Home » Finance and Strategy » Gift Card Firm SVM Expands Verticals with 1to1 Card Buy
Print view|Purchase Reprint
03.08.16

Gift Card Firm SVM Expands Verticals with 1to1 Card Buy

merger_shutterstockGift card provider SVM has bought 1to1 Card, whose prepaid program management services cover incentive, loyalty, rebate, payroll and general purpose loyalty cards. SVM, which before this deal had focused on closed-loop cards such as those used for inventory management, customer service, gasoline and other purposes, did not detail the financial terms of the deal.

1to1 initially will keep its branding and 1to1 CEO and President Mark Tepper will become an SVM senior vice president, Marshall Reavis, founder and CEO of SVM, tells Paybefore. The acquisition will enable SVM to expand its products and services, becoming what the company calls “a single source for both open and closed loop cards with customization capabilities for a wide variety of products.” For instance, it could offer a combined open- and closed-loop gas card product that also has a digital component, Reavis says.

“In acquiring 1to1 Card, we are furthering SVM’s leadership in the incentive, rewards and loyalty markets,” he adds. “We see many benefits for our customers including superior economics and incremental products.”

SVM serves more than 350 accounts, including from such clients as ExxonMobil, Lowes, Amazon, CVS, iTunes, Starbucks, Chevron and Texaco. SVM’s Phillips 66 TANK5 Promotion is a 2016 Pay Awards winner and 1to1 Card won a Judge’s Choice Award in the 2015 Paybefore Awards for its virtual health care payments solution. Both SVM and 1to1 are based in Illinois.

Related stories:

Image Credits: Shutterstock/Ferbies

Comment

Your email address will not be published. Required fields are marked *

By clicking below, I acknowledge that my contact information will be shared with the companies whose files I am accessing on Pay Connect so they can contact me directly about their products or services. Please refer to their privacy policies for details on how your information will be used. Paybefore uses cookies to store this data so you will not need to re-enter it.

To sign up for Paybefore e-newsletters and announcements, click here.  http://paybefore.com/enewsletter-subscriptions/

  • This field is for validation purposes and should be left unchanged.
X