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# India's Mintoak acquires Dubai-headquartered loyalty technology firm ICC Loyalty
- URL: https://www.theglobalbanker.com/mintoak-acquires-icc-loyalty-dubai/
- Published: 2026-08-04T16:32:00.000Z
- Updated: 2026-10-02T00:50:30.000Z
- Description: Indian bank platform fintech Mintoak has acquired Dubai-headquartered loyalty technology firm ICC Loyalty to expand its footprint across the Middle East, Africa, Eastern Europe and Asia.
- Author: TGB Editorial Team
- Tags: M&A, Asia-Pacific, MENA

Indian fintech Mintoak has acquired Dubai-headquartered loyalty technology company ICC Loyalty, the company announced on 4 August 2026\. Financial terms of the transaction were not disclosed. The acquisition expands Mintoak's footprint across the Middle East, Africa, Eastern Europe and Asia, the company said.

Mintoak describes itself as a payments and engagement operating system for acquirers that helps banks turn payment transactions into customer engagement and recurring revenue. ICC Loyalty provides loyalty and rewards technology for banks' customer engagement programmes, and the combined offering brings together merchant engagement, customer loyalty and data-driven intelligence.

#### COMBINED BANK CLIENT BASE

The combined business counts Emirates Islamic, Dubai Islamic Bank, RAKBANK, HDFC Bank, Axis Bank, SBI Payments and Absa Bank among its clients, according to the companies. 

#### ENGAGEMENT BEYOND PAYMENTS

Mintoak co-founder and chief executive Raman Khanduja said: "Payments have become the foundation of banking relationships. The next phase of growth will come from engagement." 

Mintoak said the acquisition will help banks unlock new revenue opportunities beyond payments. ICC Loyalty serves more than 30 banks and 11 million customers across more than 10 countries; the combined business works with more than 50 banks in over 20 countries and has annual revenue of more than USD 30 million, according to the companies.