Reward Redemption Options
Short answer: Eligible Unlock Money customers can redeem reward points as a UPI payout, a bank transfer, or for a product in the in-app shop. For the step-by-step process see how to redeem reward points, and for eligibility rules see the redeem points guide.
Reviewed by Santosh More, Founder — SM Digital Ventures:
Ways to redeem your reward points
UPI payout
Request redemption directly to a UPI ID linked to your name. Once saved and verified, the same UPI details are used for future UPI redemption requests from that account.
Bank transfer
Request redemption to a bank account using the account number, IFSC code and account holder name. As with UPI, verified bank details are saved for future bank redemption requests.
In-app shop products
Instead of a cash payout, eligible customers can browse the in-app shop and redeem points for a product. A shop order requires a receiver name, mobile number and delivery address, and is reviewed the same way as a payout request.
Choosing between UPI, bank and shop
UPI is typically fastest to set up if you already use a UPI app. Bank transfer is useful if you prefer redemption directly into a savings account. The in-app shop suits customers who would rather redeem points for a product than a cash payout. You can use different options for different requests, subject to what is currently available for your account.
Frequently asked questions
What can I redeem Unlock Money reward points for?
Eligible customers can request redemption as a UPI payout, a bank transfer, or by choosing a product in the in-app shop, subject to eligibility and current policy.
Can I redeem points to both UPI and a bank account?
You can choose either payout method per request. Whichever option and account details you provide are used for that specific redemption request.
Can I redeem points for products instead of cash payout?
Yes, eligible customers can choose a product from the in-app shop and redeem points for it instead of a UPI or bank payout, subject to product availability and delivery details.