Brands
Qwikcilver drives 80% repeat transactions on Woohoo with CleverTap
MUMBAI: CleverTap, the customer lifecycle management platform, has announced that Qwikcilver, the gift card technology leader, has been able to drive repeat transaction on its B2C platforms www.woohoo.in and Woohoo Gifting App with over three-quarters of its customer base on the back of effective omnichannel marketing campaigns.
Founded in 2006, Qwikcilver is the single largest end-to-end service provider in the pre-paid, gift card space, serving some of the biggest names in retail and service industries in India, the Middle East, South East Asia, and more. It powers 9 out of every 10 gift cards and e gift cards sold in these regions and manages an annualized gross transaction value of $1.5 billion.
Qwikcilver co-founder and director Pratap TP said, “At Qwikcilver, we have always been able to keep our operations frugal, but continue to build high-quality technolog.”
He further added, “To that end, CleverTap’s customer lifecycle management suite helps us measure the real impact of our marketing spend and build a strong customer base without spending too much on customer acquisition. With CleverTap, we’ve been able to see as many as 80 per cent customers performing repeat transactions on www.woohoo.in & Woohoo Gifting App through targeted and personalized engagement campaigns across channels.”
CleverTap’s recently launched measurement dashboard – Real Impact, helps brands measure the long-term consolidated impact of their marketing campaigns. Using Real Impact, the Qwikcilver team will be able to attribute the ROI of its marketing spend to key business metrics such as revenue per user, conversion, user retention, stickiness, and more.
CleverTap co-founder Anand Jain stated, "We are proud to have been associated with Qwikcilver for over three years now, and are excited about their journey ahead”. He further added, “Qwikcilver has managed to achieve phenomenal growth by constantly innovating while keeping their operations lean and cost-effective. With the international market for gift and loyalty cards expected to grow to $506 billion by 2025, I am confident that our partnership will continue to yield great results.”
Brands
Rakesh Menon joins Paytm as avp – lending
Fintech product leader takes on new role after building digital lending, payments and credit products across fintech ecosystem
MUMBAI: Rakesh Menon has joined Paytm as assistant vice president – lending, taking on a new role focused on strengthening the company’s lending and credit products.
Prior to this, Menon worked at Profectus Capital Pvt Ltd as chief manager – payments based financing and digital lending.
At Profectus, he designed and launched digital credit products for merchants with variable cash flows, including overdraft-linked and revenue-share lending models. He led end-to-end LOS–LMS API integrations with payment partners and aggregators, enabling real-time underwriting, disbursal and repayment workflows.
He also worked on funnel optimisation initiatives using journey analytics, improving onboarding, KYC and disbursal conversion by 35 per cent. He developed ecosystem partnerships for transaction-data-based credit assessment and automated settlement systems, and collaborated with credit and data science teams to strengthen risk models and early delinquency detection.
Menon standardised partner onboarding and API frameworks, reducing go-live timelines by 40 per cent and improving digital scalability.
Before Profectus Capital, he worked at PayU as senior manager – presales lead – enterprise business from August 2022 to August 2023. He set up a national presales function for fintech and digital commerce clients, aligning solutions such as EMI, BNPL, BBPS and offer engines to merchant requirements.
He also helped improve conversion rates by around 15 per cent through merchant persona mapping, demo frameworks and structured sales playbooks, working closely with product and go-to-market teams.
From April 2019 to July 2022, Menon served as business unit head – SMB – direct acquisitions at Worldline, where he built the SMB online payments vertical from scratch. The business scaled to Rs 2,500 crore in annual transaction volume, growing at 45 per cent year-on-year.
During this period, he introduced paperless onboarding processes including eKYC and eSign, developed partner dashboards and CRM automation systems, and integrated platforms such as Shopify, WooCommerce and Tally to expand merchant adoption.
Across roles, Menon has worked across digital lending, payments and merchant financing, with experience in product development, ecosystem partnerships, API integrations and fintech-led growth strategies.
At Paytm, he will focus on scaling lending products and strengthening digital credit infrastructure within the company’s financial services ecosystem.
His appointment comes as fintech firms continue to expand their lending and embedded finance offerings in a competitive market.
