Canonical URL: https://giftcard.news/gift-cards/virtual-incentives-reports-growth-in-2021-primed-for-strong-2022-c9a2c70c749c/ --- description: The company’s March 2022 review also described more than 500 new e-gift cards, expanded payout options and over 100 new customers. title: Virtual Incentives Reports 45% Revenue Growth and Gift Card Expansion for 2021 image: https://giftcard.news/images/social/v1/virtual-incentives-reports-45-revenue-growth-gift-card-expansion-2021-de133e95c030fdaffab2e3551073a4f5.jpg --- 1. [Home](https://giftcard.news/) 2. [Gift Cards](https://giftcard.news/gift-cards/) # Virtual Incentives Reports 45% Revenue Growth and Gift Card Expansion for 2021 The company’s March 2022 review also described more than 500 new e-gift cards, expanded payout options and over 100 new customers. By [Suzie Elis](https://giftcard.news/author/suzie-elis/) March 22, 2022 1 min read Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fgift-cards%2Fvirtual-incentives-reports-growth-in-2021-primed-for-strong-2022-c9a2c70c749c%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Virtual%20Incentives%20Reports%2045%25%20Revenue%20Growth%20and%20Gift%20Card%20Expansion%20for%202021 "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fgift-cards%2Fvirtual-incentives-reports-growth-in-2021-primed-for-strong-2022-c9a2c70c749c%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Virtual%20Incentives%20Reports%2045%25%20Revenue%20Growth%20and%20Gift%20Card%20Expansion%20for%202021%20https%3A%2F%2Fgiftcard.news%2Fgift-cards%2Fvirtual-incentives-reports-growth-in-2021-primed-for-strong-2022-c9a2c70c749c%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![two people having a work discussion](https://giftcard.news/images/variants/v1/virtual-incentives-reports-45-revenue-growth-gift-card-expansion-2021-two-people-w1024.webp) Photo: Source: virtualincentives.com [Virtual Incentives](https://giftcard.news/company/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](https://giftcard.news/person/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](https://giftcard.news/company/visa/) prepaid and reloadable cards. Virtual Incentives also reported a 45% rise in Visa reward issuance and a 63% increase in [Amazon.com](https://giftcard.news/company/amazon-com/) gift cards in its review of 2021\. It described a 31% increase in worldwide demand, without providing transaction counts or an absolute revenue figure in the post. 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. ## Sources and documents ExpandCollapse * [Thankful for our growth in 2021; Primed and ready for 2022!](https://www.virtualincentives.com/thankful-for-our-growth-in-2021-were-primed-and-ready-for-2022/?utm%5Fsource=giftcard.news) — virtualincentives.com ## In this article ### Companies * [Amazon.com](https://giftcard.news/company/amazon-com/) * [Virtual Incentives](https://giftcard.news/company/virtual-incentives/) * [Visa](https://giftcard.news/company/visa/) ### People * [James Gary](https://giftcard.news/person/james-gary/) Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fgift-cards%2Fvirtual-incentives-reports-growth-in-2021-primed-for-strong-2022-c9a2c70c749c%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Virtual%20Incentives%20Reports%2045%25%20Revenue%20Growth%20and%20Gift%20Card%20Expansion%20for%202021 "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fgift-cards%2Fvirtual-incentives-reports-growth-in-2021-primed-for-strong-2022-c9a2c70c749c%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Virtual%20Incentives%20Reports%2045%25%20Revenue%20Growth%20and%20Gift%20Card%20Expansion%20for%202021%20https%3A%2F%2Fgiftcard.news%2Fgift-cards%2Fvirtual-incentives-reports-growth-in-2021-primed-for-strong-2022-c9a2c70c749c%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![Portrait of Suzie Elis](https://giftcard.news/images/variants/v1/suzie-elis-editorial-portrait-w320.webp) About the author ## [Suzie Elis](https://giftcard.news/author/suzie-elis/) Journalist — Gift Cards & Digital Gifting Suzie Elis covers gift card products, digital gifting and distribution for Gift Card News. From reading to building ## Your next move in gift cards. Tell us what you’re building. We’ll help you explore suitable providers. 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