Ackroo and Posera expand product offering and strengthen First Data partnership with combined solution
OTTAWA, ON–(Marketwired – April 12, 2017) – Ackroo Inc. (TSX VENTURE: AKR) (OTC PINK: AKRFF) (“Ackroo”), a gift card, loyalty and rewards technology and services provider, announced the launch of its latest advancement to the Ackroo Anywhere platform with integration to Posera’s SecureTablePay (STP) middleware pay-at-the-table solution. This development will provide current and prospective Ackroo customers the opportunity to process gift card and loyalty transactions on wireless terminals that integrate to various point-of-sale (POS) software solutions, and will provide merchants who use Posera’s STP payment solution to accept Ackroo gift cards as a form of payment with the STP wireless payment terminal. Before this advancement, Ackroo merchants who utilized integrated wireless terminals in environments like restaurants would be required to fund and redeem gift card and loyalty transactions at one of the main POS stations instead of via wireless terminals that a server would bring to the table. In the restaurant environment, this process isn’t ideal for staff or customers, and integration represents a significant enhancement for this merchant segment. This advancement not only assists merchants who use hard cards from Ackroo for gift and loyalty but also those that will deploy Ackroo’s new mobile application as their new Pay Code system (Ackroo’s proprietary solution that allows stand-alone terminals to accept mobile payments) will support pay-at-the-table for mobile as well. This is a leading-edge solution provided by Ackroo and Posera to better support the hospitality industry.
The solution will be available for deployment by Ackroo merchants initially using First Data terminals only. In the future, other processing partners may be included, however, the initial joint venture is between First Data, Ackroo, Posera’s SecureTablePay, and the various POS systems integrated with the STP solution.
“Pay-at-the-table is a very important enhancement needed for the restaurant segment,” said Steve Levely, Chief Executive Officer at Ackroo. “Restaurants are constantly looking for ways to improve the customer experience while also reducing operational strain on their staff. Pay-at-the-table technology supports that need in a secure and easy to use manner, and since most casual and fine dining restaurants have moved to this method of accepting debit and credit payment, we also wanted to be able to support our gift card and loyalty payments being accepted this way. This advancement also assists our mobile strategy. Via Ackroo’s Pay Code system, within the white labelled mobile application, consumers can use their mobile devices to redeem at the table through the handheld terminals. The solution will be launched initially for First Data terminals only providing yet another competitive advantage for our channel partner to offer Ackroo to their current and prospective merchant base. Very exciting enhancement for Ackroo, First Data, Posera, the various POS partners involved, and our merchants.”
“Enabling customers to pay at the table improved convenience and security for customers and efficiency for the restaurant industry, and now paying at the table got even better,” said Dan Poirier, Chief Executive Officer of Posera. “This new partnership between our SecureTablePay solution and Ackroo, will enable customers to pay using gift cards or redeem their loyalty rewards right at the table. Regardless of your method of payment, SecureTablePay will allow customers to pay quickly and securely. In fact, customers will even be able to split their payment between the different payment methods right at the table.”
In addition, Ackroo announces that it has cancelled 450,000 existing incentive stock options at various strike prices and has granted options to purchase 510,000 common shares to directors, officers, employees and consultants of the Company exercisable at a price of $0.155, for a period of 3 years. The grant is subject to the approval of the TSX Venture Exchange.
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay™, which is an EMV compliant pay-at-the-table application. Posera’s Maitre’D™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains. Posera’s products have been translated into eight languages. For more information, visit www.posera.com.
Posera Ltd.’s shares are traded on the Toronto Stock Exchange under the symbol “PAY”. More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.
Founded in 2012, Ackroo provides gift card and loyalty processing solutions to help retail and hospitality merchants attract, retain and grow their customers and their revenues. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card & loyalty transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the company’s ability to raise enough capital to support the company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
- For information, please contact:
Chief Executive Officer
Tel: 613-599-2396 x730
Chief Financial Officer
Tel: 416-703-6462 x2203