LivQuik joins Visa Fintech Fast-Track Program
06/29/2020
Visa & Future Group’s fintech affiliate LivQuik to work towards creating new commerce shopping experiences
Visa, the global leader in payments technology, today announced the onboarding of LivQuik, the Future Group backed payments technology company through Visa’s Fintech Fastrack Program in India.
The Visa Fintech Fastrack Program makes it easier for fintechs to access the global Visa payments network. The program is part of Visa’s global strategy to open its network and support a broad range of players that are developing new commerce experiences. The fintech fast-track program provides a new commercial framework that includes eased access to Visa’s payment capabilities and streamlined processes to support companies of different sizes and at different growth phases.
TR Ramachandran, Group Country Manager, India and South Asia, Visa said, “Fintechs such as LivQuik will play a critical role in improving financial access in India. LivQuik’s foray into issuance of Visa prepaid cards will provide a platform for multiple use-cases for both consumer and business users. We are delighted to welcome LivQuik to the Visa network and look forward to supporting their efforts to enable new experiences in payments.”
LivQuik will also work with Visa towards developing omni-commerce solutions using tokenization.
Meanwhile, LivQuik’s CEO Mohit Lalvani said, “In a post-Covid world, consumer’s payment behavior is going to evolve significantly and we will work closely with Visa and Future Group to enhance the shopping experience. While this partnership is an endorsement to the company for the innovative work done in the fintech space, we are confident that it will also enable us to significantly expand our product and solution offerings.”
Commenting on the partnership, Kishore Biyani, Founder, Future Group said “LivQuik has been a key enabler and catalyst for our Future Pay platform across our brands for payments at retail stores. Visa’s global digital payments technology and expertise with the agility of LivQuik will further build this transformation journey for the payments ecosystem in consumer business.”
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visacorporate.tumblr.com and @VisaNews.
About Future Group:
Future Group is guided by the principle of ‘Rewrite Rules, Retain Values’ in shaping the consumption space in India. It offers more than 80 brands in fashion, footwear, FMCG and food and also operates some of India’s most trusted retail chains like Big Bazaar, Central, EasyDay, Foodhall, Brand Factory, fbb, and WH Smith in India. These retail chains collectively attract over 600 million customer visits annually in more than 440 cities and towns in the country, apart from engaging millions of more customers on its digital platforms like FuturePay, BrandFactoryOnline.com, Shop.BigBazaar.com, CoverStory.co.in, among others. Find out more FutureGroup.in
About LivQuik:
LivQuik, founded in 2012 and based in Mumbai, India, is a payments technology company that provides bespoke Fintech solutions to clients worldwide. LivQuik is licensed by the Reserve Bank of India as a Prepaid Payment Issuer and Full Fledged Money Changer