QwikCilver riding on rising demand for gift cards
The Indian gift card market is expected to receive fresh funding of up to $50 million which will enable key players such as Amazon-backed QwikCilver Solutions to ride the next wave of growth in digital cards. Increasing consumer adoption of gift cards over the last two years, especially digital gift cards over physical cards, has seen QwikCilver’s sales growing 300 per cent year-on-year. The ₹3,000-crore Indian gift market card is expected to touch ₹9,000 crore by FY-2018.