Swych Unveils Blockchain-Powered Global Gifting and Shopping Platform

Pioneer in global cross-border digital gifting, Swych introduces blockchain technology to its platform to provide unparalleled security, high performance, and instant settlements

Dallas, TEXAS, December 13, 2018 — Swych, a digital gifting platform that currently processes more than a million gifting transactions a year for both consumers and businesses, today announced its advancement to a blockchain-based platform that it believes will significantly reduce the fees and other friction points associated with cross-border gifting. With a network of over 600+ partner brands worldwide, representing billions of products, this transition marks a significant advancement toward Swych’s mission of creating the global standard for digital gifting.

The Swych gifting network enables frictionless cross-border person-to-person or business-to-consumer gifting and empowers instant digital gifting transactions with zero fees, agnostic of underlying fiat currency or geography. Any gift sent through the Swych platform can be “swyched,” redeemed, and spent at any retailer on the Swych network, ensuring satisfaction of both the sender and the recipient, eliminating the guesswork out of gifting, and erasing the challenge of geographical borders between customers.

CEO and Founder of Swych, Deepak Jain, said “While the world has become increasingly interconnected since the arrival of the internet, the process of sending a gift — and in particular across countries — has remained stagnant with few and unimaginative choices, shipping hurdles and overall customer dissatisfaction. Our blockchain-powered platform will bring long overdue innovation to the $400B gifting market, now expected to grow to $700B by 2024, by making each gift a perfect one for recipients while eliminating loss of value through any fees or foreign exchange conversions.”

There has been an estimated $149 million in gift card sales in 2017 – an increase of 54% from 2007. Plastic gift cards have become synonymous with inflexibility, fraud, and obsolete technology. Additionally, traditional gift card networks and distribution schemes are difficult to scale across borders, and plastic gift cards are often forgotten in drawers. Building on its proven success with digital distribution, fraud management and strong data insights in consumers’ gifting behaviors, Swych’s blockchain integration enables new horizons for cross-border gifting, as well as several exciting new use cases such as loyalty redemption, employee incentives, frictionless travel shopping, and easy access to merchant offers.

Building on the Stellar Network, the platform’s blockchain elements operate seamlessly in the background. Swych users can easily send, redeem, and swych digital gift cards without any prior knowledge of blockchain technology, and without compromising on transaction speeds, security, and flexibility of the popular Swych gifting service.

Director of Partnerships of the Stellar Development Foundation, Lisa Nestor, said “By using the Stellar Network, Swych enables instant and secure purchases redeemable with any of their retail partners across the globe. Swych is leading the way forward in the gifting industry by integrating blockchain technology and we’re excited to see how the industry will continue to evolve.”

Jain said, “Working with Stellar and bringing the inherent advantages of the distributed ledger technology to the forefront, we intend to provide an example to the entire community of how blockchain can be used to solve a real-world problem that pretty much any consumer can identify with. Sending a digital gift to another consumer that can be instantly redeemed and spent for merchandise, travel, dining, entertainment or other popular categories without jumping through the hassles of bank accounts, plastic

cards, cash withdrawals or foreign exchange fees is the perfect example of how to use technology to simplify consumers’ lives.”

This news comes on the heels of Swych’s recent partnership with WeChat, Travelex, and Finablr, and acquisition of GiftCardsIndia, which allows Swych users in the U.S. to send personal digital gift cards to loved ones in India. The Swych app is available for download on iOS and Android. For more information, please visit http://www.goswych.com.

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About Swych

Swych is a mobile gifting platform enabling users to send “swychable” gifts from their mobile device that can be instantly redeemed for electronic gift cards from more than 600+ popular brands. Swych users can instantly buy, send, re-gift, upload, “swych” and redeem gift cards conveniently from their mobile device. Swych is part of the Finablr network of brands.

With category renowned brands, Finablr’s network of companies provides a broad array of innovative and trusted financial solutions for consumers, corporates, and enterprises, through its deep regulatory

know-how, relentless focus on technological innovation and a global network of retail stores, digital channels, payments platforms and industry partnerships.

The Swych app is available for download on iOS and Android. For more information, please visit http://www.goswych.com. For Gift Cards India, please visit http://giftcardsindia.com and http://www.giftcardsindia.in.

