OTTAWA, Nov. 22, 2012 – Ackroo Inc. (TSX-V: AKR), a loyalty and rewards technology and services provider, today announced the execution of a definitive sales agent agreement with NXGEN Payment Services (NXGEN), one of the world’s largest merchant service providers. Under the terms of the non-exclusive agreement, NXGEN’s U.S. network of 180 sales agents will assist with the marketing and sale of Ackroo’s DealerCard program to their current and prospective automotive dealership customers.
DealerCard is Ackroo’s turnkey revenue retention loyalty program specifically designed for automotive dealerships to increase profit margins, boost customer retention and create new revenue streams.
Consistently rated the #1 merchant service provider in the U.S. by Elavon, one of the world’s largest payment processors, NXGEN supplies processing services and technology to businesses throughout the United States.
“At NXGEN we are constantly seeking new and better products and programs to help our merchants become more successful,” said Tim Hinderman, global vice president, sales and marketing at NXGEN Payment Services. “In DealerCard we feel that we have found a program for automotive dealers that can truly increase revenue and improve their bottom line. We’re excited to be working with Ackroo to offer DealerCard to our automotive dealership merchants.”
Tyler Nelson, chief executive officer at Ackroo commented, “We look forward to working with NXGEN to leverage the relationships its agents have built with automotive dealers and dealer groups in the U.S. This partnership further validates our value proposition in the automotive vertical and will accelerate Ackroo’s penetration of the U.S. market.”
Ackroo enables small to medium sized businesses, independent merchants and business networks to increase profitability and build long-term customer relationships through customized loyalty and rewards programs. Their web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses of any size to design and launch their own five-star loyalty program. Ackroo’s online and in-store loyalty program options provide a blend of stored value capabilities and diverse loyalty incentives, arming businesses with their own ‘private currency’ and the flexibility to create customized loyalty programs that resonate with their customers. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
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For further information:
Director, Investor Relations | Ackroo
Tel: 877-255-8483 | Mobile: 403-470-8384
Vice President, Marketing | Ackroo
Tel: 613-599-2396 x705
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and 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.
This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Ackroo Inc. and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Ackroo will derive there-from.