Merchant commerce omnichannel platform, Pine Labs announced its partnership with Singlife with Aviva, a financial services company in Singapore.
Through this partnership, all customer-facing platforms and internal employee gift cards for Singlife “will be powered by Qwikcilver, a Pine Labs brand.” Pine Labs will also “extend its QwikGiftAPI product to enable multi-brand gift cards on the Singlife app platform and QwikServ product to enable generation of multiple gift cards with ease.”
Qwikcilver reportedly “delivers a robust tech-first platform for end-to-end issuance, acceptance, and distribution of physical and digital gift cards.” The brand already “powers more than 3.6 billion gift cards across diverse industry verticals including e-commerce, travel, hospitality, retail, healthcare, beauty and wellness, to name a few. With 665 million cards issued to date, enabling 1.47 billion transactions in 17 countries, brand Qwikcilver is one of the market leaders in the gift card space.”
Dheeraj Chowdhry, Chief Business Officer & Head – Pay Later, Southeast Asia, Pine Labs, said:
“Our gift card vertical Qwikcilver, a stored value platform providing enterprise and B2C solutions is second to none and has a formidable presence in India, Southeast Asia and some of the other key western markets. Our tie-up with Singlife will elevate the experience of their customers and empower this renowned organisation with the ability to scale their gift card initiatives. I welcome them on this journey to improved customer experience and engagement. A progressive market economy like Singapore is inching closer to becoming a truly cashless society and at Pine Labs we are proud to play our part in it.”
As noted in the update, Pine Labs is a merchant commerce omnichannel platform “operating across India and Southeast Asia.” Pine Labs’ tech-first approach to digital payments and focus on simplification at the front end “aims to help many businesses embrace fintech products at scale.”
In digital payments, the firm’s online payments cloud-based software Plural “represents a one-stop payments destination across channels.”
Plural is “designed to deliver secure and frictionless online payment experiences to the end user, powered by an advanced tech stack that can augment an existing online business or build an all-new e-commerce payment setup from the ground up.”
In issuing, Qwikcilver reportedly “serves corporates, Fast-Moving Consumer Goods (FMCG) brands, e-commerce companies, the Banking, Financial Services and Insurance (BFSI) sector and the airlines industry, with a presence across India, the Middle East, Southeast Asia and Australia.”
Qwikcilver is “a go-to prepaid, stored value and gift card provider among companies looking to, among other things, bolster their sales, acquire and retain customers and drive operational efficiencies.”
In consumer app, Fave is “a fintech platform for the next generation of consumers, providing smart payments and savings, while empowering merchants with a loyalty solution to grow and engage with their customers in a whole new way.”
Incorporated in Singapore, the key investors of Pine Labs “include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard.”