Rewards-Based Payments Platform TWID Enters into Strategic Alliance with Ola Money

TWID, the Reward based Payment Network app that seamlessly pools multiple loyalty/reward points of banks, retail, entertainment, F&B, travel, etc and makes them redeemable for consumers, has partnered with Ola Money to offer its wallet balance on twid network and seamless checkout option. Through this association, customers will be able to make purchases at any of the TWID’s partner brands with their Reward Pool, Ola Money wallet and post-paid balance in a single click checkout. They can settle the payment made from their Ola postpaid once in 15 days.

A mobile-first platform, TWID empowers its users to track all the rewards and loyalty points at one place, and spend them just like cash across many online and offline retail stores, making their existing and future reward points valuable.  By teaming up with Ola Money, one of the largest digital wallets in the country, TWID endeavours to leverage the convenience of easy payment checkout and ensure a simple and seamless payment experience for consumers shopping through its platform.

Speaking on the launch of this revolutionary product, Rishi Batra, Co-Founder & COO of TWID said, “Through this strategic tie-up, we are introducing single-click checkout where the existing balance of Ola Money Wallet gets clubbed with TWID’s partner reward pool and users get more buying power. Further, Ola Postpaid allows extra credit to the users to make seamless checkout across the TWID network. ”

Speaking on the association, Prateek Jindal, Business Head, Ola Financial Services said “This association is a significant step towards creating a holistic digital payments ecosystem that enables effortless purchases at TWID’s partner brands through both Ola Money wallet and OlaMoney Postpaid balance. Ola Money users can have extensive options to use Ola Money along with the consolidated rewards the consumer has, thus ensuring consumer delight.”

Within the first year of operation, TWID has been aggressively aiming to on-board additional 50+ brands and banks with their rewards pool, over 3 Lakh+ merchant base to accept TWID as a mode of payment and over 3 million active users to transact atleast 5 times a month using TWID. As the company built a Global Payment Network using Rewards as a base, it brings in additional currency for usage in the economy. It will introduce new products for users to engage with and merchants along with banks to better communicate with the consumers. At present, the platform is working towards digitizing the transactions in the country and bringing innovative solutions and offering for its consumers and partners.