Twid, a fintech innovator in the rewards-based payment ecosystem, has set an ambitious target to double its merchant partner network to 2 lakh by the close of FY25. The company, which recently surpassed the 1 lakh merchant milestone, collaborates with high-profile brands including Swiggy, Myntra, and MakeMyTrip. By converting reward points into a seamless, spendable currency, Twid is revolutionizing traditional loyalty programs. With growing adoption by merchants and reward issuers, and plans to expand further in FY26, the company is positioning itself for a 200% growth trajectory—marking a pivotal shift in the future of consumer engagement and digital payments in India.
Reimagining Rewards: From Points to Payment
Twid, established in 2020, is leading a fundamental transformation in how consumers interact with loyalty programs. At its core, the platform allows users to convert accumulated reward points into a form of universal currency that can be used across a broad network of online and offline merchants. This model addresses a critical gap in traditional loyalty programs, which often suffer from limited redemption options, low frequency of use, and disengaged customers.
Instead of relying on outdated methods like gift cards or infrequent point-to-cash conversions, Twid enables users to make direct payments using reward points at checkout—both digital and physical—via a simple mobile number authentication. This frictionless and frequent use of rewards significantly boosts engagement and loyalty.
A Fast-Growing Merchant Ecosystem
As of March 2024, Twid had already onboarded over 1 lakh merchants—a figure the company now plans to double by the end of the current financial year. Its rapidly expanding network includes some of India’s most recognized consumer brands such as Swiggy, redBus, boAt, Myntra, MakeMyTrip, BookMyShow, Jiomart, Netmeds, Ixigo, ConfirmTkt, and Vodafone Idea.
This expansion strategy not only enhances consumer convenience but also creates a self-reinforcing loop: higher usability of reward points encourages increased participation, which in turn attracts more merchant partners eager to tap into Twid’s loyal user base.
Driving Growth Through Issuer and Partner Integration
Twid’s growth is not confined to merchants alone. The platform is also deepening its integration with both banking and non-banking reward issuers. These issuers benefit from Twid’s technology by witnessing a measurable increase in transactions, which improves their own profitability and consumer retention.
"Traditional rewards operate in silos, leading to underutilization," said Amit Koshal, co-founder and CEO of Twid. "We’ve created a unified experience where users don’t need to remember card numbers or navigate clunky portals. A mobile number is all they need to unlock value from their points—anytime, anywhere."
Twid’s unified architecture makes it easy for partners to onboard, manage campaigns, and deliver dynamic, personalized offers. This strategic collaboration model ensures that all stakeholders—issuers, merchants, and consumers—derive tangible value from the ecosystem.
The Road Ahead: 200% Growth Target by FY26
Buoyed by an expanding partner base and increased transaction volumes, Twid is now targeting a 200% growth by FY26. This growth is expected to be driven by both organic merchant acquisition and deeper partnerships with new rewards issuers that are slated to go live over the next few quarters.
The company’s focus on innovation, scalability, and operational efficiency positions it as a frontrunner in the convergence of loyalty programs and fintech. As India’s digital payments landscape continues to evolve, Twid’s model of reward-point monetization may well redefine the market standard.
Conclusion: Reward Points Become Spendable Currency
Twid’s model exemplifies how the future of consumer engagement lies in turning passive rewards into active currency. By removing barriers to redemption and embedding rewards into everyday spending, the platform is creating a new paradigm in customer loyalty.
For brands, Twid offers a powerful tool to drive frequency and engagement. For consumers, it transforms the humble reward point into a powerful, usable asset. And for the payments industry at large, it signals the dawn of a new value layer—one that could redefine how transactions, incentives, and digital commerce intersect.
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