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December - 2015 - issue > Startup of the Year - 2015: Mobile Payment

PayQwik: Offering a Comprehensive Mobile Payment Solution at Your Fingertip

si Team
Tuesday, December 1, 2015
si Team
The age is of mobile. From calls, instant messages, social network to recharge, bill payment and virtual currency, everything is now just at your fingertip. Albeit popularity of mobile payment is not that old in India, but it has been the most expeditious. While a majority of people in India still believe in paper currency and shopping at a physical store, the youth community prefers chalking out anything and everything online. This elevating popularity of e-Commerce originated a brand new phenomenon in India in terms of mobile payment and its subsidiary mobile wallet, eliminating the hazards included in the offline payment mode. But, that's not all. Even online transactions are not as facile as people incline to cerebrate. It includes diverse payment modes, cards, and gateways that increase customers' pain. While most few of the countries globally have adopted online money transfer, it is still in a crucial phase in India as it almost takes minimum of 12 hours to get through the first transaction.

Eliminating all the challenges that a consumer can cerebrate of - app size, merchant payments, utility bill payment, car booking, money transfer (to bank & mobile), and recharge, PayQwik chartered into e-Payment industry in tardy 2014. A one-stop-solution for mobile payment, PayQwik sanctions users the liberation to consummate any transaction from just a single platform.

A One-Stop e-Payment Platform

Founded by Pankaj Kumar (CEO) &Gaurav Gupta (VP) and partners, PayQwik's journey has been a very different story. Pankaj with his partners forayed into mobile payment industry in Singapore taking care of e-Payment desiderata of Nepal & Cambodia. Gradually the company flourished and their unique integration caught eyes of First Global Data Corp. Canada which overtook company's 75 percent stake and made it a subsidiary. Pankaj, astonished by India's mobile payment market, then introduced PayQwik as a nimble player in the market. Eventually, Pankaj and his team have gone strong in the journey and now they are one of the most technologically robust mobile payment platforms.

An initiative of First Global Data Corp, a Canada based remittance company, RP Telebuy Skyshop, an e-commerce giant and Transaction Analysts Pvt. Ltd., a PPI licensed company, PayQwik offers prepaid mobile and data card recharge, postpaid bill payment, DTH, landline, electricity, Gas andInsurance payments along with money transfer, online payment service, QR payments, and Telebuy products. Through its integration with over 50 banks, cash card, debit card, credit card, net banking, and other mobile wallets, customers are able to load cash and transact online at the touch of their fingertip. Without constraining itself to just mobile payment and recharge, PayQwik withal offers ticketing solutions where customers can avail flight &bus tickets and even book car rentals and travel packages on the same platform. In U.S.A. and Canada,PayQwik, home to a mixture of management & engineering talentsalso provides a multi-currency mobile wallet through which any customer travelling to other country can facilely convert his currency to the local one and transact cashless. Pankaj expounds, "As off now, we all ken what a mobile wallet is, but despite of having such big players in the market, customers struggle with different apps that provide different service and eventually kill storage space. We at PayQwik have endeavored addressing the quandary integrating all the services under its umbrella fixating on better customer service and experience".

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