InComm Continues Overseas Push with ValuAccess Buy
Atlanta-based prepaid product and transaction services company InComm has acquired the Hong Kong prepaid distribution business of ValuAccess for an undisclosed sum, marking the company’s second international acquisition this year. In January, InComm, which operates in more than 30 countries, expanded its European footprint with its purchase of TibiDono.
ValuAccess provides stored value and loyalty programs as well as transaction processing to Asian retailers and has been an InComm partner since 2012. InComm said the ongoing success and significant growth of the business, which gives local consumers access to a suite of prepaid products, ultimately led to the acquisition.
“This acquisition strengthens InComm’s international presence and reaffirms our commitment to the Asian market,” said Frank Monaco, executive vice president and general manager, international at InComm. “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.”
InComm isn’t the only one looking to Asia-Pacific as a growth market. Mastercard in May announced it was opening its Integrated Processing services there. And in February, i2c Inc. said its platform would support credit and debit card payment processing in key Asian markets for payments technology provider TIS.