Inside InComm Payments’ acquisition of The Card Network

October 30, 2022 07:00 AM AEDT | By Sonal Goyal
 Inside InComm Payments’ acquisition of The Card Network
Image source: © Rochakred | Megapixl.com

Highlights:

  • InComm Payments has acquired Australian gift card provider The Card Network for an undisclosed price.
  • The transaction is expected to increase the ability of InComm Payments to make personalised gift card products.

A payment technology provider InComm Payments on 26 October 2022 shared that it has acquired Australia's go-to gift card provider The Card Network (TCN). InComm Payments said the addition of TCN to its global distribution network would enhance its offerings across the Australian consumer and businesses.

This transaction is expected to increase InComm Payments' ability to customise gift card products that customers seek, and it would support business growth for its retail and brand partners, said InComm Payments in a statement.

Notably, the acquisition price is not disclosed by InComm Payments in its official release.

About The Card Network

Founded in 2019 by Nick Sims and Richard Hewitt, an Australian-based company, TCN aggregates brands such as ASOS, JD Sports, Adore Beauty, Nike, JB Hi-Fi and so on onto the one gift card.

TCN offers a range of gift cards such as the Active Card, Baby Card, Kids Card, Her Card, Him Card, Love Card and so on. The offering of these cards revolves around some creative theme. For instance, the Home Card can be used by the recipient at a range of homeware stores.

About InComm Payments

InComm Payments offers financial technology solutions and end-to-end payment platforms to businesses across a range of industries, such as financial services, digital currencies, mobile payments, incentives, tolling & transit, healthcare and retail. The company is headquartered in Atlanta.


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