After receiving a $10 million injection of funds from Amazon Asia Pacific, Accel Partners and Helion Venture Partners, Quikcilver has launched a loyalty rewards points, gift card and virtual wallet app. The app, called Woohoo, will let users pay through mobile online and offline, has partners in brands like Levi’s, Cafe Coffee Day, Cleartrip, Myntra, Payback and MobiKwik among others.
The app was in the pipeline post funding
Post the $10 million funding, Qwikcilver founder Kumar Sudarsan had said that they would be using some of the funds raised to provide mobile gifting solutions. The company was also considering a single self-branded gift card that could be used by consumers across its client base. This move only seems natural for the company which already provides gift, frequency and loyalty cards, credit and discount cards along with employee incentive and corporate cards.
Qwikcilver might get an advantage in this space because of its history. Last month, Sanjay Tambwekar joined QwikCilver Solutions as its CTO. QwikCilver said that Tambwekar’s experience across technology practices would help QwikCilver to scale up their product platform suite and grow their enterprise architecture, e-commerce and m-commerce.
Eat, shop and transact through mobile
For the app, the company claims to have over 50 brands and access to over 3,000 stores and online brands through which it will act as an aggregator of loyalty points. It is meant to drive sales and footfall for its partner stores. It is also meant to be an all in one solution for shopping, dining or other e-transactions. According to the company, the app will integrate multiple wallets, gift cards and loyalty phones seamless through through their mobile phone.
Mobile number primary input for integration
The app uses a pin based lock to access it and integrates wallets, Payback and brand purchases to offer within its partners, who are spread across categories like restaurants, clothing, health, online booking, fashion and ecommerce. Its takes the mobile number to get wallet, Payback and Hi Fives info, where the app can be used when walking into the physical store or logging onto the website as virtual currency. The company claims that a confirmation mail is sent to the user after every transaction.
The idea of an integrated solution for loyalty, e-transactions and loyalty tracking is quite interesting. Woohoo doesn’t seem to have direct competition in this space but similar loyalty tracking apps like Sqy and Pointshelf do exist.
Recent developments in the space include:
– Last month, Mobile wallet service provider Mobikwik partnered with loyalty program provider Payback to enable MobiKwik users to earn loyalty points during transactions, and Payback users to redeem their points on MobiKwik to make purchases.
– In February, Amazon India’s e-commerce & price comparison portal Junglee introduced gift cards on its platform. The company claims to offer over 1400 physical and more than 400 e-gift cards from around 180 brands and retailers like Amazon, Shoppers Stop, BookMyShow, Makemytrip, and Mainland China among others.
– In September last year, Flipkart-owned online fashion retailer Myntra reportedly shut down its MyPrivilege Loyalty program. The company was apparently overhauling its Loyalty program and hence disabled the service.
– In June last year, Bangalore-based mobile point of sale (PoS) payments startup Ezetap acquired the Hyderabad-based loyalty platform Clinknow which enables merchants create and offer real-time offers to their customers based on their transaction history. Ezetap said that the acquisition would enable them to offer an integrated payments and loyalty solution for merchants across India. In March Ezetap raised an undisclosed amount of investment from American Express in return for a minority stake in the company.