Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Digital Gift Cards Delivered to Email and Mobile Phones.
Portland, Ore., and London, U.K. – June 20, 2012 – Giftango International today announced an agreement with U.K.-based Park Group plc to manage and deliver all of Park’s flex e-gift digital gift cards and other digital stored value products to more than 6,000 of Park’s corporate customers. Park Group plc is the brand behind flexecash®, a secure payment system driving the adoption of prepaid gift cards across the U.K. By developing its virtual gift card system with Giftango, Park Group plc can now offer consumers the ability to receive “flex e-gift,” the digital version of flexecash through email and SMS on their smartphones.
Giftango securely delivers the flex e-gift card in real-time and customers receive fully personalised digital gift cards, including card number, CSC and expiry date, via email or SMS. Digital gift cards may be viewed and printed from a PC or displayed at the point of sale on the recipient’s smartphone at the time of redemption. The flex e-gift product will be redeemable at a wide range of the U.K.’s leading retailers from late Summer 2012.
“Giftango allows us to offer our corporate customers and partners a fully customised digital gift card experience. One that fits their own brand, with their own logo, just as they would get with traditional plastic or physical gift card services,” said Chris Hartley, Business Development Director at Park Group plc. “The flex e-gift digital gift card allows for an instant gift delivery and redemption. We know that with the adoption of smartphones increasing on a global scale, those consumers would rather receive a digital gift card than wait a week for something physical. Giftango allows us to do this safely and securely.”
The flex e-gift digital gift card will also be available for retailers to private label as a proprietary retailer-branded digital gift card. Since the flexecash system is connected directly to many retailer’s POS systems, those already accepting flexecash and flex e-gift can brand the flex e-gift product with their own brand assets and the digital card will be redeemable just like the flex e-gift product.
Park Group plc has developed one of the U.K.’s most successful private label prepaid card systems. This system is responsible for issuing the Love2shop gift card which is the convenient and secure prepaid card version of the U.K.'s leading multi-retail paper gift voucher, Love2shop - the high street gift voucher. Giftango will power all eGift cards used within the Love2shop network.
“Park Group plc has a well-recognised and thriving brand and value proposition in the U.K. today,” said Marcell King, Giftango VP of Merchant and International Development. “We are looking forward to helping our new partner innovate and expand their offering into new channels. Entry into new channels starts with the addition of flex e-gift to the list of digital gift cards we make available to our loyalty and rewards partners.”
About Park Group plc
Park Group plc is one of the U.K.’s leading multi-retailer voucher and prepaid gift card businesses focused on the corporate gift and consumer markets. Sales are generated through the Internet, their direct sales force and agents.
Park Group plc is committed to being the best operator in their markets through continual improvement in the quality, profitability and value created by their businesses. They recognise that people are the most important assets in their organisation and continually strive to develop all of their people to be capable of delivering outstanding service.
Love2shop is widely recognised as one of the leading multi-retailer voucher and gift card brands in the U.K. The Love2shop gift voucher can be spent at over 20,000 stores including Argos, Boots, Debenhams, plus restaurants, attractions, holidays and travel.
The Love2shop gift card was launched in 2010 following an investment by Park Group plc to create their own IT infrastructure and associated processing capabilities, allowing them to issue their own secure and convenient gift cards. The number of retailers who accept the gift card is growing (nearly 40 direct relationships), with leading brands such as Argos, Boots and Debenhams already accepting the plastic version of the paper voucher.
Giftango Corporation, founded in 2005, has redefined gifting with their innovative delivery of digital eGift Cards to email and mobile phones. Merchants utilize the Giftango platform to power e-commerce sales, a wide variety of promotions and distribution through Channel Partners. Giftango International Limited, a wholly-owned subsidiary of Giftango Corporation, is headquartered in Dublin, Ireland with a regional presence in London, U.K.
Giftango's Channel Partner solutions and Mobile API gives loyalty, incentive and rewards companies the ability to add eGift card fulfillment to their existing user interface for a wide variety of national brands. Giftango is integrated with twenty gift card processors and has patent-pending technology. Giftango delivers digital eGift products across more processors and brands than any competitor in the market. For more information about Giftango, please visit http://www.giftango.com.