LivQuik

What LivQuik does

LivQuik Technology (India) Private Limited is a Chennai-headquartered, RBI-licensed Prepaid Payment Instrument (PPI) issuer founded in 2012. The company operates an API-first, microservices-based prepaid issuance platform that powers open-loop and closed-loop cards across Visa, Mastercard, and RuPay networks, and is also documented as India's first non-banking PPI to receive a FASTag issuing license from NETC (NPCI). Its product portfolio centers on three pillars: (1) a Prepaid Card Issuance Stack with embedded vKYC, 3DS authentication, tokenization, and multi-tenancy; (2) QuikWallet, a UPI-enabled mobile application that consolidates FASTag, NCMC, meal card, and UPI wallets in a single interface; and (3) FASTag issuance and fleet expense management, including the FASTag Partner Program for agents and fleet owners. Co-branded prepaid programs for fintech partners (Akudo, Wyld, Khyaal, Gosats, Zenpay, Kodo, Galgal, Credenc, Muvin, Karbon, 7Rings) extend its reach across teen, elderly, influencer, fleet, and wearable-payment segments.

The company monetizes through a mix of transaction processing fees, FASTag issuance fees (capped at INR 100 per tag), annual maintenance charges (INR 250 + GST on inactive accounts), and licensing/royalty revenue from co-branding and white-label partnerships, with payment aggregation revenue pending RBI PA license authorization. Distribution is multi-channel: APIs/SDKs/plugins for enterprise and fintech integration, a QuikWallet consumer app, a FASTag POS agent network, partner self-care portals, and a fleet management web portal. LivQuik's certifications include PCI-DSS (Crossbow Labs) and GDPR compliance, and the platform is cloud-agnostic and auto-scalable. Operating geographies are India-only, with the largest disclosed end-user footprint being 500K+ senior citizens served through the Khyaal co-branded elderly card program.

Leadership comprises Executive Director Abhishek Arun (prior PayTM and RBL Bank leadership) and Non-Executive Director Muthukumar Ayyakannu (former PayPal, Visa, Movida, Fujitsu, Satyam), with founders Suma Bhattacharya and Yudhajit Nag Sen plus VP Vinay Pinto cited on the company timeline. Total disclosed funding is approximately $6.1M across a 2013 seed ($500K) and 2015 Series 1 ($1.6M) from Snow Leopard Technology Ventures, and a $4M corporate round from M2P Fintech in September 2021. Revenue, employee count beyond the 51–100 range, and ownership structure beyond the M2P investment are not publicly disclosed.

Name

LivQuik

Legal name

LivQuik Technology (India) Private Limited

Website

https://livquik.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

LivQuik is a Chennai-based, RBI-licensed fintech that operates an API-first prepaid payment instrument issuance platform and is India's first non-banking entity licensed by NETC to issue FASTag. It serves fintech partners (Akudo, Wyld, Khyaal, GoSats, and others), fleet operators, and underserved consumer segments (teens, elderly) via co-branded cards, QuikWallet, and FASTag.

Ownership category

akta.pro rank

Product category

Prepaid Payment Infrastructure

NAICS

Software Publishers (513210)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Embedded Card Issuing & Card-as-a-Service (FSAGALAC)

akta.pro secondary industry

Card Issuing & Program Management Platforms (BPAMAFAH)

Keywords

• Prepaid payment instruments
• FASTag issuance
• White-label card programs
• Prepaid issuance platform
• UPI-enabled digital wallet

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Processing Fees: Fees charged on payment transactions processed through their prepaid instruments, payment aggregation, and FASTag services.
2. FASTag Issuance Fees: FASTag PPI holders may be charged up to ₹100 as issuance fee per tag.
3. Annual Maintenance Charges: Inactive accounts may be charged ₹250 plus GST as annual maintenance fee.
4. Co-branding/White-label Partnerships: Revenue from enterprise clients and fintech companies using LivQuik's prepaid stack for branded card programs.
5. Payment Aggregation: Processing fees from online payment acceptance services for merchants, though currently awaiting RBI PA license authorization.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

LivQuik is an RBI-licensed, non-bank issuer of Prepaid Payment Instruments (PPIs) that provides an end-to-end prepaid issuance platform via APIs, SDKs, and Plugins. Its core offerings span a complete prepaid card issuance stack (open-loop and closed-loop cards with program, lifecycle, and usage management), the UPI-enabled QuikWallet mobile app for real-time card and multi-wallet management, and FASTag electronic toll collection as India's first non-banking PPI to hold an NETC issuing license.

