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Online giftcard platform QwikCilver has launched Woohoo, a mobile application where customers can aggregate their various currencies including loyalty points, payback, rewards, wallets, among others and use them to purchase from online or offline retailers that the company has partnered with.
The app enables customers to use those currencies that are idle, scattered and not used due to various reasons. It enables one to dine, gift, spa and beauty treatment and watch a movie.
Woohoo has been launched on Google Playstore and will soon expand to other platforms.
The app helps the consumer manage cash better and can manage the reward points, air miles, gift vouchers, wallets, utility bills among others, all on one single platform. It currently has 50 retail chains on board with more than 3,000 stores.
Woohoo aggregates all these different currencies on one platform and the customer could seamlessly start spending it online and offline partners of QwikCilver. Woohoo links the currencies enabling customers to start spending these. The platform is integrated into the billing system of all the partners.
“Through Woohoo we are leveraging the network that we have already created through QwikCilver,” said Kumar Sudarsan, founder and director, QwikCilver.
Currently, QwikCilver has partnered with a number of online and offline retailers. The offline partners spread across 80 brands and includes Shoppers’ Stop, Titan and Lifestyle, among others.
Their major online partners include Amazon, Myntra, Flipkart, Cleartrip and Snapdeal. Payback, Mobikwik and Oxicash are among the currency partners of QwikCilver.
“We are in talks with more currency partners,” he added.
The company is also planning to introduce a facility where the currencies could be gifted using their platform. “Our aim is to deliver additional value to consumer’s money,” added Sudarsan.
QwikCilver, a Bengaluru-based firm was started in 2008 by Sudarshan along with Pratap T P, co-founder and chief marketing officer. They have been in the market for about 5-6 years.
With the launch of Woohoo, QwikCilver now targets two markets in India — the gifting market, worth $7 billion and gift cards as a category.
According to Kumar, the user base that the company is targeting is upwards of 100 million in India with Woohoo.
QwikCilver has closed two rounds of funding when they raised funds from Helion Ventures and Accel Partners. The company had also raised $10 million minority investment from Amazon in 2014.
QwikCilver has a headcount of 250 individuals, of which about 50 were working towards the development of the app.
