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Gift Card Market to Grow by USD 1.33 Trillion (2025-2029), Boosted by E-commerce Growth, AI Driving Market Transformation – Technavio

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NEW YORK, Feb. 7, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global gift card market size is estimated to grow by USD 1.33 trillion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 15.4% during the forecast period. Growth of e-commerce sector is driving market growth, with a trend towards rise of open-loop gift cards. However, additional loss of money in using gift cards poses a challenge. Key market players include Alighieri, Blackhawk Network Holdings Inc., Card USA Inc, Duracard Plastic Cards, Fidelity National Information Services Inc., Fiserv Inc., FleetCor Technologies Inc., Givex Corp., Hennes and Mauritz AB, InComm Payments, JIFITI PRODUCTS, Kindcard Inc., PineLabs Pvt. Ltd., Plastek Card Solutions Inc., Runa Network Ltd., Square Inc., Tele Pak Inc., TransGate Solutions, Village Roadshow Ltd., and Yiftee Inc..

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Gift Card Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 15.4%

Market growth 2025-2029

USD 1331.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.1

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 40%

Key countries

US, UK, Germany, Australia, France, Japan, Canada, China, Saudi Arabia, and Brazil

Key companies profiled

Alighieri, Blackhawk Network Holdings Inc., Card USA Inc, Duracard Plastic Cards, Fidelity National Information Services Inc., Fiserv Inc., FleetCor Technologies Inc., Givex Corp., Hennes and Mauritz AB, InComm Payments, JIFITI PRODUCTS, Kindcard Inc., PineLabs Pvt. Ltd., Plastek Card Solutions Inc., Runa Network Ltd., Square Inc., Tele Pak Inc., TransGate Solutions, Village Roadshow Ltd., and Yiftee Inc.

Market Driver

Gift cards have become a popular trend in both physical and digital retail spaces. Prepaid cards loaded with a specific amount of money have revolutionized payment methods for various stores, websites, restaurants, and businesses. Consumers prefer the convenience of gifting digital options for birthdays, holidays, and special occasions. The younger generations, including Millennials and Gen Z, favor digital gifting over tangible gifts. Impacting factors like cashless transactions, loyalty programs, and customer behavior have boosted the use of gift cards. Brands and retailers offer digital gifting options as marketing tools and rewards & incentives for customer loyalty. Other businesses, including travel companies, OTT platforms, and content platforms, also use digital gift cards to enhance customer experiences. Market participants like FinTechs, PayTechs, and mobile wallets have entered the scene, offering digital platforms for seamless gifting experiences. Demonetization, E-commerce activities, and the Digital India initiative have further fueled the growth of digital gift cards. Strategic alliances between brands and businesses, tax-advantage cards, and E gifting have also contributed to the market’s expansion. In conclusion, gift cards have become a practical, customizable, and environmentally friendly gifting solution for consumers, businesses, and individual users alike. The market is expected to continue growing, impacted by factors such as mobile payments, internet accessibility, and the increasing popularity of online shopping. 

An increasing trend among vendors is the launch of open-loop gift cards over closed-loop ones. Open-loop cards, branded with payment card processors like Visa, MasterCard, and American Express, offer wider acceptance as they are not limited to a specific business. This preference among customers is driving the development of new open-loop gift card products. For instance, InComm, a UK-based prepaid product and payments technology company, introduced Vanilla Go, a global open-loop gift card brand, over five years ago. Open-loop Mastercard gift cards provide a personalized gifting experience. 

