ICICI Bank employs which criteria to select the merchants who appear on their iShop portal? iShop provides carefully chosen merchandise through its business model different from typical open marketplaces because it selects sellers to provide reputable brands with beneficial deals to customers.
ICICI Bank bases merchant selection on three major criteria that include both established business credibility as well as consumer desire and possibilities for partnership. ICICI Bank works with brands to support its rewards program so customers can receive considerable value through iShop purchases. Large well-known travel and hospitality and shopping vendors show up here instead of small unrelated sellers because of specific system requirements.
The agreement to provide special promotions plays an important role in this process. This mutual arrangement between brands and iShop results in better reward points combined with cashback benefits thus creating a beneficial system for business owners and purchasers.
Customers receive rewards from ICICI in those payment segments which carry greater financial value specifically in travel and lifestyle products. The selected merchants of iShop focus on enhancing customer satisfaction rather than pursuing a large list of participants.
The future evolution of iShop will be exciting to watch because it will reveal both new added merchants and modifications to the customer rewards system.
