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QuikWallet raises $1.6 mn from Snow Leopard Technology

Mobile payment
platform QuikWallet has recently announced that it has secured $1.6
million in follow on funding from its existing investor Snow Leopard Technology
Ventures. The venture has raised a total of $2 million over two rounds
from Snow Leopard Technology Ventures, a venture fund that provides seed
capital to internet and mobile

Mobile payment
platform QuikWallet has recently announced that it has secured $1.6
million in follow on funding from its existing investor Snow Leopard Technology
Ventures. The venture has raised a total of $2 million over two rounds
from Snow Leopard Technology Ventures, a venture fund that provides seed
capital to internet and mobile

The company wants
to take the pain out of “settling the bill”. The app now has 800+ F&B
outlets as its customers and 100k users. The app is available on iOS and
Android, and for users on other platforms the app is available at http://qw.cm.

QuikWallet has
developed an online payment gateway and interfaces directly with banks to
process payments. The company is soon launching a new feature specifically for
bars. Mohit Lalvani, CEO at QuikWallet said, “After feedback from our
restaurant partners, we realized we needed a different approach to tackle the
operational requirements of bars. 80% of payments at bars take place via cards
which are simply inconvenient. With QuikWallet’s new solution, user’s load
money via cash or entering their credit/debit card details. To pay, you simply
show a PIN generated in the App to the Bartender and you’re done!”

The company has
identified loyalty as another key focus area and outlets can either enrol into
the Quik Credits loyalty program or even choose to integrate or offer a custom
loyalty / membership offering on the platform. “We provide a unified solution
which not only helps drive additional business and footfalls, but also provides
tools to retain customers”

Founded by Mohit
Lalvani (CEO), Yudhajit Nag Sen (CTO), Vinay Pinto (VP-Technology), and Suma
Bhattacharya (Strategy), LivQuik Technology India Pvt. Ltd. is a Mumbai based
payments technology venture that is behind QuikWallet – an app for offline
payments that enables customers to pay at retail outlets and restaurants with
their smartphones.

QuikWallet works
with both near field communication (NFC) and quick response (QR) codes. The
patent pending product platform has standard application programming interfaces
(API’s) that can integrate with any point-of-sale billing software. Merchants
can also use a web-based virtual terminal interface for accepting payments or
just SMS, even without internet connectivity. 

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