InComm, a prepaid product and transaction services company, has acquired Hong Kong-based prepaid distribution business of ValuAccess, a provider of stored value programs, loyalty programs and transaction processing to Asian retailers.
Before takeover, InComm and ValuAccess achieved marked success in Hong Kong through a partnership established in 2012 that combined InComm's global reach with ValuAccess's insight to fulfill the requirements of the Hong Kong consumer and retail markets.
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The acquirer said that the collaboration provided local consumers a collection of products including prepaid cards, gift cards and other stored-value programmes.
InComm executive vice president and general manager of international Frank Monaco said: “This acquisition strengthens InComm's international presence and reaffirms our commitment to the Asian market.
“Asia continues to be a key strategic focus for InComm and this will enable us to continue to build on our success throughout the region."
ValuAccess CEO Alistair Gordon said: “We will continue to support InComm by distributing our local stored value gift card products through their retail distribution partners and providing local processing support."
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