Gift Cards Become the New Currency of Rewards & Loyalty in India; Benepik Drives the Shift!

PNN
Gurugram (Haryana) [India], November 20: In today's fast-evolving rewards economy, one trend is reshaping how brands recognise, motivate, and retain their stakeholders: the rise of the Gift Card as the universal reward choice. Once seen as a festive-season give-away, gift cards have now become the backbone of modern reward and loyalty programs across employees, channel partners, influencers, and consumers. From BFSI and Telecom to FMCG, Cement, Paint, and D2C brands, organisations are embracing gift cards for what today's audiences value the most: instant gratification, choice, and flexibility. Even in traditionally rigid rewarding mechanisms like channel loyalty, where gifts or cash were the only accepted formats, digitalisation is driving a massive shift, with gift cards emerging as the preferred reward.

"Gift Cards have become the new currency of engagement," says Saurabh Jain, Founder & CEO, Benepik. Organisations increasingly prioritise flexibility and personalisation; traditional physical gifts and merchandise no longer fit the need. As reward and incentive programs modernise across industries, the shift from slow, manual processes to instant digital rewarding has become a necessity. Brands have realised that speed drives loyalty, be it their relations with employees, channel partners or customers", adds Saurabh Jain
This shift became even clearer during the recent festive season, when more organisations opted for gift cards over traditional hampers, valuing the freedom, convenience, and personalisation they offer. Benepik witnessed remarkable growth in its gift card business, reflecting the evolving landscape of corporate gifting.
Why Gift Cards Are Becoming the Preferred Reward
1. Universal Appeal:
Whether it's an employee celebrating a milestone or a dealer redeeming loyalty points, gift cards appeal to every demographic.
2. Freedom of Choice:
A gift card respects personal preference, whether someone wants groceries, electronics, fashion, travel, or food delivery.
3. Instant, Digital, and Seamless:
With digital delivery, rewards are delivered instantly to users' mobile devices, making gratification real-time and memorable.
4. Secure and Trackable:
Gift cards ensure full compliance, traceability, and fraud resistance, especially critical for BFSI, insurance, and channel programs.

Benepik: Powering India's Gift-Card-Led Reward Revolution
As one of India's leading reward and loyalty tech platforms, Benepik has been at the forefront of this transition. With a catalogue of 350+ gift cards, instant delivery, and enterprise-grade compliance, Benepik is enabling companies to shift to gift-card-based rewarding. The platform's ability to integrate gift cards across employees, consumers, influencers, and channel partners makes it a unified solution for India's new-age loyalty landscape.
Benepik's Influencer and Retailer Loyalty Programs have also become a hit across industries such as cement, paint, and consumer durables for recognising on-ground influencers, including painters, electricians, and mechanics. Instant UPI transfer, backed by secure KYC, makes the program scalable for brands of all sizes.
"In the cement industry, loyalty goes beyond margins. With Benepik's tiered rewards and instant cashback, we built trust and consistency across our dealer network," says Vishalsinh Kshatriya, Sr. Manager Marketing, Hathi & Sidhee Cement.
As digital convenience merges with emotional connection, Benepik stands at the heart of India Inc's new reward & loyalty economy, helping organisations recognise effort, inspire performance, and build loyalty through the currency of choice: digital gift cards and points. Whether it's an employee hitting a target, a retailer driving sales, or a customer reaching a milestone, recognition must be instant and personal. Gift cards and digital points make that possible.
About Benepik
Benepik is a leading rewards and loyalty solutions company that helps organisations engage employees, channel partners, influencers, and customers. With over 800+ clients across sectors, Benepik is an industry leader in powering engagement, real-time rewarding, and data-driven loyalty programs.
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