Finablr acquires majority stake in digital gifting platform Swych

Abu Dhabi, UAE and Plano, TX; November 12, 2018: Finablr, a global platform for Payments and Foreign Exchange solutions, has increased its stake in Swych, a digital gifting platform, with a follow-on Series B investment to become a majority shareholder. With further exposure to the fast-growing digital gifting industry, Finablr will leverage its network’s leadership and global presence to bring Swych’s gifting network to a broader international audience.

Commenting on the transaction, Promoth Manghat, Executive Director and CEO of Finablr, said: “At Finablr, we facilitate access for consumers and businesses to the digital economy. To deliver on that promise, we are constantly looking to innovate and partner with companies providing exceptional products and services. Swych has a distinctive business proposition that complements the services offered by the Finablr network brands. We have collaborated closely with Swych’s high-calibre team on exciting projects over the last year. We will seek to continue building on this successful partnership through our majority stake in the company.”

Deepak Jain, CEO and Founder of Swych, added: “The presence of Finablr network companies in key international markets with millions of consumers has the potential to greatly accelerate Swych’s mission. Finablr network brands’ entrepreneurial culture combined with its focus on innovation and strong team is highly synergistic with our own core values at Swych. This investment is a testament to the robustness of our business model and will be invaluable as we look to take digital gifting to global audiences.”

Going forward, Finablr and Swych will share their experience and expertise to create enhanced gifting and payments experiences for consumers and businesses globally. This will be managed through Swych Blockchain Labs, a subsidiary of Swych and a dedicated centre of excellence located in Plano, Texas, established to develop and incubate pioneering FinTech products across blockchain, payments, digital wallets and cross-border e-commerce.

In October 2018, Swych partnered with Travelex, a Finablr network company, and WeChat to launch Travelex Pay, a unique new service for travellers from mainland China visiting the United States. Aimed at simplifying cashless spending, Travelex Pay enables WeChat Pay’s 800 million users to utilise digital gift cards offered by Swych for spending at more than 200 US retailers.

The Finablr network of companies includes category renowned brands, such as UAE Exchange, Travelex, Xpress Money, Unimoni, Remit2India and Ditto, and handles more than 150 million transactions per year. The network reaches over 160 countries, touching a billion lives through its digital channels, retail stores and agent locations.

Founded in late 2015, Swych operates a global gifting network from its headquarters in Plano, Texas. The company also has international offices in Canada and India, from where it oversees Gift Cards India, a gift card aggregator in India. Swych’s digital gifting network comprises of retailers in the USA, India, Philippines, Canada, the UK, Australia and the UAE, with future projects coming up in Japan and Latin America.

 

Sodexo BRS India Partners with Digital Gifting Platform Swych Gift Cards India to extend its Trusted Employee Motivation solutions to the working population of India

Pre-eminent gifting solution, accepted at more than two million retail outlets, now available to a larger base of corporates; targeting the $65 million Indian B2B gifting industry

MUMBAI, November 2, 2018Sodexo BRS India, the leader in digital employee benefit solutions, has partnered with digital gift card platform, Swych Gift Cards India, to extend its gifting offerings to their B2B clients. Sodexo Premium Pass has been the gifting solution of choice for companies across India to reward employees with a tax-saving gift card, accepted at more than two million retail outlets nationwide & 90,000+ online portals.

Trusted by over 11,000 corporate clients in India, across 1,500+ cities and servicing more than 3 million daily consumers, Sodexo offers both public and private sector employers with state-of-the-art solutions to reward and motivate their employees. Employees of large companies as well as SMEs can use their gift card in retail stores as well as via a next-generation mobile app. The company also offers a virtual gift card that can be sent by companies instantly to their employees.

Stephane Michelin, CEO, Sodexo BRS India said, “Sodexo BRS is constantly developing solutions to suit the needs of the millennial workforce. This festive season, owing to the growing demand in regional (Tier 2 and Tier 3) cities, we have introduced India's first-ever limited-edition festive gift cards, a new addition to Sodexo’s employee gifting basket. We appreciate the collaborative approach of Swych Gift Cards India to enable Sodexo reach out to a wider corporate base during festivals and to efficiently manage instant delivery of Premium Pass to locations far and wide.”

