IndusInd Bank has launched an online store – www.themorestore.in – from where its customers can redeem their reward points for purchase of merchandise from an online catalogue. It has tied up with Onemi, a catalogue-based retailer and retail e-commerce company, for this purpose. The bank said as part of an overall rewards enhancement strategy and with a view to further drive online purchasing convenience for its customers, it has launched the online store. The bank’s customers could redeem their reward points for purchase of items from an online catalogue from the site. The bank claimed that it was India’s first rewards redemption platform integrated into an online market place. The online store offered three options – redemption, shopping and redemption+shopping. Customers could redeem their reward points across both debit and credit cards against more than 200 products listed in the catalogue. They could also shop for products across categories such as lifestyle, health & beauty and gadgets. With `redemption+ shopping’, they could purchase products using their reward points and by paying the differential amount on their debit/credit cards issued by the bank. ‘Onemi’, the a catalogue-based retailer, with whom the bank has tied up, offers flexible payment options and offers products ranging from mobile phones/ home appliances to ACs, electronic goods to beauty products.
