GYFTR will run PNB's credit card rewards portal for three years, with Starbucks among the brands. AlphaScala scored Starbucks 47/100, a mixed read.
Punjab National Bank signed a three-year agreement with GYFTR Ltd to build a dedicated rewards and offers channel for its credit card customers, the companies said.
GYFTR will build and operate a white-label digital platform under PNB branding. The setup means the portal carries PNB's name rather than GYFTR's, while the technology runs on GYFTR's side. Eligible cardholders get access to curated deals from participating consumer brands across shopping, food delivery, entertainment, dining and travel.
Brands provisionally listed for the platform include Amazon Prime, Swiggy One, SonyLIV, Starbucks, Domino's, Myntra, Bata and PVR. The catalogue will be updated periodically in consultation with PNB, the press release said.
The company will supply the underlying technology and payment infrastructure. It will also handle the merchant integrations and manage the full customer journey from the PNB-branded interface through to redemption at participating brand outlets and websites.
For PNB, the arrangement adds a digital engagement channel to its existing credit card operations, with the goal of lifting engagement among existing cardholders, the companies said. The New Delhi-based lender serves customers through branch and digital banking channels.
Arvind Prabhakar, co-founder and chief executive of GYFTR, said the partnership was aimed at creating digital customer experiences that go beyond transactions and bring tangible value to bank customers. PNB's reach combined with GYFTR's brand network would drive that outcome, he said.
The white-label structure keeps the merchant integrations and redemption process with GYFTR while PNB retains the cardholder relationship. Cardholders use a PNB-branded portal to find and redeem offers, with the redemption flow running through GYFTR's infrastructure.
GYFTR, formerly LKP Finance Ltd, describes itself as a digital gifting and customer engagement platform for banks and fintechs. The PNB deal extends what the company calls a growing portfolio of banking partnerships. GYFTR did not name the other banks.
Among the consumer brands on the provisional list, Starbucks has a public equity profile. The coffee chain sits in AlphaScala's consumer discretionary sector, and the model gives the stock an Alpha Score of 47 out of 100, a mixed reading. The full breakdown is on the SBUX stock page.
Financial terms and a launch date were not disclosed.
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