National Gift Card has acquired digital payments platform Benefit Mobile. With the acquisition, the gift-card fulfillment company expects to expand its technological capabilities and elevate its customer offerings. The acquisition is expected to allow NGC to improve upon and replace existing systems, capitalizing on Benefit's expertise in native and optimized mobile solutions, applying that knowhow to gift cards. According to NGC, this will better allow the company to roll out an expanded suite of digital products and tools, built with an enhanced user interface.
Benefit Mobile's platform allows consumers to earn points on every purchase they make at select retailers, with a percent of their total transaction going to a chosen nonprofit organization, school or cause. The organization currently counts brands such as IHOP, Lowe's, American Airlines and Home Depot among its merchant partners. With its acquisition by NGC, the platform and its Benefit app will utilize NGC's own expansive network of more than 500 merchant partners and more than 2,000 corporate customers, giving it greater clout in the fundraising market.
"NGC, with the acquisition of Benefit Mobile's talent team, is now poised to offer new gift-card technology solutions and sales channels to our client and merchant partners as we look to revolutionize the industry," former NGC President Eric Thiegs, who will now serve as chief revenue officer, told Incentive.
"The NGC and Benefit Mobile marriage brings a fresh, powerful, and technology-forward approach to the gift-card industry," said D.J. Asad, president and CEO of Benefit Mobile, who will now serve as president of NGC, in a statement. "Together, we have the size and stability of a major player while still being nimble enough to truly innovate and partner collaboratively with our customers."
Benefit Mobile's leadership will come on board to NGC, with cofounders Darron Schall and Derik Lolli moving into the positions of chief technology officer and chief product officer, respectively, where they will focus on devising creative prepaid solutions for the organization.
Adam Van Witzenburg, CEO of NGC, said the acquisition would position NGC "to transform the gift-card landscape by offering unparalleled technology and unique solutions for our customers and brand partners."