Qwikcilver: Pine Labs sends itself a $110-million online gift voucher

Offline payments processor Pine Labs is going online with its acquisition of gifting platform Qwikcilver. There is little precedence for this move even globally. While there’s a first-mover advantage, it is a risky move

The Qwikcilver buy unlocks more revenue, more markets and the network to take Pine Labs to online merchants

Online and offline payment companies are wading into each other’s waters as they all try to get a 360-degree view of the user

Qwikcilver’s revenues come as a big top up for Pine Labs’ revenues

Out of all the growth paths available, Pine Labs’ best bet is to earn more out of every merchant it is catering to

The best gifts are those that keep on giving. It turns out buying a gift-management platform could work out the same.

Offline payment processor Pine Labs bought gifting platform Qwikcilver Solutions for $110 million last month. And that buy checks multiple boxes for Pine Labs—more revenue, more retailers to reach out in India and internationally. But most importantly, it lets Pine Labs cross over—from enabling payment acceptance over point of sale (PoS) devices across 100,000 brick and mortar retailers to the madly competitive world of powering payments for online retail.

AUTHOR

Arundhati Ramanathan

Arundhati is Bengaluru-based. She is interested in how people use money in the digital age and how new economies will take shape based on that interaction. She has spent over 10 years reporting and writing on various subjects. Previous stints were at Mint, Outlook Business and Reuters.

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