Firoz Khan, CEO of GiftCardsIndia said, “Sodexo BRS is the market leader in employee benefit solutions. Their list of partnered retailers and outlets is extremely extensive and we’re proud to now be able to offer up that level of freedom and variety to thousands of corporates across India.  As the digital gifting industry grows, it’s important to us that GiftCardsIndia users maintain the maximum amount of choice possible and partnering with Sodexo achieves just that.”

For more information, please visit http://goswych.com. To purchase a Sodexo gift card, please log on to https://www.giftcardsindia.in.

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About Sodexo Benefits and Rewards Services, India:

The Sodexo group works towards improving the quality of daily life for employees, partners and customers across the world. Sodexo BRS, India's No.1 Employee Motivation & Benefits Services provider is a partner to over 11,000+ HR Leaders. Our fully-compliant Multi-Benefit Digital Solutions are customized to meet specific needs of organizations and help them develop their best motivated workforce.

Sodexo BRS offers a range of 100% Digital Employee Benefit Solutions. The meal benefit offerings include Meal Cards, & Cafeteria Cards. The company’s fully-digital Gifting & Recognition offerings include the Premium Pass range of solutions that include the Premium Pass Celebrations for festive gifting & Premium Pass Rewards for ongoing Reward & Recognition programs. The company also has a revolutionary virtual B2B gifting solution, Sodexo Premium Pass – Virtual Card. Sodexo reaches out to over 3 million daily consumers in India across 1,500+ cities nationally including tier 3 & tier 4 cities making it India’s largest Digital Meal Benefit Network with over 100,000 unique points of acceptance.

For more information regarding our services, please call our toll-free numbers: 1800 267 3030 or visit our website www.sodexobenefitsindia.com

For media related queries, please write to sharon.batliwalla@sodexo.com: or call 0224321 4321

About Swych: 

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 600+ 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 banking, financial services, payments, gifting, telecom and enterprise computing space.

The Swych app is available for download on iOS and Android. For more information, please visit http://goswych.com. For Gift Cards India, please visit http://giftcardsindia.com and http://www.giftcardsindia.in.

About GiftCardsIndia:

GiftCardsIndia, recently acquired by Swych, provides consumers and businesses with a reliable, efficient and high-quality source of the widest selection of gift products from the top brands in India. 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.

Leading Digital Gifting Platform Swych Partners with Leading Cross-Border Financial Services Firm Travelex to Introduce ‘Travelex Pay’, a WeChat Pay Powered Service

Strategic partnership between Travelex and Swych brings cashless shopping at hundreds of U.S. retailers to WeChat’s one billion monthly users, targeting over 800 million WeChat Pay users

Dallas, TEXAS, October 16, 2018 — Travelex Pay, a unique new service within leading global mobile messaging app WeChat, launched today in the U.S. market. Travelex Pay is powered by the global digital gifting platform Swych and distributed by the leading cross-border financial services firm Travelex. Aimed at simplifying cashless spending, Travelex Pay is available now to travellers from mainland China who are visiting the United States. The program enables WeChat users to utilize digital gift cards offered by Swych to easily spend at U.S. retailers directly within the WeChat app and use funding methods available inside users’ WeChat Pay account.

Powered by Swych, which has more than 700 major retail partners globally, Travelex Pay seamlessly, securely, and instantly debits a traveller’s WeChat Pay account while simultaneously providing a digital gift card of the equivalent desired amount to be used as a payment method at checkout. This is equally advantageous for retailers who benefit from accepting a new payment method at checkout that extends coverage to more than 3 million Chinese travelers that come to the U.S. annually. In 2016, tourists from mainland China are reported to have spent $30 billion in the U.S. which is expected to double to $60 billion by 2020. Travelex Pay will simplify shopping for Chinese travellers by offering a convenient shopping experience that is instant, digital and within their favourite mobile app that they regularly open multiple times a day.

