Virtual Incentives reported 45% year-on-year revenue growth for 2021 alongside expansion of its e-gift card catalogue and prepaid payout options. In the March 22, 2022 update, co-founder and chief executive James Gary linked the company's progress to its payment platform and reward selection.

The company said it introduced more than 500 e-gift cards across 18 countries in Europe, Africa and South America. New platform capabilities included direct deposits into US recipients’ bank accounts and Canadian virtual Visa prepaid and reloadable cards.

Virtual Incentives also reported a 45% rise in Visa reward issuance and a 63% increase in Amazon.com gift cards, describing the comparison as last year against years prior. It did not define count versus value or a common comparison period for those product figures. An April update reports 95% virtual and 65% physical Visa growth while linking back to this March post; the scope difference remains unexplained. The March post also cites a 31% increase in worldwide demand without defining that population or providing transaction counts or an absolute revenue figure. These claims are distinct from the separately reported company revenue growth.

More than 100 customers joined during the period, according to the company. That group included eight Global Fortune 500 businesses and government bodies, including US federal and state agencies.

Gary thanked staff, customers and partners and expressed optimism about the remaining quarters of 2022. That outlook was part of the March 2022 update and did not establish the company’s subsequent performance.