Transaction Combines Emida’s Leadership in Global Prepayments and Value Transfer with Quippi’s International Gift Card Platform
FOOTHILL RANCH, California, October 6, 2015 (Business Wire) – Emida Inc., a leader in the global prepayment and value transfer market, today announced that it is acquiring Quippi Corporation and its innovative international gift card platform. Terms of the transaction were not disclosed. Quippi’s team will join Emida and all of Quippi’s business activities will immediately become part of Emida. Customers will continue to be able to purchase Quippi’s gift cards at all existing Quippi channel partners as well as at www.quippi.com.
“Quippi’s international gift cards are highly synergistic with Emida’s existing prepaid business, and we are very pleased to now have Quippi as part of the Emida family,” said David Kirtman, CEO of Emida. “We look forward to working together to develop this exciting new category.”
“We are delighted to combine Quippi’s gift card platform and our deep retail relationships in Mexico with Emida’s substantial global prepayment business,” said Michael Aleles, CEO of Quippi. “Emida has the scale to distribute gift cards that would have taken Quippi many years on its own to build. We are delighted to become part of the Emida team and work together to create a new category for international value transfer.”
Emida is a leader in the global prepayment and value transfer market, operating in 37 countries throughout North, Central and South America, the Caribbean, Africa, Oceania, the Middle East and Europe. We support a network of more than 54,000 retail points with an annual dollar payment volume in excess of $1.5B, processing more than 240 million annual payment transactions.
Our network technology enables the domestic and international distribution and value transfer of many types of prepaid products and payment services. Our strategy is to build profitable, robust distribution networks for many prepaid products in targeted operating geographies, and to introduce unique cross border value products between regions. Our payment processing platform provides robust revenue solutions for distributors, ISOs, retailers, carriers and service providers alike.
Quippi offers consumers living in the U.S. the opportunity to share their financial resources in a flexible, yet controlled way with loved ones abroad via international gift cards. Quippi sells gift cards in the U.S. that can be redeemed at over 4,800 locations of leading retailers in Mexico, including Coppel, Chedraui, Farmacias Benavides, Office Depot Mexico, Construrama, FarmaTodo, and Opticas Devlyn. Quippi cards are available for purchase at www.quippi.com and at over 5,000 independent retailers in California and Texas. Launched in 2013, Quippi is headquartered in San Diego, California. For more information, visit www.quippi.com.
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