Travelex Pay provides a smart digital checkout experience within the Wechat app. For completing the purchase of goods at a participating Swych retailer in the USA, an electronic gift card is generated through WeChat Pay app by the user, and the user’s WeChat Pay wallet account is instantly debited in their home currency. The cashier then scans the barcode or enters the number at checkout and the retailer gets paid instantly in USD. Gift cards can be created by the user either while at the checkout or at any point before purchase.

Swych’s retailer network covers all popular shopping categories including the luxury segment, department stores, big box, dining, fashion, entertainment, sports, electronics and travel. Swych’s advanced payment processing, fraud management and strong anti-money laundering controls further makes the solution a perfect fit for solving this large pain point for Chinese shoppers in the US.

CEO and Founder of Swych, Deepak Jain, said “Chinese tourism in the U.S. is increasing - both in number of people and the amount of money spent. With more than 90 percent of Chinese tourists expressing interest in using mobile payments overseas if given the choice, Swych, Travelex, with WeChat Pay, have combined service offerings to fill the demand for a frictionless and zero-fee payment option. This is yet another innovation aimed at furthering cross border commerce and making Swych the most advanced digital gifting platform in the market.”

“Swych and Travelex Pay are making cross-border shopping more seamless for Chinese WeChat customers who visit the US and use Travelex Pay. We are excited about this partnership and to provide Chinese consumers a cutting edge, digital payments experience.” said James Hewitt, Travelex CEO for North America.

With over 800 million WeChat Pay active users and over 1 billion overall active users, WeChat Pay’s performance capabilities range from communication, to finance, to retail, to social, making this a seamless solution to an integrated app that is already part of the consumer’s everyday lives.

Travelex Pay eliminates many of the common headaches involved with overseas travel by allowing for direct currency conversion and zero added fees right in the palm of the consumer’s hand. The program is available now through WeChat, which can be downloaded on iOS and Android.

About Swych:

Swych is a global digital gifting platform for consumers and enterprises. 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 700+ 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 banking, financial services, payments, gifting, telecom and enterprise computing space.

About Travelex:

Headquartered in London, Travelex has a rich heritage in foreign currency, pioneering the travellers’ cheques of the past and the digital payments of the future. With a presence in over 27 countries, and over 1,200 stores at both on-airport and off-airport locations around the world, Travelex has distilled its expertise and experience into a platform that reinvents physical and digital cross-border money movement globally to ensure its clients remain one step ahead of the competition. The platform provides financial institutions with a trusted, efficient and accurate international money payments service, plus secure and reliable banknote delivery of both major and exotic currencies.

A category leading independent foreign exchange specialist, the business covers the entire value chain of the retail foreign exchange industry. Travelex Group is also active in the remittances and payments space enabling physical and digital cross-border money movement for consumers and financial institutions.

Travelex is part of the Finablr network of companies. These category-leading financial services brands meet the needs of consumers through deep regulatory know-how, relentless focus on technological innovation and a global network of retail stores, business partners and digital channels.

About WeChat:

Launched in 2011, Weixin/WeChat has been enhancing the lives of hundreds of millions users with its innovative features. The most widely used Chinese social media platform integrates instant messaging and social entertainment, bringing about a mobile digital lifestyle on an easy to use app. Users get to engage in real-time communications via free text and multimedia messages, make voice/video calls or share photos on their “Moments.” Other lifestyle recreational features include “Games,” “Sticker Gallery,” and other functions. Continuously evolving around users' needs, Weixin/WeChat also offers enterprises “Official Accounts” to create original consumer experiences through its open platform and extended services such as Weixin/WeChat Pay for a truly mobile digital lifestyle. Weixin/WeChat reached more than 1.06 billion monthly active user accounts as of June 2018. Weixin/WeChat has evolved into a connector and open platform across industries, connecting users with one another, with smart devices and with business services.

Swych Expands International Footprint into $698B Global Gifting Market, U.S. Users Can Now Send Instant Digital Gift Cards to Friends and Family in India

Following its recent acquisition of GiftCardsIndia.com, Swych launches platform in the U.S., allowing users to send and “swych” locally relevant gifts from hundreds of Indian brands including Big Bazaar, Flipkart, Myntra, and more

Dallas, TEXAS, August 2, 2018 — Following its recent acquisition of GiftCardsIndia, digital gifting platform Swych has launched the trusted and widely used gift card service in the United States for instant cross border gifting to India. Swych users in the U.S. are now able to send personal digital gift cards instantly to friends and family across India and choose from hundreds of well-known and popular, locally relevant retailers such as Big Bazaar, Flipkart, Myntra, and more. This expansion significantly increases Swych’s mobile gifting capabilities on an international scale and marks the first step in the company’s global plan to facilitate mobile gifting for users across borders worldwide.

