If you are one of those active social media users aiming to monetise digital influence, there is a way. WYLD, a fintech, has launched the world’s first social currency payment card, powered by VISA. Using the WYLD card and posting about their purchase on Instagram, can help users earn cashbacks, ranging from 30 -100 per cent of their transaction value, back into their card wallet. Here is a review of this offering.

Nano influencer community

India has over 200 million Instagram users. According to estimates, 80 million of them have over 1,000 followers. While there are big brand endorsers and celebrity ambassadors, studies show that people are more likely to consume products that are spoken about by their social circle rather than by unknown influencers. Conceived in 2021, WYLD aims to catch this nano and micro social media users.

The app lets anyone with over 1,000 followers on Instagram and a ‘WYLD Score’ of over 100 to apply for the WYLD payment card. The card can be held only by Indians. The WYLD Score is determined through an algorithm which analyzes a user’s social media usage – their followers, reach, frequency of posts and stories, and the engagement on these posts by their followers.

Card back-end arrangement

You can use the WYLD card for all your online and offline purchases just like any other credit/debit card. WYLD is a platform created by QWERTY Marketing Solutions. WYLD is backed by venture funds such as Better Capital, Capital-A, Singularity Holdings and Plan-B Innovations, and angel investors such as Aman Gupta (boAT), Sameet Mehta (boAT), Malini Agarwal (of Miss Malini fame), Varun Alagh (Mamaearth), Dhruv Toshniwal (The Pant Project), Madhusudanan R (M2P Fintech) etc., according to their website.

The card is issued by Livquik Technology (India). WYLD is a marketing and distribution partner of Livquik prepaid card. WYLD has entered into a co-branding agreement with Livquik Technology (India), a non-bank PPI issuer regulated by RBI. Pursuant to their agreement, LivQuik will issue the pre-paid payment instruments (PPIs) which are co-branded and marketed by WYLD and offered to users through the platform.

According to the terms and conditions document, WYLD offers a virtual card linked to your wallet on the platform and gives the option to request for a physical card (associated to your wallet). One can use these to make payments at merchants or to withdraw cash from ATMs; this of course depends on the type of wallet you have been issued. One cannot transfer the physical card. The wallets with no financial transactions for a year will be made inactive.

WYLD does not hold your funds. Livquik maintains your wallets against which all payments and transfers are settled. When you send and receive funds, or make payments to merchants, Livquik debits or credits your account.

The company has partnered with over 200 brands across several verticals like Social, Smoke House Deli, boAT, Lenskart, Purplle etc.


Before you can apply to open a wallet account, you have to create a profile with WYLD through the platform. Note that to create a WYLD Account, you must provide your phone number for one-time password authentication and other details. Users also have permission WYLD to access your SMS, contacts, location data, installed applications, and such other device data that WYLD may require. The platform says it does this to provide you with the services.

WYLD is currently on invitation only. You can apply to get early access to the WYLD card on their website. Interested customers will have to share details of Instagram handle, name and email ID. WYLD and third-party service providers may use your data, including your financial information. The platform claims this is to improve the services.

Costs, fees

According to the terms and conditions document, WYLD has the right to levy charges on any amounts charged to the Wallet or spent/transferred while using your wallet.

You may be charged a fee for availing WYLD services, which will be conveyed through the platform, including any periodic revisions.

Our take

At present, the concept of social currency is prevalent in the form of loyalty cards and other referral marketing schemes. The WYLD card offering is a fresh take on ‘word-of-mouth’ marketing. For brands, nano influencers are a good way to convert interest into actual transactions, thanks to higher and more organic engagement rates.

The card is targeted at active social media users who largely consist of young millennials and Gen Z. This target audience is always on the lookout for deals and pocket-friendly offers.

The WYLD app on Google Playstore has a 4.7 rating based on 15 reviews.

WYLD’s aim appears to become a vertical in marketing for partner brands by enhancing brand visibility, enabling customer acquisition and increasing sales through user generated content.

Existing debit/credit cards usually offer 5 per cent cashback. WYLD card users, over time, will need to monitor cashback rates. We have previously seen trends of cashbacks getting smaller and smaller with increased penetration of products.

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