Product Manager – UPI Rewards

About Olyv

The Opportunity

Key Responsibilities

• Own the end-to-end product vision, strategy and roadmap for the UPI Rewards ecosystem.
• Build a scalable and configurable rewards engine supporting multiple reward formats, including Olyv Coins, cashback and EMI discounts.
• Define campaign configurations, reward values, customer eligibility, milestone-based incentives and expiry mechanisms.
• Drive product prioritisation based on customer needs, business impact and long-term scalability.

• Develop product strategies to drive UPI adoption, first transactions, repeat usage and customer retention.
• Design targeted reward journeys for different customer cohorts, including new users, active transactors and existing credit customers.
• Identify opportunities to use rewards, gamification and personalised incentives to influence customer behaviour.
• Continuously optimise customer journeys to improve activation, transaction frequency and engagement.

• Own the economics of reward programmes, balancing customer incentives with business profitability.
• Evaluate reward costs against transaction revenue, interchange economics, customer lifetime value and incremental business impact.
• Define campaign budgets, payout structures and performance guardrails in collaboration with Finance.
• Identify opportunities to improve reward efficiency while minimising unnecessary incentive expenditure.

• Partner with Credit and Collections teams to develop reward-led repayment strategies.
• Explore incentive mechanisms such as EMI discounts and loyalty rewards to encourage on-time repayments.
• Identify customer segments and repayment patterns where targeted incentives can improve collection efficiency.
• Measure the impact of reward interventions on repayment performance and customer retention.

• Establish key product metrics to measure activation, transaction frequency, reward redemption, retention and campaign ROI.
• Design and execute A/B experiments across reward values, campaign structures, timing and communication strategies.
• Use SQL, dashboards and customer analytics to identify behavioural patterns and growth opportunities.
• Convert data-driven insights into product improvements and scalable growth initiatives.

• Translate business requirements and customer insights into clear product requirements, PRDs and execution roadmaps.
• Work closely with Engineering, Design and UPI integration partners to deliver seamless product experiences.
• Drive product development from ideation and prioritisation through launch, monitoring and optimisation.
• Ensure product features are scalable, reliable and aligned with applicable RBI, NPCI and payment ecosystem requirements.

• Collaborate with Risk and Compliance teams to establish appropriate controls for reward eligibility, payouts and campaign execution.
• Identify and mitigate risks related to fraudulent transactions, incentive abuse and promotional leakage.
• Ensure reward structures, customer disclosures and product workflows comply with applicable regulatory requirements.

What We Are Looking For

• 3 – 4 years of overall experience in Product Management, with at least 2 years in consumer fintech, digital payments, lending or loyalty products.
• Proven experience in conceptualising, building and scaling customer-facing products with measurable business outcomes.
• Strong understanding of UPI, digital payments and the payments ecosystem, including TPAP, PSP banks, NPCI guidelines and payment economics.
• Experience driving product-led growth through customer activation, engagement, retention and transaction frequency.
• Strong commercial acumen with the ability to evaluate reward economics, campaign ROI, customer lifetime value and unit economics.
• Hands-on experience with SQL, product analytics, funnel analysis and A/B experimentation.
• Ability to translate complex business problems into clear product strategies, PRDs and execution plans.
• Strong stakeholder management and cross-functional collaboration skills.
• Excellent communication, analytical thinking and problem-solving abilities.
• Demonstrated ownership, execution speed and the ability to operate in a fast-paced fintech environment.

Good to Have

• Experience building rewards engines, loyalty programmes, cashback products, coins or gamification-led experiences.
• Exposure to lending, credit, EMI repayment journeys or collections products.
• Understanding of delinquency metrics, DPD buckets and customer repayment behaviour.
• Experience designing fraud prevention, incentive abuse and promotional leakage controls.
• Familiarity with CRM platforms, customer engagement tools and personalised communication journeys.
• Engineering background or hands-on exposure to Python.

Why Join Olyv?

• End-to-End Ownership: Take complete ownership of a strategic product vertical and shape its vision, roadmap and execution.
• Build from the Ground Up: Create and scale a rewards ecosystem at the intersection of UPI, payments and digital lending.
• Drive Measurable Impact: Influence customer acquisition, transaction growth, engagement, repayment behaviour and business profitability.
• Cross-functional Exposure: Work closely with leadership and teams across Product, Engineering, Analytics, Credit and Business.
• Opportunity to Innovate: Experiment with new reward models, customer engagement strategies and data-driven product experiences.
• High Ownership Environment: Be part of a fast-growing fintech where ideas translate into execution and measurable outcomes.