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Plastic Jungle and InComm Announce Strategic Partnership to Expand Gift Card Opportunities for Gift Card ProvidersIntegration of the Web's Largest Gift Card Exchange and a Leader in Prepaid Products Underscores Strength of the Secondary Gift Card Market (February 09, 2012)
SAN MATEO, CA -- (Marketwire) -- 02/09/12 -- Plastic Jungle, the web's largest secured gift card exchange, and InComm, an industry leading marketer, distributor and technology innovator of stored-value gift and prepaid products, today announced an integrated partnership to drive more consumer and merchant value from gift cards.
Plastic Jungle and InComm plan to integrate their respective processing platforms, which will allow gift card issuers the ability to access Plastic Jungle's rapidly growing consumer base through the web as well as through other electronic and mobile channels the parties are developing. The partnership will also extend Plastic Jungle's patent-pending platform capability to InComm's vast gift card partner base, including gaming, restaurants and traditional merchants. It will allow gift card merchants the ability to ensure their gift cards are used in full, and will also allow them to accept a broad range of prepaid and digital currencies.
"We pioneered our industry in partnership with the merchant community and are delighted to team up with a like-minded pioneer in the distribution business like InComm," said Bruce Bower, CEO of Plastic Jungle. "We believe this partnership signals the potential of the secondary gift card market and will propel the industry forward. We are looking forward to the positive impact this integration will have on both consumers' and merchants' experiences."
"InComm recognizes that the secondary market in gift cards is growing quickly and represents a new way for merchants to increase the profitability of their gift card programs," said Brooks Smith, President and CEO of InComm. "Our relationship with Plastic Jungle will help merchants get gift cards into the hands of the people who value them most -- thereby driving real traffic and loyal customers to our partners' businesses. We're excited to partner with the innovative team at Plastic Jungle and combine our strengths to take the gift card industry to the next level."
About Plastic Jungle
Plastic Jungle (www.plasticjungle.com) is the web's largest secured gift card exchange, giving consumers the choice and flexibility to convert their gift cards into other forms of spending power -- including online balances to use at the millions of merchants that accept PayPal; Amazon.com Gift Cards; and a variety of other payment formats. Plastic Jungle's patent-pending marketplace and payment applications aim to safely unlock an estimated $41 billion in unredeemed gift cards trapped in the economy for the benefit of consumers and merchants alike. Based in San Mateo, California, the company is privately held, with venture backing from Shasta Ventures, Redpoint Ventures, Jafco Ventures, First Round Capital, Bay Partners, Harrison Metal and Western Technology Investment.
InComm is an industry leading marketer, distributor and technology innovator of stored-value gift and prepaid products using its state-of-the-art point-of-sale transaction technology and payment solutions to revolutionize retail product sales and customer experiences. With more than $13 billion in retail sales transactions processed in 2010, InComm is the nation's largest provider of gift cards, prepaid wireless products, reloadable debit cards, digital music downloads, content, games, software and bill payment solutions. InComm partners with consumer brand leaders around the world to provide more than 225,000 retail locations the products and services their customers demand. Since 1992, InComm's patented technologies have made the buying process easier for consumers, while streamlining the selling process for product and retail partners. InComm is headquartered in Atlanta, Georgia with offices in Australia/New Zealand, Brazil, Canada, Japan, Mexico, Puerto Rico, the United Kingdom, Arkansas, California, Colorado, Florida, Georgia, Illinois, Minnesota, Oregon, Tennessee, Utah and Wisconsin. To learn more about InComm, visit www.incomm.com or call (800) 352-3084.
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