Product overview

LivQuik is a technology-first fintech company founded in 2012, headquartered in Chennai, operating as an RBI-licensed prepaid payment instrument (PPI) issuer. The company offers a unified platform-plus-modules architecture centered around three core products: (1) Prepaid Card Issuance Stack providing the foundational infrastructure for card programs, (2) QuikWallet as the UPI-enabled mobile wallet for real-time card management and multi-wallet operations, and (3) FASTag as India's first non-banking PPI with NETC license for electronic toll collection. The platform supports diverse prepaid card types including GPR, Payroll, Transit/NCMC, Travel, Incentive, Business, Insurance, Student, Elderly, Health, Gift, and Shopping cards, along with co-branded programs (Akudo, Wyld, Zenpay, Kodo, Galgal, Credenc, Muvin, Karbon, Gosats, Volopay) and specialized offerings like the 7Rings contactless payment ring. Enterprise features include the Control Centre for corporate card management, multi-wallet fleet expense solutions, and API/SDK integration capabilities. The technology stack is built on microservices architecture, is cloud agnostic and auto scalable, available via APIs, SDKs, and Plugins.

Differentiator

Problem solved

Functional benefit

Brands

• QuikWallet: UPI-enabled digital wallet application for real-time management of prepaid card operations, supporting FASTag, NCMC Card, Meal Card, and UPI with multiple wallets.

Products and services

• Prepaid Card Issuance Stack Non-bank, RBI-licensed prepaid payment instrument (PPI) platform providing complete end-to-end prepaid issuance with 100% compliance and program management. Supports open-loop and closed-loop cards, multi-tenancy, and configurable BIN ranges for fintech and enterprise partners.
• QuikWallet UPI-enabled mobile application that provides real-time management of prepaid card operations including balance checking, transaction limits, card blocking, and multi-wallet management for FASTag, NCMC Card, Meal Card, and UPI in a single application for end users and fleet operators.
• FASTag RFID-based electronic toll collection product under the NETC initiative, issued by LivQuik as India's first non-banking PPI-licensed FASTag issuer. Supports multi-vehicle fund loading, toll payments, parking fee payments, and dedicated QuikWallet integration for fleet and individual users.
• Control Centre Corporate Card Portal Corporate card management portal providing multi-level access control, card inventory management, branch funding at wallet level, beneficiary management, customer management, transaction monitoring, and dispute handling for enterprise card programs.
• Expense Management Cards Prepaid expense management cards for employees providing access to company funds with smart spending controls, configurable limits, and full lifecycle management under LivQuik's corporate prepaid programs.
• 7Rings Contactless Payment Ring India's first contactless payment ring linked to a digital prepaid wallet, designed to be worn on the finger for contactless payments and topped up through mobile applications via LivQuik's prepaid infrastructure.
• FASTag Partner Program Agent and fleet-owner partner program for FASTag that provides commissions on sales, KYC support, bulk tag issuance, vehicle onboarding, tag replacement, and troubleshooting services across India.

Quantifiable outcome

• Average waiting time at toll plazas reduced from 8 minutes to 47 seconds with FASTag implementation
• +2 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability8 records

