Plano, Texas-based digital gifting platform Swych Inc., acquired Mumbai-based Gift Cards India Network Pvt. Ltd., to expand into the South Asian gifting and loyalty market. Gift Cards India (GCI) operates an aggregation and distribution network for gift cards that serves retail consumers, enterprises, loyalty platforms and wallet operators.
“Digital gifting is an increasingly powerful engagement tool for retailers to attract consumers via offers [promotions], for consumers to gift their loved ones a special moment, for businesses to reward employees, and as a redemption method for loyalty points and miles,” said Deepak Jain, Swych founder and chief executive.
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. Its network includes retailers in the U.S., India, the U.K., and Australia.
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.”
