The venture will offer consumers looking for virtual gift cards a choice of more than 150 online and offline brands across 1,500 cities in India. The companies will seek to boost offline demand by introducing gifting solutions for the kirana economy and local SMEs, a space largely untouched so far by gift cards, said a top executive at Qwikcilver. Qwikcilver, which counts 700 companies and 1 million consumers as clients, powers a billion transactions a year through its gift cards. “We have seen the gifting ecosystem steadily grow, and are already witnessing a 90% jump in the issuance of new gift cards this fiscal, over the same period last year. A Google Pay spokesperson did not respond to email queries.

Source: Hindustan Times December 07, 2020 02:37 UTC