Swych acquires Gift Cards India (GCI Network)
GCI’s strong merchant network and successful track record will allow Swych’s Global Gifting network to expand faster into the South Asian gifting and loyalty market
PLANO, TEXAS — May 7, 2018: Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, and the world’s first global gifting network, today announced the acquisition of Mumbai-based Gift Cards India (GCI Network Pvt. Ltd). Founded in 2011 by Firoz Khan and Cory York, GCI has successfully operated a robust aggregation and distribution network for gift cards and has been serving millions of consumers, enterprises, loyalty platforms and wallet operators in the Indian market. GCI has become well known in the market for providing consumers and businesses with a reliable, efficient and high-quality source of the widest selection of gift products from over 250 of the top brands in India.
With this acquisition, Swych is extending its leadership position as the only connected digital global network making gifting truly borderless between consumers who might be thousands of miles apart. The unique power of the Swych digital gifting technology combined with GCI’s South Asia expertise and established partnerships will also bring borderless digital gifting to businesses, digital wallets, loyalty platforms, financial institutions and others wherein the recipient of a gift can “Swych” it to spend it at their favorite brand across a global catalog.
“Digital gifting is an increasingly powerful engagement tool for retailers to attract consumers via offers, for consumers to gift their loved one on a special moment, for businesses to reward employees, and as a redemption method for loyalty points and miles. GCI’s track record for all these use cases and innovation in the Indian market has been impressive,” said Deepak Jain, Swych founder and CEO. “By integrating GCI’s presence and expertise with the powerful Swych platform, we aim to greatly accelerate our mission of becoming a truly global digital gifting powerhouse.”
According to Firoz Khan, GCI Network’s founder and CEO, “The synergy between GCI Network and Swych further supports the mission of bringing borderless gifting services to consumers across multiple markets. We now provide even greater options, brands and flexibility of delivery to our customer base.”
Swych continues to add innovative services and features to delight customers and remains committed to continued innovative offerings via an ever expanding global coverage and technology advancements in fraud management, artificial intelligence, bots and data analytics that make the Swych network the most powerful global gifting and shopping network on the planet. This network now features retailers in the United States, India, United Kingdom and Australia, with planned expansion to include popular retailers in Europe, Middle East, Canada, Japan, Colombia and Philippines.
Swych is showcasing its instant digital cross border gifting service between US and India this week at the Finovate Spring 2018 conference in Santa Clara, California.
Swych’s patent pending mobile gifting platform enables users to send “swychable” gifts from their mobile device that can be instantly redeemed for electronic gift cards from more than 120 popular brands. Swych users can instantly buy, send, re-gift, upload, Swych and redeem gift cards conveniently from their mobile device. Swych is a private company funded by seasoned angel investors from the banking, financial services, payments, gifting, telecom and enterprise computing space. Swych is headquartered in Plano, Texas, with offices in San Francisco, California, as well as Swych Canada, Inc., in Toronto and Swych International Pvt. Ltd. in Vadodara, India. For more information please visit www.goswych.com. To download the award winning Swych app, visit www.goswych.com/download.
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