First Data believes it has bolstered the company's gift card portfolio with the acquisition of digital gift card provider Transaction Wireless. Atlanta-based First Data announced the acqusition Tuesday in a press release. 

First Data said the move is meant to complement its 2014 acquisition of digital gift card provider Gyft.

"First Data now offers one of the industry's most integrated, complete and comprehensive prepaid gift card solution at scale," Barry McCarthy, Executive Vice President, Network and Security Solutions at First Data. "Along with our strong gift card processing and Gyft solutions, Transaction Wireless's outstanding proprietary and comprehensive digital gifting platform will help our clients expand and accelerate their gift card programs."

TWI's cloud-based, digital gift card distribution platform supports open and closed loop prepaid, store-branded gift card program management, offering end-to-end card management and B2B and B2C distribution products for retailers, distributors and resellers, according to the announcement. The proprietary technology enables business owners to migrate from traditional plastic or paper gift cards to digital gift cards via multi-format distribution options, including mobile, social, email and digital wallets.