Incentives company SVM, of Chicago, announced that is has acquired 1to1 Card, of Woodridge, Ill., for an undisclosed price. The purchase of 1to1 builds on SVM’s current incentives business.
The acquisition has significant implications because SVM now becomes a single source for both open and closed loop cards with customization capabilities for a wide variety of products. Globally recognized as a leading incentive, rewards, and loyalty company, SVM’s acquisition of 1to1 Card will enhance the Company’s extensive incentive business and bring a host of new products, services and expertise to its vast business-to-business customer network.
The deal gives SVM a full suite of prepaid products to use as incentives. The ability to offer choice in incentives programs can be helpful for winning customers, since some will want to use different kinds of rewards for different incentives programs – for example sales incentives might be better supported by open-loop cards while wellness programs might be better served with closed-loop cards for running shoes or flu shots.
Overview by Ben Jackson, Director, Prepaid Advisory Service at Mercator Advisory Group
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