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Market Challenges

Gift cards have become a popular payment method for consumers during special occasions, birthdays, holidays, and as expressions of love, gratitude, and appreciation. Prepaid cards offer convenience for both givers and recipients, allowing them to use the amount of money stored on the card at various stores, websites, restaurants, and retail establishments. Businesses, including retailers or brands, other businesses, and corporate clients, issue gift cards as rewards & incentives, experiences, or tangible gifts. Digital gifting options have gained traction among younger generations such as Millennials and Gen Z, who prefer cashless transactions and mobile wallets. Impacting factors include consumer preferences, customer behavior, internet accessibility, and the growing E-commerce activities under the Digital India initiative. Gift cards serve as marketing tools for brand owners and customer loyalty programs, and can be used in various sectors like travel companies, OTT platforms, content platforms, and hospitality services. Market participants include FinTechs and PayTechs, offering digital platforms for online sales and redemption of gift cards. Strategic alliances between retailers and these platforms can impact cash flow and customer journeys, as physical retail spaces merge with online retail spaces. Tax-advantage cards, E gifting, M commerce, and E commerce are also part of this growing market. Virtual cards and mobile gift cards are increasingly popular, offering customizable and environmentally friendly alternatives.Gift cards offer an alternative way to give the gift of choice to recipients. However, they come with certain challenges. For instance, some gift cards have expiry dates, which may result in unused funds if not utilized within the specified period. Additionally, physical gift cards can be misplaced, leading to a loss of the funds loaded on them. Moreover, gift cards are available in various denominations, and any remaining balance after a purchase may go unused. These factors may result in additional spending or lost funds. To mitigate these issues, consider digital gift cards or setting reminders for expiry dates.

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Segment Overview 

This gift card market report extensively covers market segmentation by

TypeE-gifts CardsPhysical Gift CardsDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth AmericaCard TypeClosed-loop CardOpen-loop Card

1.1 E-gifts cards- E-gift cards have become a popular and convenient gifting solution in the retail sector. Their evolution has been rapid, with digitalization playing a significant role in their transformation. E-gift cards, also known as digital cards, are delivered electronically via email and offer enhanced versatility and flexibility. They are an ideal option for last-minute gifting and eliminate the risk of losing physical cards. In the corporate sector, e-gift cards have gained popularity as suitable gifting options for employees, clients, and stakeholders. Vendors benefit from their financial viability and ease of integration with core products and services. The elimination of logistical and management issues associated with physical cards increases operational efficiencies for businesses. These factors are expected to drive the growth of the e-gift card segment in the market during the forecast period.

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Research Analysis

Prepaid gift cards have revolutionized the way we express love, gratitude, and appreciation. These plastic or digital cards allow the recipient to receive a specific amount of money that can be used for payment at various stores, websites, restaurants, and retail establishments, both online and offline. The convenience of gift cards has made them a popular choice for consumers, especially younger generations, who prefer e-gifting, M commerce, and e-commerce. Brand owners use gift cards as a marketing tool to boost sales and customer loyalty. Strategic alliances between businesses have led to the acceptance of gift cards at an increasing number of outlets. Digital and virtual cards have added to the flexibility and convenience of gift cards, making them an essential component of modern consumer behavior. Gift cards offer a personal touch to gifting, allowing the customer to choose how and where to spend the money. They provide a sense of excitement and anticipation for the recipient, making them a thoughtful and practical gift. Whether it’s a special occasion or a simple gesture of appreciation, gift cards continue to be a popular choice for expressing love and gratitude.

Market Research Overview

Prepaid gift cards have revolutionized the way we give and receive amounts of money as presents. These cards, which can be used as a payment method in stores, websites, restaurants, and other businesses, have become increasingly popular for various occasions such as birthdays, holidays, and special occasions. The convenience of gift cards appeals to both the giver and the recipient, allowing for digital gifting options and instant gratification. Consumers, especially younger generations like Millennials and Gen Z, prefer cashless transactions and practical, customizable, and environmentally friendly gifts. Retail sectors, travel companies, OTT platforms, content platforms, and hospitality industries have embraced digital gift cards as a marketing tool and customer loyalty program. Impacting factors include loyalty programs, customer behavior, internet accessibility, online shoppers, and the growing popularity of mobile wallets and digital platforms. Market participants include retailer or brand-specific cards, tax-advantage cards, E gifting, M commerce, and E commerce platforms. Strategic alliances between FinTechs, PayTechs, and businesses have further expanded the reach and usage of gift cards. Virtual and mobile gift cards offer flexibility and convenience, making them a preferred choice for individual users and corporate clients alike. The impact of the Digital India initiative and demonetization has also accelerated the adoption of digital services and cashless transactions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeE-gifts CardsPhysical Gift CardsDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth AmericaCard TypeClosed-loop CardOpen-loop Card

