Shopee chooses Givex to expand its gift card sales

Rhea-AI Summary

Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) has been chosen by Shopee, a major marketplace platform, as its technology partner for gift card processing and distribution in Brazil. This partnership aims to expand Shopee's gift card reach beyond its platform, offering customers a new way to access Shopee's shopping options.

Key points:

• Shopee gift cards will be launched on GivexHub, Brazil's largest gift card distribution channel
• GivexHub provides access to over 120 million digital wallet users (B2C) and 40,000 corporate customers (B2B)
• Shopee will be the first online marketplace to launch its gift card solution on GivexHub
• Users can buy Shopee gift cards through popular mobile wallets and redeem them in the Shopee App

Positive

• Partnership with Shopee, a major marketplace platform, for gift card processing and distribution in Brazil
• Access to GivexHub's large customer base: 120 million digital wallet users and 40,000 corporate customers
• Potential for increased market growth and adoption in the Brazilian region
• First online marketplace to launch gift card solution on GivexHub, providing a competitive advantage

Negative

• None.

News Market Reaction

-0.45%

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-0.45% News Effect

On the day this news was published, GIVXF declined 0.45%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

The partnership will help the gift card reach an even larger audience outside the marketplace platform

SAO PAULO, July 24, 2024 /PRNewswire/ - Givex Corp. ("Givex") (TSX: GIVX) (OTCQX: GIVXF) a cloud-based global customer engagement and business insights platform, is proud to announce that it was chosen by Shopee, a marketplace that connects sellers and consumers, to be the technology partner for its gift card processing and distribution in Brazil.

The gift card will give millions of customers a seamless new way to connect with the infinite shopping possibilities of the Shopee platform through Givex technology. 

"We are very excited about the launch of the Shopee gift card and the endless shopping possibilities that we will bring to the Brazilian public," says Maria Costa, Managing Director, Givex Latam. "We've already seen a lot of demand for this product in the market and no one is better than Shopee and Givex to bring this major launch to Brazil."

Givex has worked closely with Shopee on the go-to-market strategy for this launch and will help drive market growth and adoption in the region. The Shopee gift card will also launch on GivexHub, the largest gift card distribution channel in Brazil. GivexHub provides Shopee and other brands with access to a B2C market of over 120 million digital wallet users and a B2B market of over 40,000 corporate customers.

Many national brands already sell and distribute their gift cards through GivexHub but Shopee will be the first online marketplace to launch its gift card solution in this channel. With this GivexHub launch, millions of users will now be able to buy Shopee gift cards directly through Brazil's most popular mobile wallets and then redeem them in the Shopee App.

About Givex 

The world is changing. Givex is ready. Since 1999, Givex has provided technology solutions that unleash the full potential of engagement, creating and cultivating powerful connections that unite brands and customers. With a global footprint of 132,000+ active locations across more than 100 countries, Givex unleashes strategic insights, empowering brands through reliable technology and exceptional support. Givex's integrated end-to-end management solution provides Gift Cards, GivexPOS, Loyalty Programs, GivexEngageAI, and more, creating growth opportunities for businesses of all sizes and industries. Learn more about how to streamline workflows, tackle complex challenges and transform data into actionable insights at www.givex.com.

About Shopee

Shopee is a marketplace that connects sellers and consumers in an easy, safe and fun shopping experience. Launched in 2015 in Singapore, Shopee arrived in Brazil in 2019 and currently has a team of more than 10,000 employees and two offices in the city of São Paulo. The company has 11 distribution centers and more than 100 logistics hubs across the country, to meet the sales of its more than 3 million Brazilian sellers, who are currently responsible for 90% of the platform's transactions.

View original content to download multimedia:https://www.prnewswire.com/news-releases/shopee-chooses-givex-to-expand-its-gift-card-sales-302205860.html

SOURCE Givex Corporation

FAQ

What is the partnership between Givex and Shopee for gift cards in Brazil?

Givex has been chosen by Shopee as its technology partner for gift card processing and distribution in Brazil. This partnership aims to expand Shopee's gift card reach and provide customers with a new way to access Shopee's shopping options.

How will Shopee gift cards be distributed through Givex's platform?

Shopee gift cards will be launched on GivexHub, Brazil's largest gift card distribution channel. This platform provides access to over 120 million digital wallet users and 40,000 corporate customers, allowing for wide distribution of Shopee gift cards.

What makes Shopee's gift card launch unique on GivexHub?

Shopee will be the first online marketplace to launch its gift card solution on GivexHub, setting it apart from other national brands that already sell and distribute their gift cards through the platform.

How can users purchase and redeem Shopee gift cards through Givex's platform?

Users can buy Shopee gift cards directly through Brazil's most popular mobile wallets connected to GivexHub. These gift cards can then be redeemed in the Shopee App, providing a seamless shopping experience.