Razorpay acquires PoshVine, forays into loyalty and rewards management

Since 2016, PoshVine has been offering its loyalty-as-a-service product to over 20 leading banks and networks

Fintech unicorn Razorpay said it has acquired fintech startup PoshVine. The acquisition marks Razorpya’s foray into loyalty and rewards management. The companies did not reveal the value of the transaction.

Founded in 2011, PoshVine offers payments-linked loyalty and engagement solutions to banks, payment networks, and businesses. 

“With an increasing percentage of customer spends moving online, there is a massive opportunity to help banks and merchants engage with their customers across the lifecycle using payment-linked loyalty including rewards, offers, and redemption of loyalty points,” said Shashank Kumar, managing director and co-founder of Razorpay.

The entire PoshVine team will be joining Razorpay