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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v4c Promotes Michael Gibson to Chief Executive Officer

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Promotion follows 765% year-over-year revenue growth, investment from Databricks Ventures, and recognition as the 2026 Databricks C&SI Emerging Partner of the Year as v4c continues to expand its world-class Databricks practice

SCOTTSDALE, Ariz., Oct. 20, 2026 /PRNewswire/ — v4c.ai, a strategic boutique pure-play Databricks services partner, today announced the promotion of Michael Gibson from Chief Revenue Officer to Chief Executive Officer. Gibson’s appointment builds on his leadership in scaling v4c’s global sales organization and expands his responsibilities to leadership across the business as the company continues to strengthen its market-leading position in the Databricks ecosystem.

As Chief Revenue Officer, Gibson helped scale v4c’s global sales organization during a period of 765% year-over-year revenue growth and a 350% increase in its worldwide client base. Central to that expansion has been his focus on aligning v4c’s go-to-market strategy with Databricks, building relationships across its field organization, and connecting enterprise customers with the expertise needed to advance their Databricks initiatives.

Gibson brings experience on both sides of the enterprise technology relationship: building sales teams within a global software organization and leading growth within technology services. Having been a driving force behind v4c’s success, he will build on that foundation with broader responsibility for the company’s continued growth and evolution. As CEO, he will work closely with the Board to define v4c’s strategy and vision, uniting leaders across all functions to translate that direction into company-wide execution. His focus will span business performance, leadership development, and a culture of collaboration and accountability, while advancing customer success and delivery excellence as v4c enters its next chapter in the Databricks ecosystem.

“Mike has been a key driving force behind v4c’s meteoric rise, translating our vision into a pace of growth that we believe is unprecedented in the Databricks ecosystem,” said Vijay Rao, Founder and Board Member of v4c. “He has built an organization that earns the confidence of Databricks leaders and field teams, wins the trust of enterprise customers, and turns those relationships into shared success. His understanding of where Databricks is going—and how v4c can help our mutual customers get there—will be critical as we continue to expand our capabilities within the ecosystem. The Board is confident that Mike is the right leader to build on this momentum and advance our vision of becoming the world’s best Databricks SI.”

Previously, Gibson served as Senior Area Vice President at MuleSoft, where he led nationwide sales teams serving enterprise customers across banking, retail, consumer goods, and manufacturing. His leadership and performance earned him multiple MuleSoft Owner’s Awards for management and culture building, two AVP of the Year honors, and Chairman’s Club recognition. His tenure spanned the company’s initial public offering and subsequent acquisition by Salesforce, giving him firsthand experience navigating rapid growth and organizational change. That experience also shaped his understanding of how platform providers and services partners work together to earn customer trust, support complex technology decisions, and expand enterprise adoption.

Gibson transitions into the CEO role following two major milestones in v4c’s relationship with Databricks: an investment from Databricks Ventures and recognition as the 2026 Databricks C&SI Emerging Partner of the Year. Together, these milestones reinforce the strategic alignment between the organizations and provide a foundation for further investment in Databricks expertise, joint field engagement, and global delivery capabilities.

“I’m proud of what this team has built and grateful to Vijay, Venkat and the Board for the opportunity to lead v4c,” said Gibson. “Databricks is at the heart of our go-to-market, and our vision is to become the world’s best Databricks SI partner. That means earning the confidence of Databricks teams in every market we serve and delivering for the customers who trust us with their data and AI priorities. As CEO, I’ll focus on deepening those relationships and investing in the people and capabilities that make v4c a partner Databricks can count on as we grow together.”

In this new role, Gibson will lead v4c’s global strategy and execution, deepening strategic alignment with Databricks and guiding investments in the people and capabilities behind the company’s growth. His leadership will focus on scaling the business while preserving its culture, advancing delivery excellence, and strengthening the trust v4c has earned with customers and partners.

About v4c

v4c.ai is a premier IT services consultancy specializing in Databricks, helping organizations modernize their data platforms and build enterprise AI capabilities. As a Databricks Ventures portfolio company and the 2026 Databricks C&SI Emerging Partner of the Year, v4c brings expertise across data engineering, AI strategy and governance, generative AI, and machine learning. Learn more at www.v4c.ai.

