Leaders with Chattanooga company TransCard, which assists financial institutions in offering nontraditional transaction products, announced this week they are acquiring HQ Gift Cards, a program manager of mall-based prepaid card programs.
“We are excited about the opportunity to expand our markets and secure a coveted distribution channel," TransCard CEO Craig Fuller said in a prepared statement.
The move means that TransCard has the chance to open new retail distribution channels for a variety of prepaid products, according to a news release.
"We have some exciting plans with the business and plan to leverage our product-suite and world-class technology to the network of mall operators," Fuller also said. "The acquisition of HQ is the latest in a series of new product, marketing, channel and technology innovations from TransCard. Many more such developments are planned for 2013.”
HQ's leaders manage operations for more than 300 malls and casinos.
Click here for more information about TransCard and here for more information about HQ Gift Cards.
