Ackroo releases merchant branded white labeled mobile application for consumers
OTTAWA, Aug. 22, 2016 /CNW/ - Ackroo Inc. (TSXV: AKR) (OTC: AKRFF) ("Ackroo" or the "Company"), a gift card, loyalty and rewards technology and services provider, today announced enhancements to Ackroo Anywhere, their market leading gift card, loyalty and rewards platform. The enhancements focus on the customer experience allowing merchants to deploy their own branded native mobile application for their customers. Ackroo merchants will be able to offer their customers the ability to use their mobile application to:
- Register their information
- Fund and redeem gift card/loyalty/promotions by using the mobile application to interface with Ackroo integrated Point of Sale Management Systems through QR codes
- Check balances, transactions, and update profile
- Find locations by proximity, hours of operation, and other location information
- Check program information and policies
- Make support inquiries
Consumers will also be able to go online via the merchant's website to buy e-gift cards, reload, check and transfer balances, which will update their accounts so that they can redeem via the mobile app as well. All fully branded for the merchant but powered by Ackroo.
The Company's first merchant to use the initial version of the application has gone live across 20 locations in Ontario, Canada. In version 2 of the release, expected in Q4 2016, there will be other key enhancements added, including:
- Enhanced locations and profile view
- Ability to use mobile on Ackroo certified debit/credit terminal machines, Virtual Terminal, and Integrated Management Systems through QR code, Barcode and/or Pay Code
- Merging cards and transferring funds
- Gift reload
The product will continue to evolve in an effort to become the markets leading white-labelled mobile gift card and loyalty application helping to further differentiate Ackroo from its peers.
"This product enhancement is a transformational step forward for Ackroo", said Steve Levely, chief executive officer at Ackroo. "Many analysts suggest that there are now more mobile devices then people globally and so it was just a matter of time before we would need to take this step forward. The timing was right when we acquired D1 Mobile's Appetite platform earlier this year to allow us to make these enhancements as our customers are now pushing for us to deploy a mobile solution as a complement to our physical and virtual card offerings. We have also seen many of our competitors evolve their product with mobile and in an effort to remain competitive, it was time to make this critical enhancement. Mobile applications branded to the merchant encourage brand engagement, replaces hard and virtual cards for mobile users, and allows for merchant specific content to be pushed to the customer, such as campaign and promotional rewards. Mobile is really the last step in closing the merchant to customer loop. Commercially we believe this will have a significant impact on our business, not just in helping us win against our competition, but we also anticipate many of our merchants who are using our platform solely for gift cards will want to explore adding loyalty into their business because of the convenience and interest for consumers through mobile. For a minimal increase of approximately 25% more than what our gift card and loyalty customers are paying us today, they will swiftly be able to deploy the mobile application and further grow their business. A win for our merchants, which is a win for Ackroo and our shareholders."
Ackroo also announces they have granted options to purchase 410,000 common shares to employees of the Company at a price of $0.235, for a period of 3 years. The grant is subject to the approval of the TSX Venture Exchange.
Ackroo provides gift card and loyalty processing solutions to help small to medium sized businesses 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
These forecasts and forward-looking statements 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.
SOURCE Ackroo Inc.
For further information: Steve Levely, Chief Executive Officer | Ackroo, Tel: 613-599-2396 x730, Email: [email protected]