Merchant commerce platform Pine Labs announced on September 23 that it has completed the merger of digital gift card company Qwikcilver Solutions Private Limited, acquired in March 2019, with itself.
With this development, the business of Qwikcilver gets consolidated into a single legal entity -- Pine Labs Private Limited, according to a press release.
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) will be issued by Pine Labs under the brand name of Qwikcilver, the press release added.
Kumar Sudarsan, President of Pine Labs, said, "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," he added.
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