BharatPe marks its first acquisition with Payback India

Mumbai: BharatPe has acquired 100% of Payback India, a multi-brand loyalty programme, from American Express and ICICI Investments Strategic Fund for an undisclosed amount.

This is the first ever acquisition by the digital payments app.

Launched in 2010, Payback India is a brand loyalty platform that allows customers to earn and redeem points on payments made at partner merchant points. Payback claims to have 100 million users in India.