Feature8 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• NPCI (National Payments Corporation of India)coreStrategic or Co-development PartnerNETC (National Electronic Toll Collection) program operator. LivQuik is India's first non-banking PPI to receive FASTag issuing license from NETC. Partnership enables FASTag issuance and integration with India's electronic toll collection system.
• RuPaycoreTechnology or IntegrationRuPay-powered virtual and physical cards supporting over 600 banks globally. QuikWallet FASTag and prepaid cards operate on RuPay network.
• NHAI (National Highways Authority of India)coreStrategic or Co-development PartnerGovernment authority overseeing National Electronic Toll Collection (NETC) initiative. IHMCL (Indian Highways Management Company Limited) is the implementing body for FASTag operations.
• VisacoreTechnology or IntegrationCard network partner for open-loop prepaid cards. Visa grey and light logos appear on LivQuik's platforms indicating partnership for card issuance.
• MastercardcoreTechnology or IntegrationCard network partner referenced for open-loop card interoperability. Mentioned alongside Visa and RuPay as supported card networks.
• UPI (Unified Payments Interface)coreTechnology or IntegrationQuikWallet app is UPI-enabled for real-time payments. LivQuik supports UPI handles issuance through the QW App and PPI-to-PPI interoperability via UPI.
• GTropyminorStrategic or Co-development PartnerGPS-based fleet management solutions partner. GTropy provides fleet management and data analytics, integrated with LivQuik's FASTag and fleet payment solutions.
• Park+minorStrategic or Co-development PartnerDigital parking solutions provider enabling FASTag parking payments at various locations across India.
• AxlerateminorStrategic or Co-development PartnerFleet expense management solutions provider offering unified platform for truck owners, fleet managers, and drivers.
• Oil Marketing Companies (OMC)minorStrategic or Co-development PartnerPartnership with oil companies like HPCL, IOCL, BPCL for fuel payments through QuikWallet. Enables FASTag wallet balance utilization for fuel expenses.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• M2P Fintech: M2P Fintech is India's leading API-based banking and card issuance infrastructure platform serving 1,000+ fintech clients. It is a direct peer and strategic investor in LivQuik ($4M in 2021), offering competing prepaid card issuance, payment aggregation, and lending infrastructure to fintechs and enterprises in India.
• Decentro: Decentro is an API-first banking infrastructure platform in India providing payment APIs, card issuance, KYC, and account aggregation services. It competes directly with LivQuik in serving fintechs and enterprises seeking embedded financial infrastructure including prepaid card issuance.
• Wibmo: Wibmo (acquired by Naspers/Paysafe) provides payment security, fraud management, and 3D Secure services along with prepaid card issuance infrastructure. It competes with LivQuik in the card issuance and payment authentication space serving banks and fintechs in India.
• Cashfree Payments: Cashfree Payments is an RBI-authorized payment aggregator offering payment gateway, payouts, and prepaid card issuance APIs. It directly competes with LivQuik's payment aggregation ambitions and serves a comparable fintech and enterprise customer base in India.

Emerging players

• Open Financial Technologies: Open Financial Technologies (open.money) is an Indian banking-as-a-service platform offering account, card issuance, payment, and lending APIs to fintechs and businesses. It overlaps with LivQuik's embedded card-issuing value proposition while operating at a broader BaaS scope.
• YAP Fintech: YAP is an Indian fintech infrastructure platform providing prepaid cards, account aggregation, and digital banking APIs to fintechs and corporates. It overlaps with LivQuik's white-label prepaid issuance business with a comparable target market and developer-led GTM.

Broad incumbents

• Razorpay: Razorpay is one of India's largest fintech platforms offering payments, banking, and capital products to businesses. While broader than LivQuik's niche, Razorpay's RazorpayX and issuing capabilities overlap with LivQuik's prepaid infrastructure offering for enterprises and fintechs.
• Pine Labs: Pine Labs is a major Indian merchant commerce and payments platform serving enterprise retailers with point-of-sale, gift cards, and prepaid solutions. It overlaps with LivQuik's prepaid/gift card business and corporate card programs at a larger enterprise scale.
• Visa: Visa is a global card network and a direct technology partner of LivQuik (powering open-loop prepaid cards including the Khyaal Visa Platinum). As a broad incumbent, Visa provides competing prepaid issuance capabilities through Visa Direct and partner programs at global scale.

Regional players

• India1 Payments: India1 Payments operates one of India's largest white-label ATM and payment networks focused on semi-urban and rural markets. While its core business is ATM deployment, it operates in the same Indian prepaid/transactional payments ecosystem as LivQuik with overlapping regulatory positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/QuikWallet
• Facebookfacebook.com/QuikWallet
• LinkedInlinkedin.com/company/livquik
• Instagraminstagram.com/livquik.technology/?hl=en

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LivQuik