Blog, India

What makes Qwikcilver the ‘Best Tech for Retail’ ?

We are very happy to announce that Qwikcilver’s Product Suite won the “Best Tech for Retail” Award by IAMAI at the 10th India Digital Awards.
India Digital Awards was founded in 2009 with the aim to celebrate organizations, teams and practitioners who have surpassed landmarks and delivered successful business outcomes using digital as a medium. Today, IDA is the most esteemed accolade in India and a true symbol of digital excellence.
We are honored to receive not just this prestigious award but also the award for the ‘Best Prepaid Card Solutions’. Winning these awards was possible because Qwikcilver has been able to identify and provide future ready solutions for retailers and other businesses.
Let’s start by understanding what makes retailers stand out as leaders or stand down as laggards. The Retail Operational Excellence Survey by TCS has listed down the following points.
  • Launching effective campaigns
  • Able to track the effectiveness of the promo through ROI
  • The seamless checkout process at billing counters
  • Effective Marketing spend in terms of definite ROIs
  • Handling Returns and Refunds
  • Transparent and efficient reporting tools
Qwikcilver’s core business of gift card processing and distributing was also built to solve these burning issues thus enhancing their productivity and growth.
Today the solutions suite stands tall with over 100 retailers on board and over 1 billion transactions every month for one reason. 
How does Qwikcilver Product Suite stand out from other solutions?Qwikcilver’s gift card programs for retailers not only provides operational ease but also helps in amplifying sales.
Most of the solutions that retail companies partner with, only ease their operations; like faster checkouts by introducing digital wallets or it eases the supply chain load. Qwikcilver’s product suite powers a brand currency which performs all of these functions but most importantly, helps in amplifying sales directly by exposing the brand/store to a wider audience without having to spend millions in print, TV and digital media ads (which could ensure only visibility rather improve the purchase intent.)
What's even better? These brand currencies ensure greater ROI as distributing costs of these currencies are recovered almost 10-fold with a single purchase of their goods and has greater checkout efficiencies.
Qwikcilver’sProduct Suite consists of a gift card management software that has helped solve top concerns faced by retail companies, such as
  1. Converting shoppers into paying customers. 
  2. Disparate systems lead to less efficient processes - Big retail companies on average use over 1000 plugins and tech platforms to be able to perform a transaction end to end. These technology systems cannot afford to fail especially on days of huge traffic
  3. Multiple payment options
  4. Incurring costs while processing refunds in terms of bank processing fees and other transactional overheads.
The elaborate solution suite harnessed digital technology to help mitigate these problems and amplify revenue in 2 ways:
  1. Processing Platform: Making the brand currency in the form of gift cards, promotions or refunds seamless during integration and during usage. Subsequently, it has helped the customers with easier checkouts and ensured operational turnaround time for retailers to the tune of milliseconds.
  2. Distribution Platform: Featuring and proliferating these brand currencies in a variety of use cases (like corporate R&R), on millions of external channels (resellers). This helped justify and reduce marketing costs while ensuring higher ROI as the retailer must pay for the brand currency distribution only once a sale is made.

What innovations does the Product Suite offer?

Qwikcilver’s Product Suite consists of an umbrella of products which communicate seamlessly with each other as well with the retailer at minimal cost in terms of dedicated resources or need for such expertise.
Qwikcilver PoS API - The API Suite that enables over a million stores (offline and online) integrate the gift card program into their existing transaction systems
QwikReports: An elaborate repository of 24 most important reports for settlements, sale, redemption, reconciliation while also giving the merchant the option to generate custom reports
QwikPromos: A highly efficient way to manage your promos and ROI
Qwikcilver Wallet Suite (Non-integrated Wallet, Wallet API) – To help the customer keep all brand currencies like promo offers, gift cards and refunds in one place and maximise its usage. This helps prevent breakages and the burden of carrying around multiple vouchers
Qwikcilver Refund Suite - Easy Product suite for managing the refunds without additional overheads and loose ends. This enabled refunds to be processed faster while ensuring further purchase on that amount would be with the same retailer
Qwikcilver Core system (The core system which helps activate, redeem, balance check and other key functions)
Qwikcilver order management system (The core platform processing the gift card orders)
Qwikcilver bulk order Tool (For Corporates who would like to make bulk purchases without having to depend on customer services desk)

What benefits can you expect from the integration?

The Benefit to the Retailers
  • Single ID to manage all transactions
  • Seamless redemption – Qwikcilver system enables a simple yet secured redemption process
  • Faster refunds
  • Reports which are easy to retrieve and detailed enough to make further analysis
  • Transparency – Transaction history, eligible promotions all in a single place
  • Access to the brand offers which will help them explore new brands
The Benefit to the Retailers
  • Retail Marketing teams have been able to run seamless marketing campaign and gift card promotions effortlessly. They have also been able to track the effectiveness in real-time.
  • It has also ensured better engagement with the customers by sending out expiry reminders, tracking usage, etc.
  • The retail operation team tasks have been simplified as no paper vouchers are involved and everything is managed digitally.
  • The finance team can enjoy the easy refund management, cost-effectiveness, and transparent reporting.
These are just some of the benefits that you can expect on using our expertise on gift cards. So, whether you want to enable gift card transactions at every touch point or manage multiple currencies from a single container, we’ve got a solution for you.
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    About IAMAI

    The Internet & Mobile Association of India (IAMAI) is not-for-profit industry body registered under the Societies Registration Act, 1860. Its mandate is to expand and enhance the online and mobile value added services sectors. It is dedicated to presenting a unified voice of the businesses it represents to the government, investors, consumers and other stakeholders.

    About India Digital Awards

    Founded in 2009, with the aim to celebrate organizations, teams and practitioners who have surpassed landmarks and delivered successful business outcomes using digital as a medium. Today, IDA is the most esteemed accolade in India and a true symbol of digital excellence.