Euronet Pakistan and Gift Management Asia PTE have entered into a strategic partnership to disrupt the market and bring world-class loyalty solutions to financial institutions and corporates in Pakistan.
Giift is a leading loyalty technology provider and program management partner with headquarters in Singapore. Founded in 2013, Giift has since expanded into multiple countries including Dubai, Mumbai, New York, London, Wuhan, Beijing, Jakarta, Colombo, Doha, Dhaka, Nairobi, and now in Pakistan in collaboration with Euronet.
As part of their business strategy, they have recently raised USD 50 million in Series C funding from the UK-based asset manager APIs Partners for further expansion across APAC and Africa.
Giift has served over 2,000 corporate clients across industries and has created customized loyalty and rewards-based programs for over 22 leading financial institutions and payment providers globally that have had a direct impact on portfolio profitability.
Euronet will be the exclusive partner for Giift in Pakistan, and alongside its hosted technology stack and card processing, it will offer enterprise-wide loyalty programs including Loyalty Management, Reward Redemption, Digital Engagement, Merchant Funded Offers, and a Payment-led Mobile Loyalty Platform.
Giift will manage merchant relationships covering existing and new merchant acquisitions, and onboarding relationships on the Marketplace.
Euronet Pakistan, being an industry leader in processing secure electronic financial transactions with a consolidated platform for all cards and payment products, driving over 75% of the POS traffic in Pakistan, will help Giift penetrate and expand in the local market.
This arrangement will increase acquisition, adoption, usage, and engagement of clients’ portfolio growth across products and services in terms of payment, loyalty technology strategy, product ideation, technology development/deployment, and program management.
The signing ceremony was held at Giift’s office in Dubai and was attended by senior management of both the companies.
Speaking at the occasion, Kashif Gaya, Chief Executive Officer of Euronet Pakistan, said, “Being the market leader, we intend to leverage our scale and offer diversified digital-first propositions and product sets to our clients by cultivating partnerships with leading service providers across different geographies.”
“We are happy to collaborate with Giift and look forward to offering enterprise-wide world-class loyalty solutions and programs in Pakistan,” he added.
Pascal Xatart, Co-founder and Director of Giift, said, “This strategic partnership we have developed with Euronet will disrupt the loyalty space in Pakistan. Loyalty & Engagement programs are our strong suit and we also bring a heady combination of deep-rooted subject matter expertise coupled with global best practices across varied industries.”
“With a powerful partner like Euronet, we will add significant value to the loyalty ecosystem in the country,” he added.