Bengaluru-based Mintoak has acquired Dubai-headquartered ICC Loyalty in a deal aimed at strengthening its banking technology platform in West Asia and Africa. The move brings consumer rewards capabilities into Mintoak’s offering as the company looks to deepen its work with banks in those regions.
Mintoak is known for merchant payments software, and the ICC Loyalty acquisition adds a new layer focused on customer engagement and rewards. By combining merchant-side payment tools with loyalty technology, the company can offer banks a broader platform that covers both transactions and reward experiences for card users.
According to the available details, the acquisition was funded largely through Mintoak’s cash reserves, with a smaller debt component. ICC Loyalty manages credit card reward points programs for 34 banks and serves about 11 million customers, giving Mintoak an established base in the rewards segment.
The transaction signals Mintoak’s intent to grow beyond its core payments business and build a more complete bank technology stack for international markets. With ICC Loyalty’s consumer rewards expertise, Mintoak is positioning itself to serve banks looking for integrated payments and loyalty solutions across West Asia and Africa.
