A New Union for Prepaid Solutions May 08, 2008 First Data Corp., announces plans to acquire InComm
By Jeanie Casison
First Data Corp., a worldwide provider of electronic commerce and payment processing, announced that it will acquire InComm, a leading marketer, distributor and technology innovator of stored valued gift and prepaid products. InComm had more than $300 million in net revenues and almost $8 billion in retail sales transactions in 2007, and is one of the most prominent U.S. distributors of gift cards, prepaid wireless products, reloadable debit cards, digital music downloads, content, games, software and bill payment solutions.
"The combination of First Data and InComm propels us into having a holistic prepaid product suite that includes banking products, payroll solutions, closed and open loop gift cards and now expanded distribution," says Ed Labry, president of First Data Corp.'s USA division. "We look forward to leveraging InComm’s expertise and robust retail network to offer end-to-end prepaid solutions to our retail customers around the world."
InComm currently provides stored valued product marketing and technology solutions to international markets in the U.S., Europe and Canada. The merger with First Data Corp., puts continued international expansion as well as added distribution to small and mid-size markets on the horizon.
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