CEO and Founder of Swych, Deepak Jain, said “By launching GiftCardsIndia.com in the U.S., we are addressing a large market demand from the Indian diaspora here. Now anyone can easily send their favorite gift card from their mobile phone to their loved one’s mobile phone in India. The process takes less than 30 seconds, the gift is delivered instantly and is guaranteed to be perfect because the recipient can ‘swych’ it for another retailer they prefer, making sure they can always get exactly what they want, when they want it.”

The global gifting market is estimated to be worth USD $698 billion with India expected to be one of the largest markets by 2024. Swych endeavors to tackle the existing issues within this growing market, allowing users not only the convenience of digital gift cards, but also the freedom to “swych” or select an alternate gift card from an extensive list of brand options. The current cross-border gifting options for consumers are limited, including direct money transfer, plastic gift cards from limited brands, or sending perishables or flowers from local gifting firms that may or may not arrive on time. With Swych, gifting is instant. With a growing list of nearly 500 retailers — from Big Bazaar to Zappos — today’s launch of Swych GiftCardsIndia adds even more retailers to the Swych network. Swych gifts can also be split into multiple gifts, or re-gifted to another recipient. Transactions are highly secure and free of fees; users only need a valid mobile number in order to send gifts, making the process of gifting seamless and accessible.

Jain added, “Existing cross-border gifting options are either costly or inefficient. When sending cross-border gifts, consumers and businesses need to manage liability, foreign exchange and customs, as well as regulatory and compliance issues which are complex and time consuming. We’re proud to offer our users a convenient, secure, and fee-free alternative to this emerging ecosystem, all while simultaneously working to facilitate ease of accordance with changing regulatory and compliance requirements.”

Swych has pioneered the creation of globally “swychable” digital gifts that integrate seamlessly within mobile banking, messaging, conversational commerce, rebate, check disbursement, and loyalty platforms to drive customer acquisition and increase engagement. Swych is focused on fostering global connections between retailers, customers, and businesses in order to create an autonomous global gifting network.

Swych also offers a gifting app within the U.S. domestic market which is available for download on iOS and Android. GiftCardsIndia also offers a gifting service within the Indian domestic market which is available at http://www.giftcardsindia.in. For more information, please visit http://goswych.com.

About Swych:

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 600+ 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 banking, financial services, payments, gifting, telecom and enterprise computing space.

About GiftCardsIndia:

GiftCardsIndia, recently acquired by Swych, provides consumers and businesses with a reliable, efficient and high-quality source of the widest selection of gift products from the top brands in India. 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.

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.

 

About Swych

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.

Follow us on Twitter @GoSwych, like us on Facebook at fb.com/goswych and follow us on Instagram at instagram.com/goswych.

Swych announces record growth and sales in 2017

Outlook for 2018 includes accelerated growth, more technological innovation, enhanced user experience and global access

PLANO, TEXAS — January 18, 2018: Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, and the world’s first global gifting network, today announced it achieved record growth in 2017 with better than expected results.

After its launch in September 2016, Swych service was adopted by tens of thousands of consumers in just a matter of weeks. Compared to 2016, the Swych user base grew nearly 300 percent and transaction volume increased by 1500 percent in 2017. The average size of a transaction increased by 250 percent while revenue increased by more than 1000 percent.

Following its recognition as a Finovate Best of Show winner in 2016, Swych began 2017 by also winning the prestigious PYMNTS.com Innovation Award early in the year. In the second quarter, Swych was selected and implemented very successful merchant funded campaigns with national brands that proved the Swych platform and service is attractive to both retailers and consumers alike. Swych also announced a global partnership and investment from a leading global money transfer brand in the third quarter that has validated its mission of bringing cross border gifting services to consumers across multiple markets. Swych ended the year with a bumper holiday gifting season where transaction volume in the fourth quarter was 1000 percent more than the same period in 2016.

