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Improving Customer Stickiness with Payment Solutions by Qwikcilver

Technology has not only changed the way businesses are run but has also influenced the way consumers act. With the rapid pace of technological advances, customers are looking for convenience and cost-effective solutions that require as little time as possible. The concept of convenience has evolved over the years to the point that the younger consumers want all products and services to be available at a push of a button, anyplace and anytime. So, what does this mean for retailers and brands? While most companies are leveraging technology to offer easier ways to shop, can they further enhance the customer experience by using innovative payment technology?
Today’s consumers are over-scheduled, under-rested and so time-starved that quick and easy solutions have become the need of the hour. Using online payment solutions such as different types of digital wallets can enhance the speed and reliability of the checkout process, adding to positive customer experience. Some of the advantages of using digital payment technologies include:
  • Greater level of convenience for the customer
  • Living up to the customer’s expectations with improved service quality
  • Easy way to connect customers with the brand
  • Increased business revenue

What does Qwikcilver offer?

As Gift Card pioneers, Qwikcilver has revolutionized the gifting landscape with the future-ready payment solutions. We have built up a state-of-the-art Stored Value Platform exclusively for managing gift cards for Merchants, Retailers, and Brands. Stored value systems are a form of electronic payment technology. They coexist with credit cards, debit cards, UPI technology, and principally target the low-value transactions.
Our robust and business use case driven payment solutions for merchants enhance the customer experience by enabling easy to use convenient and faster checkout process. These also bring out the ‘One-View’ of merchant’s consumers which is very important for a business. Leveraging our stored value platform, we have designed some world-class payment solution offerings such as QwikWallet and QwikRefunds.

Unlocking your brand’s full potential with QwikWalletx

Empower your customers with the means to manage various brand currencies under one single account. With this single sweep as a brand you are not only unifying all your various customer touchpoints but also allows you to customize your offerings to your customers based on their recent transactional behavior or other brand engagements.
QwikWalletx is a white-labeled wallet solution that enables the merchant to launch a unified wallet for its end customers. Each customer can be tied to a unique wallet that can contain multiple currencies like gift cards, refunds or store credits, cashback, promotions, loyalty points, etc. With an end to end functionality built around the product, it allows the end customer to load/credit and redeem/debit money from the wallet. This creates a seamless one-click checkout process at the online or offline retail stores.
Every merchant is looking for ‘One-View’ of their consumers, QwikWalletxdelivers that and more. Qwikcilver provides lightweight APIs for merchants to integrate with the QwikWalletx product. This integration enables real-time transactions on the customer linked wallet for credit and debit. The wallet is always linked to a unique customer ID - mobile number or email ID or merchant generated customer ID.  Different currencies can be credited to the wallet based on the business use cases. Payment done through the wallet is achieved by a single click wherein the entire logic of redemption across various currencies is handled by Qwikcilver. 
Here are some examples of how our clients are using the solutions provided by QwikWalletx  to create higher customer engagement-
Snapdeal has built its wallet solution using QwikWalletx as an effective mechanism to create a higher level of engagement with its customers. Snapdeal can run multiple promotion campaigns to the target set of customers by pushing promotions to the customer wallets on a real-time basis.
Pepperfry wallet is used to push cashbacks and promotions to its customers and credit refunds for order returns. This increases the stickiness with the brand and results in immediate order placement.
Pepperfry wallet is used to push cashbacks and promotions to its customers and credit refunds for order returns. This increases the stickiness with the brand and results in immediate order placement.
Lenskart wallet is used to push promotions and referral points to its end customers in order to create higher engagement with the customer and provide frequent promotional offers.
Croma has implemented a customer wallet for its offline store wherein a customer can use his/her consolidated wallet balance at the offline stores. A Croma customer can store all his gift cards, promotional cards, and refunds in the wallet linked to his mobile number and use the balances during product purchases.
Croma has implemented a customer wallet for its offline store wherein a customer can use his/her consolidated wallet balance at the offline stores. A Croma customer can store all his gift cards, promotional cards, and refunds in the wallet linked to his mobile number and use the balances during product purchases.

Make your customers return for more with QwikRefundx

As a retailer, returns from the customer are quite common, but have we ever used a return as an opportunity to retain or engage a customer? Now with QwikRefundx brands have the power to manage refunds, buybacks, and credit notes effectively and in the process woo your customer and engage them.
QwikRefundx allows you to issue refunds in the form of Gift Cards. Gift Cards enable you to have a greater rapport with your customer as a result of enhanced customer stickiness and retention. For the customer not only is there a higher convenience but also increased trust as the refund happens in real-time. For the retailer apart from not indulging in cash outflow, the Gift Card based refund retains the customer and bundles along with it a potential for a sales uplift when the card is redeemed at a later stage.
Online marketplaces like Amazon, Flipkart, TataCliQ, and Myntra create refunds via gift cards issued by Qwikcilver by which the refund amount is directly added to the customer's account.  
So, if you’re ready to experience all these benefits along with building a great rapport with your customers, then talk to our experts now! 

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