Givex Expands iFood Partnership to Launch iFood Card in Colombia

With more than 10 million gift cards sold in two years, Givex and iFood aim to replicate Brazilian success in Colombian market

TORONTO, Feb. 24, 2022 /PRNewswire/ - Givex Information Technology Group Ltd. (Givex), a global leader in omnichannel processing of gift cards, loyalty, and digital merchandise credit with more than seven billion reais already traded on its platform, and iFood, one of the most innovative foodtech companies in the world, are pleased to announce the launch of their highly successful iFood Card program in Colombia.

iFood is a leader in online food delivery in Latin America, driving more than 60 million monthly orders as well as providing business intelligence and management solutions to over 170,000 restaurants in 1,200 cities across Brazil. iFood has sold more than 10 million gift cards to Brazilian customers since migrating its iFood Card to the Givex platform in 2019 and is eager to repeat this success in Colombia.

Givex serves as a central platform, or 'GivexHub,' connecting all major B2C and B2B sales channels in Brazil with integrated business intelligence tracking the real-time performance of the iFood Card program in each channel.

"We are the partner that supports our clients even as they grow and their needs change. We look forward to working with iFood in this exciting new market and building on our mutual success in Brazil," said Givex CEO Don Gray.

The iFood Card has many benefits for the B2B market in Colombia. Businesses can use the card to attract and retain talent, foster team engagement, and increase customer loyalty. Clients appreciate the many uses of the card, such as promoting virtual and physical happy hours, celebrating team achievements, and marking employee milestones.

The iFood card is exclusively redeemed for food in Colombia, and is accepted in 40,000 restaurants, bars and markets that are on the iFood app. "In just one month of operation, the number of companies buying the iFood Card in Colombia tripled," said Paula Rabelo, director of growth for iFood. "By the end of March, we expect to sell 100,000 gift cards in the country. And today, on average, 3,500 small businesses already use the iFood Card," she added.

Through Givex, iFood transformed the iFood Card into an omnichannel product, sold in mobile wallets and other digital marketplaces. By the end of 2021, companies were distributing the iFood Card to more than 60 million users of digital wallets and over 100,000 points of sale.

"We are always looking for partners who contribute to the innovation and pioneering spirit of our operation. Counting on Givex as a technology partner in the evolution of the iFood Card was fundamental for us to reach the results and continue this successful work," emphasized Rabelo.

Givex is leveraging the technology and experience it developed over many years while supporting client locations in more than 100 countries to scale the expansion of the iFood Card program quickly and securely in Colombia. Key features, such as 24/7 Spanish support and currency conversion, are already in place because of Givex's existing global footprint.

"Givex is very proud to be chosen by iFood to support this expansion. They have proven to be a real innovator in the foodtech space, and we are glad to help make their ideas a reality and offer our technology and business intelligence tools to achieve these incredible sales numbers for the iFood Card," said Maria Costa, Managing Director Givex LATAM.

By bringing the iFood Card to Colombia, Givex and iFood look forward to building on past success and many more years of partnership.

About Givex
Givex (TSX: GIVX) is a global technology company designed to simplify business efficiencies through an omnichannel platform with a high level of security and innovation. The company has processed over 20 billion transactions, has client operations in more than 100 countries, and has operated in Brazil for more than 12 years where it traded more than seven billion reais in the Brazilian market alone. Since its founding in 1999, Givex has provided technological intelligence to a wide variety of industries, from restaurants and retail to hospitality and the service sector, offering a range of integrated and customizable products, including gift cards, digital exchange vouchers, loyalty and point-of-sale systems.

About iFood
iFood, the leader in online food delivery in Latin America, has 60 million monthly orders. For nine years in the market, the company of Brazilian origin is also present in Colombia. It works alongside partners with initiatives that bring together business intelligence and management solutions for the approximately 170,000 restaurants registered in more than 1,200 cities throughout Brazil. iFood counts major investors such as Movile - a global leader in mobile marketplaces - and Just Eat - one of the world's largest online ordering companies.

SOURCE Givex