Qwikcilver Solutions, an India-based e-gifting platform, has teamed up with South Korean electronics giant Samsung to launch a gift card store on Samsung Pay.
Through this latest collaboration, Qwikcilver aims to tap Samsung smartphone users who are registered to use Samsung Pay. Samsung Pay users can send, receive, and use gift cards from over 20 brands.
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Qwikcilver will manage the gift card store and the gift cards can be redeemed by Samsung Pay users through NFC (near field communication) or MST (magnetic secure transmission) which will considerably reduce transaction time.
Additionally, users will not have to carry physical gift cards every time they need to redeem their prepaid balance.
Commenting on the agreement, Qwikcilver co-founder and chief marketing officer said: “We do believe that this partnership with Samsung can be a game changer for the Gift Card category.
“This would further help bolster growth and adoption of digital gift cards of leading brands and retailers.”
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By GlobalData
