BharatPe launches PAYBACK India in a new avatar: Rebrands it as ‘Zillion’

•  The new brand with the tagline ‘Aha Everywhere’ aims to deliver customer delight
•  Zillion promises a plethora of new opportunities for customers to earn and redeem coins at multiple partners

Mumbai: BharatPe Group, one of India’s leading names in the fintech industry, today announced that it will be rebranding PAYBACK India, the country’s largest multi-brand loyalty program to Zillion. This new brand identity is in line with the company’s vision to make Zillion ubiquitous to loyalty and rewards across the country. The new brand identity aims to target customers across age groups and add a new dimension to their overall shopping experience, across categories and brands.

Zillion will offer a wide range of options for customers to earn and redeem at a wide range of partners across the country. The customers will be able to earn  ‘Zillion coins’ for their routine spends, that will in turn add a moment of delight in their life. The Zillion logo incorporates this, signifying experiencing joy of spark and finding ‘aha’ moments everywhere. 

Customers will be able to earn Zillion coins across the network of offline and online partners, including groceries, fuel, entertainment, travel, apparel and more. 

Speaking on the rebranding, Mr. Rijish Raghavan, Chief Executive Officer - Zillion said, “It has been a long and satisfying journey for us, building PAYBACK over the years as India’s largest loyalty program with over 130 million customers. Today marks a landmark day as we begin a new era in our journey - as Zillion. The new brand identity marks a transformational shift in our strategy from being a niche loyalty program to one with an extensive range of partners, across categories.

The new name and identity will also help us connect better with a wider range of customers - including Gen Z and Millennials. Our objective is to make Zillion a de facto customer delight tool for retailers across the country. I am confident that Zillion will emerge as the preferred loyalty program for millions of customers in the coming months.”

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Added Parth Joshi, Chief Marketing Officer, BharatPe, “Zillion has been created keeping in mind the customers of today - it is young, bold and energetic and aims to add a spark of joy in the customers’ lives, every day. We are confident that this new version of the brand will appeal to a wider customer base and will be able to deliver more aha moments and make every day special for the customers.

We will be launching marketing campaigns in the coming months to build awareness about Zillion and drive consumer engagement. 

Zillion (erstwhile PAYBACK India) is a unique multi-brand loyalty program, designed to engage with customers and reward them for their purchases with loyalty coins that can be redeemed later. Currently, its members can earn coins at 50+ brands – instore & online and redeem them at  select partners or for products and vouchers from leading brands.

The partners of Zillion include renowned brands from multiple industries including retail, fuel, banking, payments, entertainment, hospitality and travel. Some of its key partners include HPCL, BookMyShow, American Express, Amazon, Flipkart and many more. 

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About BharatPe Group-  BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe. 

Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 30 crores+ UPI transactions per month (annualized Transaction Processed Value of over US$ 24 Bn in payments). The company has already facilitated the disbursement of loans totaling close to ?8000 crores. BharatPe’s POS business processes payments of over US$ 3.5 bn annually on its machines. 

BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital. In June 2021, the company announced the acquisition of PAYBACK India, the country’s largest multi-brand loyalty program company with 100 million+ members. 

In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. 

postpe has over 8 million downloads and an annualized TPV of close to Rs. 5000 crores. Recently, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator.

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