Payments

Quisk partners with financial institutions and provides cashless transactions with a Mobile Phone Number

Founded in 2007 by Jorge Fernandes, Quisk is led by payment industry veterans and innovative entrepreneurs working together with leading edge retailers to create next generation payment infrastructure. MOBIbucks, now known as Quisk is a global technology company that partners with financial institutions and others to digitize cash and provide secure financial services and cash less transactions for anyone with a mobile phone number.

Quisk headquarters are in Silicon Valley, with additional offices in Louisville, KY and Dubai, U.A.E. The company has received a total funding of $5 Mn through investors Plug & Play Ventures and Acadia Woods Partners. Its tagline says the quick and easy way for everyone to use money!

What Quisk Does:

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About Quisk:

  • The service works by enabling users to authorize purchases by just using their mobile number and a PIN number, at coffeeshops, grocery stores and restaurants.
  • Although users must register at a bank to use the service, linking Quisk to a bank account is optional. 
  • They can also use it in place of a bank account, by simply topping up their Quisk account at local vendors or via an SMS or the MOBIbank app. 
  • Quisk has several security checks in place. First, users can set a daily limit, such as $100. The system is designed for day-to-day purchases usually under $1000.
  • Secondly, once the user punches in his mobile number to the POS machine in a store and enters his 6-digit PIN, the user can arrange to have a second PIN number sent directly to his phone or email. 
  • This will then have to be entered by the user, adding a second layer of authentication. If someone has stolen his phone, the user can shut down the service immediately. 

Integration for the merchants is minimal. Merchants need to program a soft key to accept Quisk and instruct their processor to route transactions to the company servers, which store user’s card and bank account data. The merchant’s fee for every transaction in this case is 1% plus 15 cents.

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What's in it for you or your organization:

Financial Institutions: Generate new revenues, Strengthen customer relationships and Increase ROI.

Merchants:  Increase customer loyalty, grow revenues, increase ROI & transparency and provide the opportunity to dramatically lower costs.

Wireless Operators: Monetize installed base with new revenue opportunities, differentiate your service to new customers and strengthen customer relationships.

Consumers: Quisk says that it is safe & convenient, simple, secure and saves you money. It also enables you to earn loyalty points automatically while purchasing items using Quisk payment.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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