First Data Acquires Transaction Wireless

Payment technology and services provider First Data Corporation recently added to its prepaid gift card arsenal with the acquisition of digital gift card firm Transaction Wireless (TWI), a San Diego, CA-based enterprise digital gift card distribution platform. Financial terms of the deal were not disclosed. First Data will now be able to provide its gift card clients, distributors, partners and resellers with a fully integrated, comprehensive physical and digital gift card program. The move complements First Data’s 2014 acquisition of Gyft, a leading consumer-facing digital platform that enables consumers to buy, send, reload, manage and redeem digital gift cards using mobile devices. Combined with Gyft and First Data’s other prepaid solutions, including the Money Network payroll card, TWI further extends First Data’s leadership in the prepaid market. 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. For more details, click here.