twid

What twid does

Twid (TwidPay; legal entity Twid Rewards Global Private Limited) is an India-based, venture-backed fintech founded in 2020 that operates a rewards-based payment network aggregating loyalty and reward points from multiple banks, card issuers, and brands into a single spendable currency. The company's core proposition addresses the structural inefficiency of India's loyalty ecosystem, where billions of reward points are issued annually but remain largely underutilized due to fragmented redemption processes and limited merchant acceptance. Twid connects issuers (banks such as SBI, Yes Bank, and IndusInd), merchants (over 100,000 across online and offline channels including JioMart, Myntra, Swiggy, MakeMyTrip, redBus, and BookMyShow), and consumers (40M+ reported users as of August 2022) through a B2B2C model with API/SDK integration into merchant checkout flows and issuer card programs.

The platform centers on three core consumer products — Pay with Rewards (checkout redemption), Reward Points Tracker (multi-source aggregation), and Earn Points (merchant-funded accrual at checkout) — augmented by merchant tools (Fetch Balance, Merchant Dashboard), issuer tools (Issuer Network, Customer Insights), and an industry-first subscription feature (Reward Mandates, launched August 2024 under the NPCI Partner Program). The technology stack is differentiated by SMS-based reward point tracking, UPI integration (UPI accounts for over 83% of India's digital payment volumes), Google Wallet integration, and a single-API integration model connecting multiple loyalty programs. Twid has raised approximately $14.5 million in total disclosed funding ($2.5M seed in July 2021 led by Beenext and Surge; $12M Series A in August 2022 led by Rakuten Capital with Google participation), with subsequent capital allocation via YourNest Venture Capital's continuation vehicle in 2026. Revenue is generated through three streams: merchant transaction fees on reward redemptions, issuer/bank partnership fees for network access, and merchant-funded accelerated point programs; pricing is not publicly disclosed.

Name

twid

Legal name

Twid Rewards Global Private Limited

Website

https://twidpay.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Twid operates a rewards-based payment network in India, aggregating loyalty points from multiple banks and brands and enabling consumers to redeem them at checkout across 100,000+ merchants via UPI-integrated API.

Ownership category

akta.pro rank

Product category

Rewards Payment Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

akta.pro secondary industry

Rewards Marketplace & Redemption Platforms (Merchandise, Gift Cards, Experiences) (THALAKAC)

Keywords

• Rewards payment network
• Loyalty points aggregation
• UPI payment integration
• Rewards checkout API
• Cardholder engagement platform

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Transaction Fees from Merchants: Merchants pay a transaction fee when customers redeem reward points at checkout. Twid facilitates the point-to-cash conversion and earns a take rate on each successful transaction.
2. Issuer/Bank Partnership Fees: Banks and financial institutions (issuers) pay for access to Twid's merchant network and the ability to offer enhanced reward redemption experiences to their cardholders, driving incremental card spend.
3. Merchant-Funded Accelerated Points: Merchants can fund accelerated bonus points for consumers at the moment of purchase, creating a sponsored reward mechanism where merchants pay for enhanced customer engagement.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Twid operates a rewards-based payment network that aggregates fragmented loyalty and reward points from multiple banks, credit/debit card programs, and brands into a single platform. It enables consumers to track, redeem, and earn reward points at merchant checkout through UPI-integrated payments, while connecting merchants (online and offline) with issuer banks via a single API/SDK integration. The platform processes reward point transactions across 100,000+ merchants and is used by leading Indian banks and consumer brands.

Product overview

Twid operates as a unified rewards-based payment platform offering a comprehensive ecosystem for consumers, merchants, and issuers. The core platform centers on Pay with Rewards, which enables consumers to track, earn, and redeem reward points from multiple credit cards, debit cards, and brands at checkout. The Reward Points Tracker aggregates points in one place, Fetch Balance and Customer Insights serve as add-on tools for merchants and issuers respectively, and Reward Mandates represents an industry-first innovation for subscription payments. The platform connects over 100,000 merchants with leading financial institutions and millions of consumers, processing reward points transactions both online and offline through UPI integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Pay with Rewards Core product enabling consumers to redeem accumulated reward points from multiple banks and brands as payment value at merchant checkout with a 99.5% transaction success rate. Designed for consumers shopping at online and offline merchants integrated with Twid.
• Reward Points Tracker Hub that aggregates and displays reward points from credit cards, debit cards, and loyalty programs in one place, using SMS inbox parsing of transaction messages for automatic point accrual. Targeted at consumers holding multiple cards and brand loyalty memberships.
• Earn Points Feature that enables consumers to earn reward points right at payment checkouts when shopping at participating merchants, including merchant-funded accelerated bonus points.
• Reward Mandates Industry-first feature integrating reward points into recurring and subscription payment setups. Designed for merchants and subscription platforms seeking to reduce payment failures on recurring transactions.
• Issuer Network Platform connecting banks and financial institutions to Twid's merchant network, enabling issuers to boost card spends, enhance reward efficiency, reactivate dormant customers, and drive 15x incremental spending per rupee redeemed.
• Customer Insights Data insights and control panel for issuers to set customized redemption thresholds and BIN-level configurations, supporting reward program optimization and cost reduction of up to 25%.
• Merchant Dashboard Platform for merchants to integrate 'Pay with Rewards' at checkout, manage reward point transactions, access 365 days of exclusive discount offerings, and view performance analytics.