Throughout 2017, Swych added innovative services and features to delight customers. This included adding many new attractive brands to the mobile app, along with specially branded universal gift options that celebrate life's special events such as weddings, babies and birthdays. Swych launched category gifts for the world traveler, the foodie, the movie and entertainment buff, and the fashionista where the recipient can choose from select brands that consumers love within the category. Swych also finalized an agreement with a major Latin American mobile payments partner to bring its services to Colombia in partnership with a leading financial institution.

“We would like to thank all of our consumers, investors, partners and vendors who have contributed to our thriving success in 2017,” said Deepak Jain, founder and CEO. “We are committed to a vision of innovation and transformation in the gifting space and are confident we will bring many more industry firsts to the market in 2018.”

2018 will see similar growth with another 1000 percent growth in transaction volume and 250 to 300 percent growth in subscriber base. Swych is also committed to continued innovation on the technological front with 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, and will be expand in 2018 to include popular retailers in Canada, Japan, Colombia and Philippines.

 

Disclaimer on Forward Looking statements

Certain information set forth in this release contains “forward-looking information”, including “future oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements).

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

 

About Swych

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 http://goswych.com/download.

Follow us on Twitter @GoSwych, like us on Facebook at fb.com/goswych and follow us on Instagram at instagram.com/goswych.

Swych Announces a Range of Multi-Currency Global Digital Gift Products

The award winning digital gifting platform brings to market yet another industry first innovation through universal, occasion and category based e-gift options redeemable in multiple countries and currencies

PLANO, TEXAS — October 24, 2017: Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced a patent-pending industry innovation with the addition of switchable multi-currency Occasion, Category and Event based e-gifting options in its digital gift card marketplace.

For the first time ever, Swych consumers and enterprise customers can leverage unique, globally redeemable, multi-currency products such as Fashion, Dining, Travel and Entertainment e-gift cards. Based on the location of the recipient, these products are designed to be automatically redeemable in either U.S. Dollar or Indian Rupees at retailers matching the category. Just like other e-gift cards on the Swych system, these category cards can be instantly funded with any denomination and sent to a mobile user instantly. These e-gift cards can then be redeemed by recipients in the Swych mobile app for retailers matching the category in the country and currency where the redemption happens. For example, the Fashion gift card if received by a recipient in the United States might be “swyched” to be used in U.S. Dollars at popular department stores, or specialty clothing and cosmetic retailers. The same card if received by a recipient in India might be “swyched” into Indian Rupees and redeemed at retailers like Shopper’s Stop or Lifestyle. For a consumer, there is no cost to send and no cost to Swych — a truly unique value proposition not currently available in the market. In 2018, redemption options and currency support for these category cards will be added in additional markets such as Japan, the United Kingdom, Australia, Canada and the Philippines.

In addition to the category themed e-gift cards redeemable for selected merchants matching the category, Swych’s selection of e-gift cards also includes Universal Occasion themed products redeemable at any merchant in the Swych network. These products include Happy Birthday, Happy Anniversary, Happy Graduation, For Your Wedding, Hello Baby, and Thank You, and more will be added soon. Swych brings these targeted digital gift cards to a new level with special Event gift cards available at different times of year for special events and holidays, such as Diwali or Christmas themed universal e-gift cards.

Deepak Jain, chief executive officer and founder of Swych, said, “We are re-envisioning gifting between consumers by thinking about it in a social and fun way. Swych’s value proposition is to make every gift a perfect one; and now we are taking it further by making the gifting transaction between consumers located in two different parts of the planet as seamless and easy as sharing a video or having a chat conversation. Our launch of a multi-currency, global category gifting portfolio is a step in this direction.”

Currently, there are no options in the market for multi-currency multi-retailer gift products that don’t carry any interchange or foreign exchange fees. There is no easy and free way for consumers to send gifts to their friends and family abroad or enterprises to reward and incent a workforce present in more than one country. The customer experience is far from delightful. Swych solves this problem with global multi-currency digital switchable — or “Swychable” — gift cards that have no transaction fees, can be used by the recipient at a retailer of his choice, integrate easily with remittance, mobile banking, messaging, conversational commerce, rebate, check disbursement and loyalty platforms to drive customer acquisition, increase engagement, loyalty and retention.

