Simply put, a consumer with a bank card will be able to use the rewards and benefits across touch points irrespective of how they collected those points. For instance, a consumer can use his points collected at a fashion brand and redeem it for buying air tickets or buying a beverage or even groceries.
Under the new initiative named Surge, the platform will change the benefits redemption landscape by offering an extensive range of options across multiple categories including sports, hospitality, fashion, entertainment, consumer durables, grocery stores and even airlines. So far, no other company has been able to provide rewards across such a diverse array of categories, all available under one roof.
“Surge will allow us to participate in lot of RFPs in both public and private sector. And as a full stack benefits and loyalty company over the next 18-24 months from India, UAE, Saudi Arabia and South East Asia, we expect an additional $80 to $100 million to be generated via the Surge technology in terms of platform revenues” said Dhruv Verma, Founder and CEO, Thriwe.
Thriwe said it plans to partner with over a dozen banks, airlines, retailers in the next six months.At present, the experience with the loyalty points and rewards system in India is broken with millions of such shopping points lying unutilised in various shopping cards. The idea is to collate all the points and convert those into real money so that the end customer can use it wherever and whenever they want. Consumets can redeem the points across more than 2 lakh touchpoints.While the feature will help brands and companies retain their customers and drive brand loyalty, this will also help them with a competitive advantage against their peers.Meanwhile, customers will also be rewarded for their behavioral attributes like registering for a newsletter, or liking a post of the brand, for referring another customer, for creating content, for custom actions, for running a mile, for investing a particular amount, for maintaining certain balance in account, for credit card usage limit, for purchasing from a brand, for special occasions.
Founded in the year 2011 by Verma, an XLRI alumnus, Thriwe has headquarters in India and offices across the UAE, Singapore, London, and Florida. It has raised funding from the angel fund YourNest fund and Africa’s Ison Networks.
The company runs India’s largest tech-enabled benefits as a platform ecosystem and has over one lakh partner associations and service delivery presence in 130 countries globally. They have services including concierge, travel ecosystem earn and burn across, dining, hyperlocal, gyms, e-commerce and golf among others.
