InComm, a prepaid product and transaction services company, has acquired Hong Kong-based prepaid distribution business of ValuAccess, a provider of stored value programs, loyalty programs and transaction processing to Asian retailers.
Before takeover, InComm and ValuAccess achieved marked success in Hong Kong through a partnership established in 2012 that combined InComm's global reach with ValuAccess's insight to fulfill the requirements of the Hong Kong consumer and retail markets.
The acquirer said that the collaboration provided local consumers a collection of products including prepaid cards, gift cards and other stored-value programmes.
InComm executive vice president and general manager of international Frank Monaco said: “This acquisition strengthens InComm's international presence and reaffirms our commitment to the Asian market.
“Asia continues to be a key strategic focus for InComm and this will enable us to continue to build on our success throughout the region."
ValuAccess CEO Alistair Gordon said: “We will continue to support InComm by distributing our local stored value gift card products through their retail distribution partners and providing local processing support."