By BharatPe acquires Payback India
Merchant payments and financial services provider BharatPe has acquired multi-brand loyalty platform, PAYBACK India, to help its 6 million offline merchants roll out rewards and loyalty programmes for customers.
The acquisition is expected to give an exit to American Express and ICICI Investments Strategic Fund
It holds a 90% and 10% stake respectively in the entity. PAYBACK India will continue to function independently, after the acquisition.
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