Givex, a Toronto-based provider of cloud based data processing services, has acquired the gift card business of Chase Paymentech, the payment processing and merchant acquiring business of JPMorgan Chase.
Chase Paymentech gift card clients will be shifted to Givex servers and transactions will continue to be processed using existing integrations and protocols.
Givex will offer Paymentech merchants loyalty, campaign management, fulfillment services, analytics, Uptix (value added venue tickets), mobile wallet, e-gifting and on-line ordering features.
The Canadian payment processor will open an office in Dallas to support Paymentech’s client base and will provide the merchants with preferred client access to the Vexilor cloud based POS system to take advantage of Givex customer relations programs.
Chase Merchant Services solutions and innovation head Jasper Malcolmson said: "We regularly evaluate the products and services we offer our customers and made the business decision to divest our gift card business. We are confident that Givex will continue to provide our merchants with exceptional service when supporting their gift card needs."