First Data, the payment technology and services solutions company, has acquired Transaction Wiress Inc. (TWI), a cloud-based, digital gift card distribution platform, for an undisclosed amount.
First Data now provides its gift card clients, distributors, partners and resellers a fully integrated, comprehensive physical and digital gift card program.
The acquisition is part of the company’s overarching strategy of bolstering its prepaid gift-card solution.Last year it acquired Gyft, a consumer-facing digital platform that enables consumers to buy, send, reload, manage and redeem digital gift cards using mobile devices.
“Along with our strong gift card processing and Gyft solutions, Transaction Wireless’s outstanding proprietary and comprehensive digital gifting platform will help our clients expand and accelerate their gift card programs,” said Barry McCarthy, Executive Vice President, Network and Security Solutions at First Data.
TWI’s cloud-based, digital gift card distribution platform supports comprehensive open and closed loop prepaid, store-branded gift card program management, offering end-to-end card management and B2B and B2C distribution solutions for retailers, distributors and resellers.
The proprietary technology allows business owners to migrate from traditional plastic or paper gift cards to digital gift cards via multi-format distribution options, including mobile, social, email and digital wallets.
This flexibility for business owners, in turn, increases customer transaction frequency and loyalty opportunities. Combined with Gyft and First Data’s other prepaid solutions including the Money Network payroll card solution, TWI further extends First Data’s leadership in the prepaid ecosystem.
Three years on from being acquired by PayPal, Braintree, a company which allows merchants to process a range of different payments, has revealed the number of its payment transactions has increased by 25 times.
There’s more signs of consolidation in the crowded European payments space with news that Stockholm-based iZettle is buying a company called intelligentpos.
MasterCard has bought Vocalink for £700m ($920m) in a deal that has been rumoured for months.
Oh, what we wouldn't do to know the future! Like Biff and the Almanac in Back to the Future, all we need is a guide. Luckily the team over at Pivotl is on hand to give us one for the future of fintech.