FAQ for Wallets

What are the general terms for load/reload/payment via Wallet?:
A. For PPIs upto Rs.10,000/- by accepting minimum details of the PPI holder:
LivQuik no longer issues such wallets. Post 29.02.2020, ‘minimum detail’ wallet ceased to be KYC compliant. No further wallet loads would be accepted. Those who have not converted their wallets to low KYC within cut off date can only use their balance which was outstanding as on 29th February, 2020.
B. For PPIs upto Rs.1,00,000/- by accepting full KYC of the PPI holder:
i. The amount outstanding shall not exceed Rs.1,00,000/- at any point of time.
ii. In case of such pre-registered beneficiaries, the funds transfer limit shall not exceed Rs.1,00,000/- per month per beneficiary.
iii. The funds transfer limits for all other cases shall be restricted to Rs.10,000/- per month.
C. For wallet with limit upto Rs. 10,000/- with loading only from bank account (commonly known as ‘Low KYC Wallets’):
i. Such wallets shall be reloadable in nature and issued in card or electronic form. Loading / Reloading shall be from a bank account and/or credit card.
ii. The amount loaded in such wallets during any month shall not exceed Rs.10,000 and the total amount loaded during the financial year shall not exceed Rs.1,20,000.
iii. The amount outstanding at any point of time in such wallets shall not exceed Rs.10,000.
iv. These wallets shall be used only for the purchase of goods and services and not for funds transfer.
v. In the event of closure of such wallet, LivQuik shall transfer the funds ‘back to source’(payment source from where the wallet was loaded) at the time of closure.
What is the validity period for wallets?
All the above wallets issued by LivQuik have a minimum validity period of one year from the date of last loading / reloading.
General FAQs
1. Can I change my phone number associated with the wallet?
QuikWallet uses your phone number for identification purpose. We recommend to use the same phone number for your log in. Changing phone number will create a new account and we do not allow creation of multiple accounts by a single wallet user. Also, QuikWallet credits, card/transaction details of your old account won’t be reflected in this account.
2. Why does QuikWallet use my phone number?
QuikWallet uses your phone number to identify you as an user on our application. We do not use our user’s phone number for any third party marketing purposes.
2. Why does QuikWallet use my phone number?
Yes, you can. Verification code/notification SMS will be sent only on your registered phone number.
Payment related queries
1. How do I add a card?
Click on the draw menu icon (top left) >Go to Cards Click ‘+’ sign (top right) >Enter card details (Card Number, Expiry, Name on Card) >Click ‘Save’
1. How do I add a card?
Go to Cards >Select a card >Click on the ‘bin’ icon (for iOS)>Tap and hold the card (for Android) >Select ‘OK’
3. How do I make a payment through wallet?
Go to Home > Select the options from Spend money (Food/beverages;Retail;Utilities) > Select where you wish to make the payment > Click on QuikPay > Select Wallet > Make payment).
4. How do I recharge a prepaid card?
Click on the place >Click on the prepaid icon ( beside Quik Pay icon) >Enter Amount Click ‘Recharge’ >Enter CVV/CSC >Click on ‘Pay Securely’ >Enter 3D security password >Press ‘Done’ after successful payment
5. How do I pay my Phone bills? Or How do I recharge my phone?
Click on the draw menu icon >Select Mobile Recharge >Select prepaid or postpaid > Enter required fields and proceed to payment
What are the terms regarding fees & charges:
i. Though LivQuik does not charge QuikWallet Account Holder any fees as of now, it reserves the right at any time to charge the QuikWallet Account Holder fees/ charges for the transactions carried out by him on QuikWallet. Details of applicable fees and charges are subject to change from time to time.
ii. Any government charges, or debits, or tax payable as a result of the use of QuikWallet shall be QuikWallet Account Holder’s responsibility.
iii. Amounts due and payable by QuikWallet Account Holder, if not paid separately shall be recovered by LivQuik from the Available Amount.