Media Contact

Savannah Cole
press@v4c.ai

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Synteq Launches Apps & Serverless Functions in Developer Platform Expansion

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Synteq brings managed application hosting and serverless compute to its own infrastructure and network, so developers can run their code alongside their VPS instances, GPUs, and storage.

WILMINGTON, Del., Oct. 20, 2026 /PRNewswire/ — Synteq today announced the launch of Apps and Serverless Functions, two managed products that let developers deploy applications and code without provisioning or operating servers. The launch is the first release in Synteq’s expansion into developer tools and platform services.

Apps run web services, APIs, and workers directly from source. Users can point Synteq at a GitHub repository or run a single CLI command, and the platform detects the language, builds the image, deploys it, and serves it over HTTPS on a Synteq subdomain or custom domain. Every app runs in its own isolated microVM with dedicated CPU, memory, and network. Deployments use readiness checks and zero-downtime rolling updates with one-command rollback. Live logs, per-replica metrics, and request data live in the Synteq Cloud, where custom domains, automatic HTTPS, and first-class secrets are built in.

Serverless Functions run individual handlers on demand, each invocation isolated in its own microVM. They support Node.js and Python runtimes, can be triggered by HTTP or cron, and deploy from the web editor, CLI, or GitHub.

Apps and Functions run on the same hardware and network as Synteq’s VPS, GPU servers, and block storage, so customers can put their application layer in the same location as the infrastructure it depends on.

“Great infrastructure is only half of a great product. The other half is how it feels to use,” said Ben Haupt, Director of Growth & Product at Synteq. “Functions let teams run scheduled jobs, webhooks, and automation right next to their existing Synteq servers, with every invocation isolated. Apps give developers a git-push path to production. Building a platform that’s easy for developers to operate is at the core of our roadmap, and this is the first step.”

“Our customers already trust us with their most demanding workloads, but have been asking for a broader product ecosystem to migrate their full workloads away from other providers,” said Eric Yingling, Chief Executive Officer of Synteq. “Apps and Functions give developers one place to ship everything, from a weekend project to the production API at the core of their business.”

Launch highlights

Deploy from source: GitHub, direct upload, or a single CLI command, with automatic builds and Dockerfile supportServerless Functions: run scheduled jobs, webhooks, and automation on demand, with no servers to manageFull tenant isolation: every app and function invocation runs in its own Firecracker microVMBudget-bound autoscaling: apps scale with demand up to a spending limit you setLocations at launch: Dallas (DFW) and Chicago (CHI)99.99% uptime SLA

Apps and Functions are available today in Dallas and Chicago and are managed from the same API, CLI, and Synteq Cloud control plane customers already use for GPU servers, virtual machines, and block storage.

In the coming months, Synteq plans to add Virtual Private Clouds (VPCs), floating IPs, load balancers, and cloud firewalls to its platform. Apps will also gain SSO and password protection for preview environments. VPC support will let Apps and Functions connect privately to customers’ existing Synteq servers and storage.

About Synteq

Synteq delivers GPU compute, bare metal, and virtualized infrastructure to enterprises, researchers, and developers worldwide, operating its own network (AS400304) and infrastructure footprint across multiple sites. Synteq combines enterprise-grade infrastructure with exceptional price-performance compute, storage and virtualization. Learn more at synteq.com.

Media Contact: pr@synteq.com, https://www.synteq.com

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NC AI Officially Releases VARCO Sound, the Generative AI Sound Production Service

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Text, image, and video inputs generate audio and enable detailed modification through “Multitrack” Special release promotion offers 50% discount on the first month’s subscription fee and bonus points Conversational AI “Sound Agent” uses natural language processing, allowing intuitive and accurate arrangements Desktop application and Unity plugin allow seamless integration with existing workflows

SEOUL, South Korea, Oct. 20, 2026 /PRNewswire/ — Create and arrange a variety of sounds for a single scene with VARCO Sound, the multitrack AI sound generator.

Multimodal AI company NC AI announced the official release of its generative AI platform, VARCO Sound, on the 20th. Users can easily generate and edit scene-appropriate audio using text, images, and videos. VARCO Sound is designed to help developers and producers who are unfamiliar with sound design bring their creative ideas to life with high-quality soundtracks.