Swych’s patent-pending Gifting as a Service platform, APIs and white-label solutions enables enterprises, financial institutions and telecom operators of all sizes to easily offer “Swychable” gift cards or rewards redemption to their consumers, both domestically and internationally.

Swych has over 130 U.S retailers in its network and is currently onboarding more than 100 retailers from India, the Philippines and several other countries to its network to create the first ever, globally connected network of retailers with a combined choice of millions of products or services gift recipients can choose to spend their gift on. The Swych mobile app is available to consumers in the United States on both Android and iOS platforms.

About Swych

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 130 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. For more information please visit www.goswych.com. To download the award winning Swych app, visit http://goswych.com/download.

Follow us on Twitter @GoSwych, like us on Facebook at fb.com/goswych and follow us on Instagram at instagram.com/goswych.

 

New "swychable" options cards available in the Swych app.

New "swychable" options cards available in the Swych app.

Swych Closes Series A Funding Round With Lead Investment From UAE Exchange Group

UAE Exchange Group leads Series A investment round and will leverage the award-winning Swych platform to offer digital gifting services to its global consumer base, enabled through purpose-based remittances.

PLANO, TEXAS — September 14, 2017: Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced the successful completion of its Series A round, with a major strategic capital investment by UAE Exchange Group, a leading global money transfer, foreign exchange and payment solutions provider.

Through this partnership, the two brands seek to tap into their collective strengths and customer base to develop a symbiotic relationship that will deliver a convenient and enriched digital gifting experience, unrestricted by borders.

Gift cards have become the de facto choice among consumers for gifting services in many markets across the world. Swych offers a global, scalable digital gift card platform as a clear solution for global gifting services. By allowing distribution of relevant digital gifts internationally that are instantly delivered and can be redeemed by the recipient at a local retailer of their own choice, Swych global gifting eliminates the hassles and makes gifting instant, delightful and satisfying for both the sender and the recipient.

Currently available in the United States, Swych will closely collaborate with UAE Exchange to develop and promote digital gifting services in major markets, leveraging the global reach of UAE Exchange. The service between the United States and India is targeted as the premiere launch.

Promoth Manghat, CEO of UAE Exchange Group, said, “Swych’s global gifting technology and vision fits well with our strategy to foster purpose-based money transfers. As a group, we are always on the lookout for opportunities to partner with organizations that drive innovation, provide differential services and promote digital initiatives. In Swych, we see a unique value proposition that checks all these boxes. Additionally, this enables us to expand our offerings to include digital gifting services for our consumers worldwide. We are glad to be a part of this innovative journey with Swych.”

Deepak Jain, CEO and Founder of Swych, added, “We are delighted and honored to welcome UAE Exchange as a strategic partner and major investor. The capital infusion, vote of confidence and access to the huge market reach of a world leader like UAE Exchange will greatly accelerate Swych in its mission to become the leader in digital cross-border gifting services globally.”

Launched in 2016, Swych has rapidly built a large network of 120+ US retailers, offering digital gift options and providing the never before option for consumers and enterprises to send “Swychable” gift cards that can be digitally redeemed by the recipient at any of the retailers on the Swych app. Swych is in the process of connecting 100+ retailers from India, the Philippines and several other countries to its network, thereby bringing to market the first ever globally connected network of retailers with a combined choice of millions of products or services that gift recipients can choose to spend their gift on. Swych has built a technologically superior platform with a large number of unique features seen for the first time in the digital gifting space. The Swych mobile app is available to consumers in the United States on both Android and iOS platforms while enterprises and businesses can access the Swych gifting platform through its patent-pending GiftBot platform or its “Gifting as a Service” APIs. All gifts or incentives sent on the Swych platform are highly personalized, either through a selected brand, an occasion-based gift option, or a customized photo card and message from the sender. All gifts can be “swyched” by the recipient to any brand or retailer in the Swych app in their own country and currency.

