Business Mintoak Acquires ICC Loyalty to Expand Banking Engagement Platform Adarsh SinghAugust 4, 2026014 views Deal Enhances Mintoak’s Payments, Loyalty and Customer Engagement Capabilities Across Emerging Markets Payments and engagement operating system Mintoak has acquired ICC Loyalty, a leading loyalty and rewards technology provider, in a strategic move aimed at expanding its global presence and strengthening its product offerings for financial institutions. The acquisition marks a significant milestone in Mintoak’s growth journey as it looks to help banks move beyond payment processing and build deeper customer engagement through integrated loyalty, rewards, and merchant solutions. According to the company, the acquisition significantly strengthens its presence across the Middle East, Africa, Eastern Europe, and Asia, while enabling it to offer a comprehensive banking engagement platform that combines merchant payments, value-added services, and customer loyalty solutions under one ecosystem. ICC Loyalty Brings Established Banking Relationships ICC Loyalty has built a strong presence in the banking technology ecosystem by providing loyalty and rewards infrastructure to more than 30 banks globally. Its platform enables banks and financial institutions to design and manage personalized rewards programmes, targeted promotional campaigns, cashback offers, and lifecycle engagement initiatives. These solutions are aimed at increasing customer retention, encouraging higher transaction frequency, and improving overall customer lifetime value. According to the company, ICC Loyalty currently serves over 11 million banking customers across more than 10 countries, making it one of the established players in the loyalty technology segment. By integrating ICC Loyalty’s technology into its existing platform, Mintoak aims to offer banks a unified solution covering merchant acquisition, payments, customer engagement, and rewards management. Payments Act Amendment May Open Door for MDR on UPI Transactions READ MORE Expanding Beyond Merchant Payments Since its inception, Mintoak has focused on enabling banks to digitize merchant payments and provide value-added business solutions to small and medium enterprises. With the acquisition of ICC Loyalty, the company is extending its platform beyond merchant-focused services into customer engagement and loyalty management. According to Mintoak, the combined platform will enable banks to seamlessly manage both their acquiring business, which focuses on merchants accepting payments, and their issuing business, which serves cardholders and retail banking customers. The integration is expected to allow banks to leverage payment data, merchant relationships, and customer behavior to deliver personalized offers, targeted rewards, and data-driven engagement campaigns. Combined Business Generates Over $30 Million in Annual Revenue Following the acquisition, the combined business is expected to generate more than $30 million in annual revenue, while maintaining a profitability margin exceeding 30%, according to the company. Mintoak believes the combined platform will create new monetization opportunities for banks by connecting merchants, consumers, and transaction data into a single engagement ecosystem. As banks increasingly seek non-interest income and diversified revenue streams, integrated loyalty and engagement platforms are becoming an important part of their digital transformation strategies. Global Presence Expands Across More Than 20 Countries The acquisition further strengthens Mintoak’s international banking network. Following the deal, the company now partners with more than 50 banks across over 20 countries. Its client portfolio includes several leading financial institutions such as: HDFC Bank Axis Bank SBI Payments Emirates Islamic RAKBANK Absa Bank Mintoak’s platform currently supports over 5 million merchants, serves more than 11 million customers, and processes over $93 billion in annual payment volume, according to the company. The company is backed by prominent investors including PayPal Ventures, British International Investment (BII), Pravega Ventures, HDFC Bank, and Z3Partners. Growing Demand for Banking Engagement Platforms Banks across emerging markets are increasingly looking beyond traditional payment processing as they seek new ways to improve customer retention, increase transaction frequency, and generate additional revenue. Customer loyalty programmes, personalized rewards, merchant offers, and data-driven engagement have become important differentiators in the digital banking landscape. Mintoak believes the acquisition of ICC Loyalty positions the company to capitalize on this shift by offering financial institutions an integrated technology platform that combines payments, merchant services, rewards, and customer engagement. Looking Ahead With the acquisition of ICC Loyalty, Mintoak is strengthening its position as a technology partner for banks seeking to build comprehensive digital engagement ecosystems. By combining merchant payments with loyalty and rewards capabilities, the company aims to help financial institutions create stronger customer relationships, improve transaction volumes, and unlock new revenue opportunities across emerging markets. As digital banking continues to evolve globally, the acquisition is expected to accelerate Mintoak’s expansion while broadening its product portfolio beyond payments into end-to-end customer engagement solutions.