Users can also access the web version of VARCO Sound by signing up on the official website.

NC AI also announced a promotion for VARCO Sound and the AI 3D generator VARCO 3D, running until Nov. 30 following the release. The offer supports continued creation by making AI-based content generation tools more accessible and is available to both new members and existing members who have been using the free version.

Users who make their first purchase during the promotion can receive a 50% discount on the first month of their subscription. Additional bonus points will also be provided, with higher-tier subscriptions receiving even more points. This offer is available once per account for VARCO Sound and VARCO 3D each.

Events will also be held in the official VARCO Discord community. Users who join through the dedicated links provided in each service announcement can enjoy one month of free access to the VARCO 3D Plus plan or the VARCO Sound Lite plan. The first 100 users to join the community will receive the exclusive “VARCO OG” title. In addition, the top five users who share game assets created with VARCO 3D in the community will be selected to receive service credits and titles. Event periods and participation details are available in the Discord announcements for each service

VARCO Sound is a comprehensive platform that allows users to generate and fine-tune audio tracks for content such as games, videos, and animations. Users can describe the desired audio through text or upload an image or video, and the AI analyzes the input to generate scene-appropriate Foley sounds, sound effects, ambient audio, and more.

The tool’s most unique feature is its ability to provide separate tracks for each audio source rather than a single audio file. Users can check each track individually, adjust its volume, or replace specific sound effects to further polish the result and better realize their creative vision.

In addition, the “Variation” feature allows users to build on their existing work. Users can upload an original sample to generate variations while preserving its texture and nuance. This substantially reduces the time required to refine ideas and develop prototypes.

The entire generation and editing process can be conducted through natural language using the conversational AI “Sound Agent.” A simple description of the desired outcome is analyzed by the AI agent, which automatically applies the appropriate features, lowering the entry barrier for new users.

Furthermore, VARCO Sound comes with an automatic volume mixer feature that prevents sounds from clashing when multiple tracks are played simultaneously. The AI examines and adjusts the volume balance between different tracks so that no sound is too loud or too quiet.

Currently, the maximum length of an audio file that can be generated is 60 seconds, and NC AI plans to continue improving the tool’s performance to support video inputs of up to 120 seconds.

NC AI has also released a desktop application and a Unity plugin that allows the tool to seamlessly integrate into the existing workflows of creators. Assets created through the desktop application can be dragged and dropped into other DAWs for immediate use. A personalized library search feature based on natural language and audio will be added in the future to further streamline each user’s workflow.

Moreover, the Unity plugin was selected as a Unity Verified Solution, demonstrating its performance and compatibility. The plugin allows game developers to stay within the Unity engine while creating audio tracks using just text and images and immediately apply them to their projects using the built-in editing tools.

NC AI’s CEO Yeonsoo Lee said, “VARCO Sound has evolved into an ‘AI platform designed for professional needs’ that boosts creators’ efficiency without disrupting their existing workflows.” Yeonsoo Lee added, “We will establish a new paradigm in the global audio creation ecosystem through continuous technological advancement and seamless integration with a wide range of external platforms.”

About NC AI

NC AI leverages over a decade of game AI expertise to develop advanced multimodal and Physical

AI solutions for digital content and industrial sectors. Under its proprietary VARCO brand, the company delivers generative AI tools spanning text, audio, and 3D assets. Under the VAETKI brand, NC AI expanding into Physical AI including Digital Twins, World Models, and Robot Foundation Models (RFM). NC AI applies virtual simulation and reinforcement learning to mission-critical industries like defense and smart manufacturing, seamlessly connecting digital intelligence to physical execution.

NC AI Official Website and Social Media

| Websites   Company Website: https://nc-ai.com/  
                    Official LinkedIn: https://www.linkedin.com/company/nc-ai/
                    Official Blog: https://medium.com/nc-ai
                    Official Instagram Account: https://www.instagram.com/ncai_official/
                    Official YouTube Channel: https://www.youtube.com/@nc_ai/  
                    Official Discord: https://discord.gg/uTBqazNuKr 

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