Account related
1. I forgot my password, what to do?
Click on ‘Forgot Password?’ which will send a reset password link on your email. Click on the link to enter new password
2. Can I close my QuikWallet account?
You can always unlink your device from QuikWallet. Click on the draw menu >Settings>Select ‘Unlink device’ option.
Security
1. Is my credit/debit card information completely safe on your application and website?
QuikWallet is PCI DSS 2.0 certified and uses Verisign certified 128-bit encryption technology. Thousands of users transact on QuikWallet’s secure payment platform every month. You can be rest assured that your online transactions at QuikWallet.com are completely safe.
2. What is PCI DSS certificate?
PCI DSS 2.0 security norms have been laid down by payment card industry leaders like MasterCard, Visa, Discover and Amex.
3. What is verified by VISA (VBV)?
VBV is an additional protection offered by Visa in conjunction with your credit card issuing bank. VBV protects your Visa card with a VBV password (also referred to as the 3D secure password) that has been created by you. It also provides the added assurance that only you can use your Visa card online. You can simply register your card and choose a 3D secure PIN. This PIN will be required whenever you use your card to make Internet purchases. It prevents unauthorised usage of your card on the Internet, ensuring greater security on online purchases.
4. What is MasterCard secure code?
MasterCard Secure Code is a service offered by banks in partnership with MasterCard. This service provides a way to PIN-protect your card usage on the Internet. You can simply register your card and choose a 3D secure PIN. This PIN will be required whenever you use your card to make Internet payments. It prevents unauthorised usage of your card on the Internet, ensuring greater security on online purchases.
5. What is verisign certificate?
Verisign certified 128-bit encryption technology ensures that any information you enter when transacting on QuikWallet.com is sent in a Secure Socket Layer (SSL) session and is encrypted to protect you against unintentional disclosure to third parties.
Wallet Features
1. What are the types of wallets that Livquik offers?
Livquik offers 2 variants of wallets. They are:

  • Minimum details KYC wallet
  • Full KYC wallet
2. I have taken a Min details KYC wallet. What are the limits applicable?
Amount loaded during any month shall not exceed Rs 10,000
Total amount loaded during any FY shall not exceed Rs 1,20,000
Amount outstanding shall not exceed Rs 10,000
Total debits in a month shall not exceed Rs 10,000
3. Is Cash withdrawal allowed in Min-KYC wallet?
No
4. Is Funds Transfer allowed in Min-KYC wallet?
No
5. When MIN-KYC wallet is closed, where will Livquik transfer the wallet balance?
Closure proceeds will be sent to Source Bank account from which wallet was loaded.
6. When FULL-KYC wallet is closed, where should we transfer the wallet balance?
Customer will be given option to give his/her Bank account details. Closure proceeds will be
sent to Customers Bank account.
7. For Full-KYC wallets, will Livquik give an option to customer to add “pre-registered beneficiaries” and provide their Bank account details?
Yes. This option is provided to customer.
8. For Full-KYC wallets, are there any Funds transfer limits for “pre-registered beneficiaries”?
Yes. Monthly Funds transfer CANNOT exceed Rs 2 Lakhs per beneficiary.
9. Are there Funds transfer limits for unregistered beneficiaries of Full KYC wallet customer?
Yes. Funds transfer is restricted to Rs 10,000 per month.
10. For Full KYC PPIs, what are the Cash withdrawal limits applicable?
Max Cash withdrawal limit is Rs 2000 per transaction and Monthly limit is Rs 10,000
11. What is the cash loading limit of Full KYC PPI?
Rs 50,000 is the monthly limit for cash loading subject to overall limit of PPI
12. I have taken Min KYC wallet with cash loading facility. However I missed converting the PPI to Full KYC within 24 months. What next?
No further credit shall be allowed for such PPIs. However, you will be allowed to use the
outstanding balance in the PPI A/c.
13. What is the maximum value that a Gift Instrument can hold?
Max value shall not exceed Rs 10,000.
14. Are Gift cards reloadable?
No
15. Are Cash outs allowed on Gift cards?
No
15. Are Funds Transfers allowed on Gift cards?
No
17. For Gift Cards, will Livquik transfer the money back to source if PPI holder consents
Yes