Merchant commerce omnichannel platform Pine Labs announced the completion of the merger of Qwikcilver Solutions, leading to the consolidation into a single legal entity – Pine Labs Private Limited.
Qwikcilver’s existing products, solutions, platforms, and programs will continue to run without affecting users. Furthermore, Pine Labs will continue to issue co-branded prepaid payment instruments (PPIs) with the Qwikcilver brand under the same name.
“Qwikcilver and Pine Labs have established strong business synergies post the 2019 acquisition. The formal merger will strengthen the association and bring innovation and growth to our issuing business in India and our focused international markets. We will continue with our industry-leading solutions on prepaid issuing for enterprises, including gift card, rewards, incentives, and several other stored value programs,” said Kumar Sudarsan, president of Issuing Business, Pine Labs.
For the issuance, acceptance, and distribution of prepaid, stored value, and gift cards, Brand Qwikcilver provides a fully integrated digital platform and solution. It provides services to leading global airlines, e-commerce platforms, retail stores, large corporations, the hospitality industry, and the healthcare sector, to name a few.
