Qwikcilver launches Woohoo Gift Card Exchange

Bangalore, August 26, 2016: Qwikcilver solutions, India’s pioneering Gift Card technology & end-to-end Prepaid Solutions company has launched Woohoo Gift Card Secondary Market Exchange – India’s First Fully Integrated Consumer to Consumer (C2C) Gift Card Trading Exchange marketplace for consumers. This new initiative enables consumers to convert their unused or partially used Gift cards to cash, by listing the cards at a price of their choice, on the Woohoo Gifting App. Consumers will also have the opportunity to convert loyalty points (current outstanding estimated to be over 10,000 crore points), generated from various loyalty programs of multiple banks and NBFCs channels to digital gift cards, which can subsequently be sold on the Woohoo Secondary Marketplace.

The Gift Card Exchange is an innovation that will usher in genuine freedom and choice in gifting, by giving gift card owners the option to trade unused cards for cash in addition to the opportunity to buy what they want. Buyers, on the other hand, are able to purchase gift cards from leading brands at special prices with Qwikcilver guaranteed card validity and value.

Commenting on the launch, Pratap TP, Co-Founder & CMO, Qwikcilver said, “We are truly delighted to launch our Woohoo Secondary Gift Card Exchange along with all our brand partners - in time for the festive season coming up across India. This unique Woohoo marketplace has been built on the robust Qwikcilver technology backend to be the most comprehensive and reliable Gift Card Exchange –whereby, all the Gift Cards are validated realtime & instantly, right at the time of listing by the Sellers. We are bullish that it has the potential to drastically increase the number of gift card users in India. With the Indian Gift Card Industry growing at 300% annually, this would help to further scale the category across a new segment of Gift Card users.”