, every payment linked offer, claimed by every connected consumer, across all connected rewards programmes. The clarity which brings to the entire offer industry, both in-store and online, cannot be underestimated.
The service has partnered with 30 of the country's biggest brands including McDonald's and Shoppers Stop to provide a holistic view of all consumer payment linked reward redemptions. NDTV Big Bonus has already onboarded 250K consumers. Now, Sarvatra Technologies, itself representing over 600 banks in the country, aims to onboard the next 20 million end users. When retailers are able to correctly attribute payments-linked rewards transactions, guaranteeing no double payments of rewards, they can confidently utilize the channel to reward their current customers, as well as reach out to millions more.
With, payment linked offers become seamless, connecting shoppers existing credit cards and debit cards to rewards, and with Sarvatra now introducing offers on UPI payments, provide a holistic market penetration of unmatched scale.
* Enigmatic Smile's service will save retailers paying out multiple times on every payment-linked rewards transaction to anonymous PAN numbers, by providing a consolidated End-User Identity across all rewards programmes and connected cards.
* Bringing its international experience in the field to the Indian market, allows retailers to provide direct to consumer offers across all credit and debit card holders. This is in stark contrast to the existing market where offers are only able to be attributed to card PANs.
* Shoppers Stop and Sarvatra Technologies are amongst the county's biggest names joining hands with to help rescue retailers depleting ROIs in the rewards space. It re-establishes the direct merchant to consumer relationship that is crucial for true brand loyalty, whilst providing reward programmes with access to a growing roster of India's largest brands. Brand ambassador MS Dhoni graced the occasion with his presence.
Whilst customers collect value seamlessly across multiple brands, now makes rewarding customers risk free for retailers. It does this by functioning as a universal identifier across various reward programs for individuals and their payment cards.
"Attributing the source of an offer claimant is very hard in the payment linked rewards space. One payment generates only one transaction so it should only generate one reward, but this isn't always the case. A lack of clear attribution for payment-linked rewards results in retailers paying out multiple times on each transaction, depleting their ROI and creating a strong resistance to participating in multiple Reward Programmes. Enigmatic Smile solves this very real concern for retailers with the service. It provides a comprehensive, collaborative, End User identity, something no other competing reward system has achieved!" said Bish Smeir, CEO, Enigmatic Smile.'s consolidated End User identity, drawn from multiple sources, offers immense long-term value to reward programs, retailers and consumers alike. Any reward programme can "plug in" instantly and access offers from all connected brands.
"We are delighted to collaborate with our new partner Sarvatra Technologies. Through this collaboration, we aim to enhance and simplify the loyalty experience for retailers, enabling them to participate in multiple reward programmes by eliminating double dipping risk," added Chandra Bhushan, Country Head, Enigmatic Smile.
Brand ambassador MS Dhoni graced the event where Sarvatra Technologies launched their new app in association with Enigmatic Smile. Speaking on the occasion, Mandar Agashe, Founder & MD of Sarvatra Technologies said, "Since inception, the focus of Sarvatra Technologies has been to extend the benefits of new age payment services to the underbanked semi-urban and rural population of India. I am excited that our tie-up with will allow our client banks operating in semi-urban and rural India across 27 States and 3 Union Territories to reward their customers. Our client banks using our UPI switch and Rupay Debit Cards platform benefit by enhancing customer satisfaction and loyalty via Sarvatra Rewards. And, in turn, the bank customers stand to double their benefits, as they will earn rewards from not just their UPI PSP app, but from their banks as well, every time they use their UPI or RuPay Debit Card to shop. It is a win-win for all the participants in the Sarvatra Rewards program and marks a step forward in India's digital growth journey." consolidates reward balances across multiple reward programmes with a single sign-in. links all participating reward programmes and consolidates a customer's identity, permissions, consents and balances.
Enigmatic Smile was founded in the United Kingdom in 2014 by Bish Smeir. It is present across 5 continents, integrated with 27 financial services organisations, and is a QSA assessed, PCI Level 1 service provider. Its technology sits in the background of many high-profile reward programmes, operated by a growing number of loyalty companies around the world. The brand recently launched in India with the view of a building India's most efficient rewards economy through its unified rewards product -
Sarvatra Technologies is India's leading new-generation payments platform for financial institutions such as banks and fintechs. Sarvatra has played a pivotal role in facilitating the participation of 700+ banks (over 50% of all banks) spanning 27 Indian States and 3 Union Territories in the national payments ecosystem, leveraging on its distinctive Software as a Service (SaaS) model. It has several firsts to its credit, including one of India's first UPI switches, India's first IMPS and first AePS switches, and India's first ASP for small banks and offers a comprehensive payment product stack to banks and enterprises, including UPI, AePS, IMPS, BBPS, eKYC, EFT, POS, ECOM, Debit Cards, Mobile Apps, Self Service Platform, Micro ATM, and Cloud CBS. The company manages a significant portion of the total transaction volume generated on UPI and IMPS nationally.
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