Mumbai (Maharashtra) [India], January 30 (ANI/NewsVoir): Enigmatic Smile, a Reward Technology Provider, focused on linking high-value rewards to consumers' payment cards and Innoviti Technologies (formerly, Innoviti Payment Solutions), India's largest collaborative commerce platform, have entered into a strategic partnership to offer consumers in India, the best in breed reward programmes.
Enigmatic Smile works seamlessly, and invisibly, merging in the background of existing reward programmes, re-directing billions of consumer-spend to retailers in its network. As a key partner Enigmatic Smile acts as a technology bridge, to helps retailers reach the consolidated customer bases of all connected reward programmes.
The strategic partnership will help Enigmatic Smile to reach Innoviti's 9 million+ consumers across 2000+ cities, covering 76 per cent of enterprise market of Innoviti. With collaborative access to all key large merchants, this partnership will help the consumers of these outlets to get the privilege of earning rewards each time they make a transaction. Additionally, Innoviti's innovative and efficient support tools will ensure 88% active stores through the week with negligible downtime.
Bish Smeir, CEO, Enigmatic Smile said, "This partnership with Innoviti completes the picture for our service in India, consolidating Enigmatic Smile's market position, and allowing us to enable 100 per cent of all enterprise-grade merchants across the country with a flick of a switch. Bringing together the entire payment landscape of a country, especially one as big as India, was an extraordinarily hard task, but it is now one that is complete. This is not the end but start of new journey. Forward thinking cashback websites, affiliate networks and banks can now help co-create the ecosystem, to get-going straight away. Enigmatic Smile will make rewards more rewarding in India for companies and retailers in India."
Prasad Sonavane, Chief Revenue Officer, Innoviti, said, "At Innoviti, we are on a fast-paced transformation journey and through collaboration we want to bring about acceleration in businesses across sectors. As the key payment's technology collaborator in this ecosystem, our aim remains to empower merchants to deploy offers that directly benefit end consumers and help them enhance the consumer experience. Our collaboration with Enigmatic Smile is that direction and we hope to impact our customer base by adding enhanced value to their services charter."
Through this unique collaboration Innoviti will also help reach Enigmatic Smile Reward Programme to the general trade retailers of India, giving them a unique opportunity to modernize and upgrade their marketing tools, communication and card-linked rewards.
While all retailers on the Innoviti platform will be enabled to deploy offers, for free to millions of end users, developers can integrate Enigmatic Smiles' APIs for free to avail of merchant offers, and large consumer organizations can cut short development timelines by releasing bespoke rewards apps, on both iOS and Android - developed and deployed by Enigmatic Smile engineers within 4 weeks.
Enigmatic Smile is a rapidly expanding Reward Tech organization, focused on decentralizing, and defragmenting the broken payment-linked rewards industry. ES technology already integrates 27 financial services organizations who process POS transactions for up to 90% of the world's merchants.
Innoviti Technologies (formerly, Innoviti Payment Solutions) is India's largest provider of collaborative commerce solutions to Enterprise merchants with a 76% market share of all purchases being paid for digitally in this segment. Innoviti's vision is to help people make better purchase decisions by providing better purchase options. The company processes over 10B$ of purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has 6 patents awarded with 21 more filed. Innoviti is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020.
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