First Data, a provider of payment technology and services solutions, has acquired Transaction Wireless (TWI), a US-based enterprise digital gift card distribution platform.
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The acquisition will allow First Data to offer its gift card clients, distributors, partners and resellers a fully integrated, comprehensive physical and digital gift card program.
TWI’s cloud-based card distribution platform facilitates comprehensive open and closed loop prepaid, store-branded gift card program management.
This enables end-to-end card management and B2B and B2C distribution solutions for retailers, distributors as well as resellers.
The technology also helps business owners to migrate from traditional plastic or paper gift cards to digital gift cards through multi-format distribution options such as mobile, social, email and digital wallets, thereby improving customer transaction frequency and loyalty.
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By GlobalDataFirst Data network and security solutions executive vice president Barry McCarthy said: "First Data now offers one of the industry’s most integrated, complete and comprehensive prepaid gift card solution at scale.
"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."
Terms of the transaction were not revealed.
