ATLANTA, July 31, 2016 /PRNewswire/ -- InComm, a leading prepaid product and transaction services company, today announced it has acquired the Hong Kong prepaid distribution business of ValuAccess, a leading provider of stored value programs, loyalty programs and transaction processing to Asian retailers.
Prior to the acquisition, InComm and ValuAccess achieved marked success in the Hong Kong market through a partnership formed in 2012 that combined InComm's global reach with ValuAccess's proven insight into the needs of the Hong Kong consumer and retail markets. The partnership offered local consumers a suite of products including prepaid cards, gift cards and other stored-value programs while increasing sales and foot traffic at participating retailers. This ongoing success and the significant growth in the business ultimately led to this transaction.
"This acquisition strengthens InComm's international presence and reaffirms our commitment to the Asian market," said Frank Monaco, Executive Vice President and General Manager, International at InComm. "Asia continues to be a key strategic focus for InComm and this will enable us to continue to build on our success throughout the region."
"InComm has been a great partner to ValuAccess over the years," said Alistair Gordon, CEO of ValuAccess Limited. "We will continue to support InComm by distributing our local stored value gift card products through their retail distribution partners and providing local processing support."
ValuAccess was founded in 2006 and is headquartered in Hong Kong. The company provides creative branded stored value, gift card and loyalty programs for the fast-growing Asia Pacific market. For more information, visit http://www.valuaccess.com.
Leveraging deep integrations into retailers' point-of-sale systems, InComm provides connectivity to a variety of service providers that allow consumers to conduct everyday business at more than 500,000 points of retail distribution. Whether those consumers are activating prepaid products, paying bills, enjoying real-time discounts through a membership card, purchasing digital goods in-store or adding funds to an online account, InComm is there to provide unique gift-gifting opportunities, cater to on-the-go shoppers, deliver added value through loyalty programs and serve cash-based consumers. With 206 global patents, InComm is headquartered in Atlanta with a presence in 31 countries. Learn more at www.incomm.com or connect with us on www.twitter.com/incomm, www.facebook.com/incomm, www.linkedin.com/company/incomm or www.incomm.com/blog.