 

About UAE Exchange Group

 “UAE Exchange” is a leading global money transfer, foreign exchange and payment solutions brand, headquartered in Abu Dhabi, United Arab Emirates. Established in 1980, today, it is one of the widest accepted globally networked remittance brands and a pioneer in digital adoption.

UAE Exchange, spread across in five continents from Americas to Oceania, operates in 28 countries with a strong network of over 800 direct offices and more than 200,000 agent locations in above 160 countries, and offers digital services including prepaid cards, online money transfer facilities, mobile-based applications and kiosks in many major markets. Over 9000 professionals, representing 40+ nationalities, collaborate every day to ensure consistent and enriched customer experience is delivered across multiple channels, bringing complete delight to more than 15 million customers worldwide.

This customer-centric ethos combined with a quality-driven approach, constant innovation in products and processes, and the deployment of latest technological advancements across all retail operations and digital channels sets UAE Exchange apart from its peers.

UAE Exchange Group is ISO-certified and has been honored internationally for its commitment to Quality Management, winning the European Society for Quality Research (ESQR) Quality Achievement Award and the Dubai Quality Gold Award. It is a member of prestigious associations, including the World Economic Forum and the United Nations Global Compact. The brand has been globally recognized and awarded for its corporate citizenship, customer service initiatives and business excellence.

For more information about UAE Exchange Group, visit www.uaeexchange.com.

 

About Swych

 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. For more information please visit www.goswych.com. To download the award winning Swych app, click here.

Follow us on Twitter @GoSwych, like us on Facebook at fb.com/goswych and follow us on Instagram at instagram.com/goswych.

Swych™ Named Finalist for PYMNTS Innovator 2017 Award

Creator of revolutionary digital gifting platform nominated in Best Prepaid Category

PLANO, TEXAS — March 6, 2017: Swych, Inc., creator of the revolutionary digital gifting platform has been named as a finalist for the 2017 PYMNTS Innovator Award for Best Prepaid Innovation. Swych is disrupting digital gifting by creating gifts that are instantly funded using any digital wallet and can be switched for use at any of the over 100 retailers in the Swych network — all directly from a user’s smartphone. Every gift can now be the perfect gift, every time.

“As the only start-up nominated in the Prepaid Innovation category, Swych is delighted at this industry recognition for our disruptive work in the digital gifting space,” said Deepak Jain, Founder and CEO of Swych. “We are modernizing and re-imagining how people send and receive gifts, by putting the recipient first – bringing modern technology and data analytics to gifting in a way that has never been done before.”

Swych provides an unparalleled user experience with a large variety of gifting and brand options, personalized recommendations to the sender based on the intended recipient, Giftbots in Facebook and Siri, and many other exciting new features unique to the digital gifting industry.

Launched in 2012 by PYMNTs.com, The Innovation Project is an annual event that gathers payments and commerce executives and innovators from around the world to weigh in on the trends, challenges, and direction of payments and commerce. This year’s event, scheduled for March 15-16, at Harvard University* is focused on Betting on the Future and how shifts in payments, commerce and retail have been driven by the birth of smartphones, apps, and new technologies.

“We received a record number of submissions this year, and Swych is among the six finalists chosen to compete for a Gold, Silver or Bronze medal in the 2017 Innovator Awards, Best Prepaid category,” said Karen Webster, CEO of PYMNTS.com. “The three finalists in each category will be recognized at the PYMNTS Innovator Awards Dinner by actor Jason Alexander, whose character ‘George Constanza’ coined the term ‘fat wallet’!”

According to Anu Shultes, Chief Operating Officer of Swych, “Swych is honored to receive this prestigious nomination. We are innovating every day with a mobile first, highly secure, context-aware platform with advanced analytics and fraud prevention. We aim to work hand in hand with large financial institutions, retailers and brands to help eliminate the clutter of plastic gift cards, reduce fraud and increase consumer convenience by making gifting fast, fun and convenient for the sender and delivering a perfect gift every time for the recipient.”

To learn more about the Swych mobile platform, or to download the latest app, visit http://goswych.com/download/.

Give, Get, Swych™.

* The Innovation Project® and PYMNTS.com® are not affiliated with Harvard University, nor is the Innovation Project® 2017 a Harvard University program or activity.

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