According to reports, Razorpay, a digital payments and financial services firm, has acquired loyalty management platform PoshVine for an undisclosed sum.

This is Razorpay’s fourth acquisition this year and its seventh overall.

The acquisition, which is expected to propel it into the loyalty and rewards management space, comes close on the heels of its $200-million acquisition of offline point-of-sale (PoS) firm Ezetap in August.

Under the deal, PoshVine’s 36-member team will join Razorpay and operate its loyalty and rewards vertical.

Shashank Kumar, managing director and cofounder, Razorpay says, “We continue to see a bigger opportunity to work with banks and help them upgrade their financial infrastructure. While banks can acquire a customer for their credit card offering, they are unsure if it will be used. That’s where we see the rewards and loyalty play coming in, where it is critical to provide the right offer in the right context.”

The acquisition is expected to help allow merchants to automate the process of pitching discount offers to banks; provide timely and customized offers to customers and allow them to pay through credit points of banks during merchant checkouts.

Razorpay also expects to enhance the offline shopping experience for customers by integrating PoshVine’s loyalty and reward offerings on its point-of-sale network.

Founded in 2011, PoshVine enables banks, fintech firms and payment networks to increase customer engagement through its offers and reward management solutions. Currently, its platform aggregates offers from over 5,000 merchants and brings it in one solution to banks, which is then extended to credit card holders.

Kumar says, “With our offline and online operations, there’s a sizable portfolio of spends that we are managing. So, we are now looking to offer a bespoke platform for businesses where they can create offers, loyalty and rewards.”