Google Pay forays into digital gifting, partners with Qwikcilver
Live MintDigital payments major Google Pay has ventured into the digital gift cards category by partnering with Pine Labs-owned Qwikcilver, as it looks to issue real-time virtual gift cards to users from more than 150 online and offline brands, across 1500 cities in India. While newer products are still under discussion, Google Pay and Woohoo might even look at boosting offline demand by introducing gifting solutions for the kirana economy and local small and medium enterprises, a space largely untouched by gift cards, a top executive at Qwikcilver said. For Google Pay customers this partnership helps customers buy digital gift cards on the platform in real-time across segments of apparel, hospitality, travel and the entire diaspora of offline retail. Google Pay continues to be one of the market leaders in terms of monthly Unified Payments Interface transactions, holding close to 42% average market share, and closely competes with Bengaluru-based digital payments major, PhonePe.