Givex Expands with Chase Gift Card Buy; Tuxedo Money to Enter U.S. with i2c (Jan. 27, 2015)
M&A activity and global expansion of prepaid continue this week with Toronto-based gift card processor Givex announcing plans to acquire Chase Paymentech’s gift card business and open an office in Dallas. Meanwhile, U.K.-based Tuxedo Money Solutions is partnering with Silicon Valley-based processor i2c Inc. for international expansion of its prepaid business, including entering the U.S. market.
Givex, which serves clients in 50 countries from data centers in seven countries, plans to open its new office later this year to support the acquired clients. Gift card retailers immediately will be able to take advantage of Givex’s suite of services, including loyalty, campaign management, fulfillment, analytics, value-added venue tickets, mobile wallet, e-gifting and online ordering, according to an announcement.
In a separate announcement, Tuxedo and i2c said they will work together on global payments programs, initially focused on the Q2 launch of combined ID, loyalty and travel money cards for consumer use. Tuxedo Money is a 2015 Paybefore Award winner in the Best Travel Companion category for its STA ISIC Prepaid MasterCard CashCard, which serves as an international student ID, discount and prepaid travel card for U.K. students. The prepaid pioneer has expanded in Europe and Australia during the last 12 months with programs set to go live in the Middle East in Q2 2015 as well as its planned entrance into the U.S.
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