SVM LP, which specializes in b2b prepaid gift cards for incentive, loyalty, and promotional programs, has expanded its offerings with the acquisition of 1to1 Card, based in Woodridge, IL. Based in Arlington Heights, IL, SVM offers "closed-loop" gift cards from a wide range of retail, restaurant, and hotel brands, but the acquisition of 1to1 will expand its offerings to include "open-loop" prepaid cards usable anywhere credit cards are accepted. They can be customized to each customer.
"We see many benefits for our customers including superior economics and incremental products," said Marshall Reavis, founder and CEO of SVM. "In a market where the competitive landscape is so challenging, this is a significant advantage for our customers when looking at the bottom line."
He added that the acquisition will allow SVM to "provide one-stop shopping" to clients, enhancing its existing services of production, inventory management, fulfillment, online hosting, and marketing for both consumer and employee gift card programs. The acquisition will enhance the offerings to 1to1's customers as well, providing its current clients with new products and greater convenience.
"SVM brings an unparalleled opportunity to 1to1 Card and our loyal customers as we expand our capabilities and leverage SVM's well-established closed-loop partnerships," added 1to1 Card CEO and President Mark Tepper. "Their business complements our prepaid card solutions, and we are excited for a future that combines the knowledge and expertise of 1to1 Card and SVM."
Tepper explained that the two companies will maintain separate offices and operations for the time being, but will begin to cross-market products and services immediately, in order to provide both sides' respective customers with the maximum variety of services and products. Among the more than 350 brands in SVM's portfolio are ExxonMobil, Lowes, Amazon, CVS, iTunes, Starbucks, Chevron and Texaco, Dunkin Donuts, Best Buy, Walmart, Bed, Bath & Beyond, American Airlines, Hyatt, Staples, TGI Fridays, Target, Phillips 66 and Choice Hotels.