Merchant commerce omnichannel platform, Pine Labs today announced the completion of the merger of Qwikcilver Solutions. With this development, the business of Qwikcilver Solutions Private Limited gets consolidated into a single legal entity i.e., Pine Labs.
All the existing products, solutions, platforms, and programs by Qwikcilver will continue to operate seamlessly with no impact on users. Going forward, all co-branded Prepaid Payment Instruments (PPIs) under Qwikcilver brand name will be issued by Pine Labs under the brand name of Qwikcilver.
Commenting on the announcement, Kumar Sudarsan, President, Issuing Business, Pine Labs, said “Qwikcilver and Pine Labs have established strong business synergies post the 2019 acquisition. The formal merger now will strengthen the association further and will usher in a new era of innovation and growth for our issuing business in India and our focused international markets. We will continue to wow our customers with our industry-leading solutions on prepaid issuing for enterprises including gift card, rewards, incentives, and several other stored value programs."