{
    "success": true,
    "data": {
        "id": 1911909,
        "msgid": "mintoak-acquires-middle-east-based-fintech-icc-loyalty-1786420515",
        "date": "2026-08-11 10:06:36",
        "title": "Mintoak Acquires Middle East-Based Fintech ICC Loyalty",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Business",
        "summary": "Indian payments platform Mintoak has acquired Dubai-based ICC Loyalty, expanding its footprint across the Middle East, Africa, Eastern Europe, and Asia. The combined entity generates over US$30 million in annual revenue with profit margins exceeding 30%. The acquisition aims to help banks unlock new revenue streams beyond payments through enhanced customer engagement and loyalty solutions.",
        "content": "<p>Mintoak, a payments and engagement operating system for acquirers,\ntoday announced the acquisition of ICC Loyalty, extending its reach\nacross the Middle East, Africa, Eastern Europe, and Asia whilst helping\nbanks unlock new revenue opportunities beyond payment services.\nHeadquartered in Dubai, UAE, ICC Loyalty serves more than 30 leading\nbanks and 11 million customers across over 10 countries, with clients\nincluding Emirates Islamic, Dubai Islamic Bank (DIB), and RAKBANK. The\nacquisition expands Mintoak\u2019s capabilities beyond merchant payments to\nencompass customer engagement, loyalty, and reward solutions. The\ncombined entity generates annual revenue of more than US$30 million with\nprofit margins exceeding 30%. \u201cThis acquisition marks a significant\nmilestone for Mintoak,\u201d said Raman Khanduja, Co-founder and Chief\nExecutive Officer of Mintoak. \u201cPayments have become the foundation of\nthe relationship between banks and customers. The next phase of growth\nwill be built on customer engagement. By integrating merchant\nengagement, customer loyalty, and data-driven intelligence, we are\nbuilding a Payments and Engagement OS that enables banks to create\ngreater value for merchants, consumers, and banks.\u201d \u201cJoining Mintoak\nallows us to integrate their advanced AI capabilities and platform into\nthe ICC ecosystem, delivering next-generation, deeply personalised\nexperiences for our existing and new clients,\u201d said Amit Narang,\nCo-founder and Chief Executive Officer of ICC Loyalty. \u201cTogether, we\nwill help banks deliver more meaningful customer experiences whilst\ncreating measurable commercial value.\u201d Following the acquisition,\nMintoak now partners with more than 50 banks across over 20 countries,\nincluding HDFC Bank, Axis Bank, and SBI Payments in India, Emirates\nIslamic and RAKBANK in the Middle East, and Absa Bank in Africa. Backed\nby PayPal Ventures, British International Investment, Pravega Ventures,\nHDFC Bank, and Z3Partners, the platform serves over 5 million merchants\nand 11 million customers, processing annual payment volumes exceeding\nUS$93 billion. Together, Mintoak and ICC Loyalty are building the\nleading Payments and Engagement OS for banks, helping financial\ninstitutions forge closer customer relationships and unlock new revenue\nstreams.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/mintoak-acquires-middle-east-based-fintech-icc-loyalty-1786420515",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}