First Data (FDC) has acquired Silicon Valley-based Gyft, a pioneer of a mobile wallet for gift cards. FDC cites recent reports virtual and mobile cards are gaining share rapidly in the near $100 billion U.S. gift card market.
With more than 200 of the most recognized retailers on its digital gift card platform, Gyft is a mobile wallet accessible by website and as a free app on iPhone and Android devices. The company brings an active and loyal user base of demographic groups such as millennials, who increasingly expect a highly personalized customer experience. Gyft is seamlessly integrated with Facebook so users can send gift cards to their friends around special events.
First Data’s clients, including its more than 300 national retail prepaid clients, will now have access to a new and growing distribution channel to adopt the next level of gifting, expand their gift card footprint and programs and add choice for consumers. In addition, to bring these new tools to small business owners who have adopted First Data’s Clover Station, an elegant touchscreen point-of-sale solution, Gyft for SMBs will be added to the Clover App Marketplace.
RESOURCES:
For more data on Gyft access CardData®. For information and commentary on Gyft visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. Custom RAM Research® projects on Gyft are available exclusively through CardWeb.com.®
