FORT LAUDERDALE, Fla. and PITTSBURGH, July 8, 2020 /PRNewswire-PRWeb/ -- Qolo, the B2B payments hub for the New Economy, today announced Telos Gifting, LLC, an innovative Pittsburgh-based investor and incubator, has signed on to adopt Qolo's payment APIs for its subsidiaries - Gift Card Granny® and PerfectGift. Gift Card Granny® is a premier gift card website providing self-use discount gift cards with over 15 million users per year. PerfectGift provides bulk gift cards to bulk buyers.
Qolo's technology delivers payment processing with real-time card fulfillment, an industry first. Through Telos, there are no extra fees for consumers to face and they have the convenience of online ordering. Qolo is also deploying new security around the data, coding the stream of information through its APIs – a departure from industry practices of processors sending files through.
"The team at Telos Gifting is comprised of payments industry veterans with a long track record of success. We're thrilled to work with them," said Qolo CEO Patricia Montesi. "We share Telos's drive for innovation and speed to market, bringing best practices to the payments process for the benefit of companies and consumers."
"Qolo's API suite and agility to work with a fast moving tech company give us confidence that together we can and will make a difference for consumers, companies and the industry," said Jason Wolfe, Founder, Telos Gifting, LLC. "There was a market void and we believe that Qolo's technology addresses the legacy issues that existed. Qolo's technology has allowed us to move forward with our vision to provide more in-the-moment and thoughtful gifts in a secure environment."
With the gift card industry growing in the U.S. to $402 billion by 2023 and the global gift card market growing to $1.5 trillion by 2023 according to Allied Market Research, Qolo is at the forefront in driving and designing better ways for companies to process gift cards.
In addition to bringing retail consumers the benefits of better or discounted gift card products, companies are also able to utilize Telos's PerfectGift to incentivize employees through end of year benefits or to acknowledge best customers. Telos can print on demand moving towards true customization.
About Qolo
Founded in 2018, Qolo is the B2B payments hub for the New Economy with a mission to help businesses navigate today's complex payments and financial transactions landscape. Qolo empowers businesses to manage payments efficiently with an eye toward growth and reduced expense. Qolo supports companies wherever speed, security and cost of payment are important including gig worker payouts, distribution payments, multi-currency and cross-border businesses and modern fintech firms. Composed of experts and entrepreneurs in payments, Qolo's founding team has more than a century of combined industry experience. Learn more at https://qolo.io/.
About Telos Gifting, LLC
Headquartered in Pittsburgh, Telos Gifting occupies the building at 495 Mansfield Ave in Greentree, Pennsylvania. The founder, Jason Wolfe, began building e-commerce and online businesses in 1995. Over the last 20 years we have successfully built some of the Internet's most innovative companies. We started the first coupon site in 1995, the first gift certificate/card site in 1999, the first affiliate network and network tracking tools in 2002, and the first secondary gift card site in 2003. Today, we are actively building the next generation gift company that will fix a broken model and change the game for gift cards in the future. We own well over 20 patents and actively license the patents to help revolutionize the gifting industry.
SOURCE Qolo
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