Product Manager

Product Manager - UPI Rewards

About Olyv

Olyv (formerly SmartCoin) is a Bengaluru-based fintech company focused on making financial services more accessible through technology, innovation and data-driven solutions.

We are building a comprehensive digital financial ecosystem spanning lending, payments, digital gold and financial wellness. By leveraging technology, data science and AI, Olyv empowers millions of customers across India with smarter financial solutions and greater access to credit.

The Opportunity

We are looking for a Product Manager - UPI Rewards who can take complete ownership of building and scaling Olyv's rewards ecosystem.

As UPI becomes an integral part of the Olyv app, rewards will play a critical role in shaping customer behaviour, driving transaction adoption, improving engagement and encouraging timely repayments.

You will be responsible for building a scalable, configurable rewards platform and defining the strategy behind it - deciding what rewards to offer, which customer segments to target, when to incentivise engagement and how to maximise business outcomes while maintaining healthy unit economics.

This role requires a strong combination of product thinking, analytical rigour, commercial understanding and execution excellence. You will work closely with Engineering, Design, Analytics, Credit, Collections, Finance and Compliance to turn business opportunities into impactful product experiences.

Key Responsibilities

1. Product Strategy & Platform Ownership

• 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.

2. UPI Growth & Customer Engagement

• 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.

3. Rewards Strategy & Business Economics

• 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.

4. Repayment Behaviour & Credit Integration

• 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.

5. Data, Analytics & Experimentation

• 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.

6. Product Development & Cross-functional Execution

• 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.

7. Risk Management & Compliance

• 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.