EML buys Flex-e-Card

Combined business will now support over 800 shopping mall gift card programs

In a deal to create a dominant supplier of gift cards to retail destinations, fintech company FEC has bought Flex-e-Card which currently has 226 shopping centres under contract through Europe, principally in the UK, Ireland, Poland, Italy, and Finland, as well as the United Arab Emirates.

As a result, EML will become be the global leader of this segment with more than 800 shopping mall gift card programs under management. The deal will enhance EML’s relationship with existing mall operators such as ECE and Unibail-Radamco-Westfield, and new relationships with major mall owners, Intu in the UK and Emaar in the UAE.

Flex-e-Card managing director Neil Wake has run the business since 2015 and will remain in the role.

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