Qwikcilver, a gift card technology firm based in India, has launched Woohoo Gift Card Secondary Market Exchange.
Touted to be the India’s first fully integrated consumer to consumer (C2C) gift card trading exchange, the platform helps in converting unused or partially used gift cards to cash, by listing the cards at a price of their choice, on the Woohoo gifting app.
Additionally, users will be able to convert loyalty points, generated from various loyalty programmes of multiple banks and NBFCs channels to digital gift cards, which can subsequently be sold on the Woohoo Secondary Marketplace.
The company believes that the gift card exchange will steer in freedom and choice in gifting, by giving gift card owners the choice to trade unused cards for cash.
Qwikcilver co-founder and chief marketing officer Pratap TP said: “We are truly delighted to launch our Woohoo Secondary Gift Card Exchange along with all our brand partners in time for the festive season coming up across India.
“This unique Woohoo marketplace has been built on the robust Qwikcilver technology backend to be the most comprehensive and reliable Gift Card Exchange whereby, all the Gift Cards are validated real-time & instantly, right at the time of listing by the Sellers.
“We are bullish that it has the potential to drastically increase the number of gift card users in India. With the Indian Gift Card Industry growing at 300% annually, this would help to further scale the category across a new segment of Gift Card users.”