Orlando, FL (PRWEB) March 20, 2012
SVM LP, the global leader in gift cards and prepaid cards for businesses, announced today the formation of a new business unit that will utilize its core competencies in gasoline rewards and stored value card management. The new business -- named FuelCircle -- will initially leverage SVM’s relationships with BP, Chevron, ExxonMobil and Sunoco to create the first branded, nationwide network for the redemption of stored value fuel rewards. FuelCircle will align multi-channel reward issuers that recognize the value of its collaborative loyalty platform and desire to use the power of gasoline as the ultimate consumer reward.
SVM’s CEO, Marshall Reavis, said, “We’ve been humbled by the strong support we’ve received from the oil brands and as a result of their support we will be able to launch our new FuelCircle reward and loyalty division with nearly 40,000 fuel redemption locations in our network.” Reavis said that the 40,000 locations represent an estimated 450,000 redemption devices across the network.
Jim Leroux, President of SVM, will continue to be responsible for SVM’s core card business and will oversee the newly formed FuelCircle Division. Industry veteran John Cullen, SVM VP of Loyalty, will be responsible for the day-to-day operations and development of the FuelCircle business as its General Manager.
Founded in 1997, SVM is the global leader in providing innovative gift card solutions for businesses. SVM is headquartered in suburban Chicago, IL and SVM Europe has offices in South Yorkshire and London, England. SVM’s products are used by leading incentive, rewards, loyalty and other companies to incent and reward their customers and prospects. SVM is the only company that offers gasoline gift cards from every major oil company in America, as well as 150 of the nation’s most popular retail stores, restaurants, service companies and hotels. For more information on SVM, our gift cards, eGift cards and reward solutions, call (847) 553-9105 or visit http://www.svmcards.com. For more information on SVM Europe, please call 011 44 1709 303115 or visit http://www.svmcards.co.uk.