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LivQuik Raises Funds From Snow Leopard Technology Ventures

LivQuikMumbai based payment technology startup LivQuik has raised an undisclosed amount of funding from Snow Leopard Technology Ventures. The funds will be used to expand its team in engineering, operations and marketing.

LivQuik was founded by Mohit Lalwani and Yudhajit Nag Sen in April 2012. It provides a mobile wallet called QuikWallet that allows users to store their credit card, debit, loyalty, and prepaid cards. The app allows to make a payment by using technologies such as QR codes, NFC, or browse the store to make a payment online. The company plans to launch the app on Smartphone platforms. It is not clear which smartphone platforms they are going to target, although a video demo showcases a BlackBerry phone.

The transaction cost charged to the consumers is also not known yet. We have contacted LivQuik and will update the article once we receive a response. The company has partnered with Gloria Jeans Coffee and Mocha outlets as their launch partners allowing users to pay through their smartphone in these outlets.

For merchants, it provides APIs that can be integrated with any point of sale billing software. Apart from that, it also provides web based virtual terminal interface to merchants. For security reasons, the company claims that customer card information never enters the merchants environment.

Other digital payment solutions:

Last month, Flipkart had informed Medianama that it is applying to launch a semi-closed prepaid wallet for consumers through their online payment solutions, Payzippy.

In May 2013, TLabs incubated VA Tech Ventures Pvt Ltd. had launched a semi-closed prepaid, mobile wallet, Happay that syncs with mobile number and SIM card to allow P2P and B2C transactions.

In March 2013, Y-Cash Software Solutions Pvt Ltd, a subsidiary of eMudhra Consumer Services Ltd,had partnered with Karur Vysya Bank to launch YPayCash, a prepaid mobile wallet and payment service.

In February 2013, Mobile payments platform, Beam Money, had partnered with MasterCard Worldwide to launch a prepaid card that will allow Beam’s mobile wallet users to transact at ATMs, physical merchants and online shops.

In October 2012, iKaaz, a Bangalore-based mobile payments solution provider, founded by ex-Nokia Money team, had launched two new mobile payment platforms for enterprises and consumers — iKaaz Consumer Wallet for Enterprise and iKaaz mPOS.

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