Quantifiable outcome

• 15x incremental spending driven per ₹1 redeemed in rewards
• +6 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core partner, growth partner and strategic partner.

• redBuscore partnerTechnology or IntegrationredBus partnered with Twid to roll out reward points for bus travel payments, allowing users to redeem accumulated reward points when booking bus tickets on the platform.
• Myntracore partnerTechnology or IntegrationStrategic partnership where Myntra integrated Twid's Pay with Rewards, enabling customers to redeem reward points from multiple banks and brands during checkout on India's leading fashion e-commerce platform.
• GoKwikgrowth partnerStrategic or Co-development PartnerPartnership to boost growth for D2C brands by expanding loyalty and reward program usage across GoKwik's network of direct-to-consumer brands, offering discounts and loyalty points to shoppers.
• ConfirmTktcore partnerTechnology or IntegrationTravel tech partnership enabling double-digit savings and high transaction success rates for train and bus ticket bookings. Partnership expanded to ixigo Trains, Flights, and Hotels.
• Google Walletstrategic partnerTechnology or IntegrationTwid integrated with Google Wallet, allowing users to access their rewards through Google's mobile payment ecosystem in India, positioning Twid as part of the broader Google payments landscape.
• NPCI (National Payments Corporation of India)core partnerTechnology or IntegrationTwid launched its Reward Mandates feature under the NPCI Partner Program, integrating rewards into recurring subscription payments through India's unified payments infrastructure.
• IndusInd Bankcore partnerTechnology or IntegrationMajor Indian bank partnering as an issuer on Twid's platform, enabling its credit and debit cardholders to redeem reward points at Twid's merchant network.
• Yes Bankcore partnerTechnology or IntegrationIndian private sector bank partnering as an issuer, enabling reward point redemption across Twid's merchant ecosystem.
• SBI (State Bank of India)core partnerTechnology or IntegrationIndia's largest public sector bank partnering as an issuer, providing access to SBI's massive customer base for reward point redemption.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Snapay: Snapay is an India-based rewards and loyalty payments platform enabling consumers to redeem reward points at merchant checkout. It operates in the same points-as-payment category and serves overlapping merchants and consumers in India.
• Zillion (by Z Network): Zillion is an Indian rewards and loyalty aggregator platform that consolidates multiple loyalty programs and offers point redemption. It competes directly with Twid's aggregation and redemption value proposition for the same issuer and merchant segments.
• Supercoin: Supercoin is an Indian loyalty platform offering a unified rewards wallet and point redemption across merchants and brands. It targets the same consumer pain point of fragmented reward points and overlaps with Twid's merchant and issuer relationships.

Emerging players

• CashKaro: CashKaro is India's largest cashback and coupon platform that converts online shopping savings into redeemable value. It competes for the same consumer wallet share and offers adjacent merchant-funded incentives, though its model is cashback-centric rather than points-centric.

Broad incumbents

• Rakuten (Japan/global): Rakuten operates the world's largest integrated loyalty ecosystem (Rakuten Points) spanning e-commerce, payments, and financial services — and is also Twid's Series A lead investor. Comparable as a model for points-as-currency across a closed merchant ecosystem at scale.
• Ant Group (Alipay): Ant Group operates Alipay and the Huabei loyalty ecosystem in China, integrating payment, rewards, and merchant services at massive scale. Comparable as a global benchmark for loyalty-points-as-payment-network model.
• PayPal Honey: Honey (owned by PayPal) is a cashback and rewards browser/checkout extension that layers consumer savings on top of merchant payments. It serves as a global benchmark for loyalty and cashback aggregation at the checkout layer.
• Paytm: Paytm operates India's largest mobile payments super-app with an integrated loyalty and rewards program across merchants. It has the distribution, issuer relationships, and merchant network to add multi-bank reward redemption natively, positioning it as a potential long-term competitor.

Regional players

• Flipkart SuperCoins: Flipkart's SuperCoins program is a closed-loop loyalty currency within the Flipkart ecosystem — one of India's largest. It demonstrates scale of loyalty-point adoption in Indian e-commerce and represents the in-house alternative Twid's issuer partners could favor.

Others

• GoKwik: GoKwik is an Indian D2C checkout and shopper engagement platform — and a Twid partner. It enables merchants with similar conversion-optimization tooling and represents an adjacent/complementary player in India's D2C merchant stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/twidpay
• Facebookfacebook.com/twidpay
• LinkedInlinkedin.com/company/twidpay
• Instagraminstagram.com/paywithrewards

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about twid