iMint: Payback owns 86 per cent stake
Leading European bonus card services provider Payback has acquired an 86 per cent stake in i-Mint.
June 11, 2010 | comments ( 0 ) |
Leading European bonus card services provider Payback has acquired an 86 per cent stake in i-Mint. Payback is the card business arm of Germany-based Loyalty Partner, which provides loyalty management solutions through its Payback bonus scheme.
“The acquisition will help us provide cutting-edge services to Indian shoppers and retailers through Payback’s international expertise with i-Mint’s local know-how and pan-India market presence,” said Alexander Rittweger, CEO, Payback.
Payback, which has sales of €20 billion in Europe, expects a revenue of Rs180 crore from the Indian market over the next 3-4 years.
i-Mint, which has a customer base of 1,500 companies in India, such as ICICI Bank, HPCL, Air India and MakeMyTrip.com, also expects to expand its base globally by bringing in more international and national brands.
- CCI gives nod to Samara Capital-Amazon's joint bid to buy More
- SoftBank eyes 40% stake in FirstCry for $400 million
- Vivo India launches 'Vivo Xchange' program in partnership with Cashify.in
- Milkbasket expands operations to Bengaluru
- Manyavar launches another store in Punjab
- Ola raises Rs 150 crore from Flipkart's Co-Founder Sachin Bansal
- Ananth Narayanan steps down as Myntra Jabong CEO
- DailyNinja celebrates 15 million orders fulfilled
- John Jacobs looks to garner Rs 500 crore revenue by March 2021
- The Body Shop plans to launch 20 more stores in 2019