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Reliance Money launches loyalty card

business Updated: Apr 04, 2008 14:55 IST
PTI
Reliance Money launches loyalty card for customers

Reliance Money, Anil Ambani group's brokerage and financial products distribution firm on Friday became the first of its kind in the country to start a loyalty card programme, under which all its customers will earn reward points for all transactions made through the company.

Reliance Money, which has crossed two million customers mark within a year, said in a statement that 'Club Elite' is a loyalty-cum-reward initiative tailored to offer loyalty points exchangeable into unique rewards points on transactions.

Till date, no other brokerage or financial distribution firm offers any loyalty programme for its customers.

"Customer would earn reward points for every purchase/ transactions through Reliance Money across all its products," the company said.

The card would be offered to all Reliance Money customers and the company is in discussion with various vendors for redemption of loyalty reward points earned by the customers.

"A loyal customer has been completely ignored by conventional players and not extended any reward for their loyalty," Reliance Money CEO Sudip Bandyopadhyay said.

Reliance Money said it has acquired the fastest 2 million customers in the industry and has launched this initiative to commemorate crossing this mark.

The milestone has come, days ahead of the company completing its one-year of commercial operations on April 11.

"We have seen steady growth in the customer base despite the volatility in the market. In the last two months alone, we have added over 5,000-7,000 customers daily in our portfolio," Bandyopadhyay added.

Reliance Capital, the parent company of Reliance Money, has crossed a total customer base of 14 million as of March 31, which marks a three-fold jump in one year.

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