LKP Finance Acquires Gyftr, Plans NBFC Exit

LKP Finance, a financial company, has bought a big part of Gyftr, a digital gifting platform.

They want to change their business from traditional financial services to a focus on payments and rewards.

They have applied to give up their NBFC license.

LKP Finance already owns a part of Mufin Pay, which owns Gyftr.

This helps them work together better in the payments and rewards market.

The combined company will compete in India's growing loyalty and rewards market, which is worth billions.

Digital gifting is a big part of this, with millions of e-gift cards issued.

The corporate gifting segment is also growing fast, driven by employee and customer programs.

The integration aims to make rewards more important in business and financial processes.