In a digital economy where consumer expectations are rapidly evolving, the traditional loyalty program is at a crossroads. Fragmented ecosystems, limited redemption avenues, and disengaged consumers have reduced loyalty programs to mere transactional utilities rather than strategic growth drivers. Monet, India’s first interoperable loyalty product powered by blockchain and artificial intelligence, promises to change that narrative, introducing a bold vision for seamless, personalised, and data-driven consumer engagement.
Speaking about the vision, Abhay Mishra, Co-Founder & CEO of Monet, remarked,
“Monet, with its pioneering technology, is empowering individuals to own their data via ZKP in a way that they can monetise it using our CIM play. We are already seeing early traction with large global brands partnering with us across US, UK, UAE, and India.”
Launched on November 13th, Monet is positioned as a transformative platform that integrates interoperability into the fabric of loyalty programs, offering businesses the ability to meet the growing demand for flexibility and transparency. Monet’s platform allow rewards flow seamlessly across ecosystems, empowering consumers to earn and redeem rewards across multiple brands and platforms.
Abhay Tandon, Co-Founder & CBO of Monet, emphasised the product’s value to businesses:
“Monet is fundamentally re-imagining data and loyalty monetization for the future, leveraging a robust tech stack, and creating an ecosystem where loyalty isn’t just transactional but transformational. We are aiming to get to 700-1000 brands across segments over the next 6 months”
Built on blockchain technology, AI-driven insights Monet enables hyper-personalised engagement, turning loyalty programs into growth engines for businesses. For consumers, it reimagines rewards as a tangible, valuable asset rather than forgotten money.
Designed with scalability in mind, Monet leverages blockchain to ensure transparency and security, while AI creates opportunities for precision marketing and data monetization. Anuj Kumar, Co-Founder & CTO of Monet, stated:
“The technology behind Monet is designed for unmatched security, scalability, and seamless user experience. We’re leading the way with a product that combines technical strength with real, tangible value for consumers.”
Monet, in collaboration with Daze Info, launched an industry-first report titled “Changing Landscape of Interoperable Loyalty Programs in India”. The report highlights key trends shaping loyalty programs, including the rise of digital-first ecosystems, the need for interoperability to drive customer retention, and the role of blockchain and AI in creating secure and scalable loyalty platforms.
The exclusive report was unveiled by Sanjeev Gupta, CEO of Karnataka Digital Economy Mission, and Pankaj Rai, Group Chief Data Analytics Officer at Aditya Birla Group, at the launch event
Vargab Bakshi, VP and country head – India, Wix.com, said:
“Monet is set to redefine loyalty by breaking down traditional silos and creating a seamless, interoperable ecosystem. By enabling consumers to earn and redeem points across multiple D2C brands, Monet will enhance the value of loyalty programs while solving for critical pain points for ecommerce businesses
The launch event also featured insightful panel discussions with industry heavyweights from Flipkart, Diageo, Razorpay, NVIDIA, Aditya Birla, Wix and more. Topics ranged from the transformative potential of blockchain and AI in loyalty programs to leveraging data analytics for delivering hyper-personalized consumer experiences.
Vishnu Acharya, Head of Strategy and Corporate Development, Razorpay, shared:
“Interoperable rewards will be one of the largest unlocks for retail consumption and loyalty program expansion. Excited to see how Monet drives this ecosystem for India.”
About Monet
Monet is a next-generation loyalty product that redefines the value of rewards through blockchain and artificial intelligence. It empowers businesses with data-driven insights and enables consumers to enjoy a unified loyalty experience, transforming the way brands and consumers interact in an interconnected, data-driven world.
Monet has raised an undisclosed amount in their Pre-Seed round from strategic angel investors across the globe including Sanjay Manchanda – Ex-CEO of Nakheel Group (Dubai Palm Jumeirah+), Daniel Evseev – Web3 Investor and Stanford Web3 Mentor, Ankur Mittal – SVP Technology and MD at Lowe’s India, Rajesh Puneyani – VP and MD of Kenvue Solutions India, Gaurav Mangla – CEO – Checkout and Ads at Shiprocket, Yeshu Agarwal – Co-Founder of Transak among others.
