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Givex set to acquire Chase Paymentech gift card business

Global provider of cloud-based data processing services announced today that it has agreed to acquire Chase Paymentech's gift card business.

January 26, 2015

Givex, a global provider of cloud-based data processing services, announced today that it has agreed to acquire Chase Paymentech's gift card business. Givex, which is headquartered in Toronto and has been providing gift card processing services since 1999, has data centers in seven countries and clients located in 50 countries.

"Givex is honored to have Chase Paymentech select us as the purchaser of their gift card client base," CEO Don Gray said in the announcement. "It was clear from the beginning of the negotiations that Paymentech was focused on finding a buyer that would not only look after their clients, but also have the ability to enhance the services being offered in a secure and innovative manner."

Givex said it will open an office in Dallas later this year to support Paymentech's gift card client base. Chase Paymentech gift card clients will be transitioned to Givex servers, and transactions will continue to be processed using existing integrations and protocols. The company said there will be no disruption to existing merchants or their customers as all current reporting and customer support will be matched to current functionality.

Chase Paymentech gift card merchants will immediately be able to take advantage of Givex's enhanced reporting capabilities as part of the transition. Givex enhanced features will include loyalty, campaign management, fulfillment services, analytics, Uptix (value-added venue tickets), mobile wallet, e-gifting and online ordering. Chase Paymentech merchants also will have preferred-client access to the Vexilor cloud-based POS system built specifically to take advantage of Givex advanced customer relations programs.

"We regularly evaluate the products and services we offer our customers and made the business decision to divest our gift card business," said Jasper Malcolmson, head of solutions and innovation for Chase Merchant Services. "We are confident that Givex will continue to provide our merchants with exceptional service when supporting their gift card needs."