MUMBAI: Gift card technology and services company QwikCilver Solutions has unveiled its new logo. The company has partnered with more than 100 retailers and e-tailers to herald a new gifting way in India.

Having powered most of India's top brands, driving over 10,000 premium point-of-sale locations across 250 cities and towns, the company has unveiled a new brand identity.

QwikCilver Solutions co-founder and CMO TP Pratap said, “To reinforce our strong association to drive innovations in the Gift Card stored value segment, we have embarked on a rebranding of our QwikCilver brand. This is a reaffirmation of our commitment to the Indian retail gifting segment. We are delighted to launch our new QwikCilver Logo identity at the flagship Retail Leadership Summit (RLS) in the presence of many of our trusted brand & retail partners.”

One of the fastest growing segments in the Indian consumption segment, gift cards are poised to become a $1 billion industry by 2017-18. “People are very comfortable in buying gift cards and hence, we had to change the logo to be symbolic to this change. In the new logo, Q is an energy button, which emphasizes on the fact that we are the energy source in the sector,” added Pratap.

The new identity, though ideated in-house, was created by People Advertising. “It is a boutique agency as we are a startup, we are always helping others,” said Pratap.