Qwikcilver is a technology company in India delivering gift card and stored-value card solutions to retail customers. ^[1] Qwikcilver is one of the leading providers of retailer gift cards and employee reward cards in India. ^{[2] [3] [4]} It manages the entire gift card programme for retailers including design, storage and transactions pertaining to it. ^[5] The company also launched Woohoo.in and Woohoo App as its B2C platforms that enable consumers and corporate to purchase gift cards and vouchers of various brands. ^{[6] [7] [8] [9]}

Qwikcilver was founded in 2008 by Kumar Sudarshan and TP Pratap.

^{[2] [8] [10]} The company works on a Software-as-a-Service model (SaaS), enabling customers to launch the stored value card program with minimal upfront investment and provides a suite of services to create, deploy and manage the programme. ^{[1] [11]} It provides a B2B backend technology to all the transactions that happen for plastic gift cards of various brands. It powers the gift card service for brands like Shoppers Stop, ^[12] Amazon India, ^[-1] Flipkart, Myntra, Titan and Puma. ^{[3] [14]}

Qwikcilver powers the entire gift card business of over 100 brands across 20 categories like apparel, jewellery, dining, spa and travel among others.

^[15] The company is estimated to have around 90% of the prepaid and gift card technology market share in India.

^{[4] [9] [16] [17]} It processes over 50 million transactions annually across physical and digital cards across desktop and mobile in over 300 towns and cities. ^{[15] [18]}

Qwikcilver network has grown by 300 per cent year-on-year in the last four years.

^[16] At present the gift card market in India is estimated at $500 million (over Rs 3,000 crore) and projected to treble over the next two years.

^[15]

Qwikcilver initially was funded by friends and family.

^[17] The company got the first round of undisclosed amount of funding from venture capitalist firms Helion Venture Partners and Accel Partners in 2008. ^[17] In 2014, Qwikcilver raised $10 million in a funding round led by US-based e-commerce giant Amazon. ^[19] The firm’s existing investors Helion Venture Partners and Accel Partners also participated in the round. ^[20]

In March 2015, Qwikcilver roped in Sanjay Tambwekar as its Chief Technology Officer (CTO).

^[21] Tambwekar did his MS from North Carolina State University and completed management studies from INSEAD, France. ^[21] He had previously worked with NetApp, Sasken Communications and Verifone. ^[21]

In August 2014, Mahesh Bhalla was appointed as its president.

An alumnus of Institute of Management Technology (Ghaziabad), Bhalla was earlier executive director and general manager at Dell India’s consumer & SMB division. ^[22]