OTTAWA, June 8th, 2016 /CNW/ - Ackroo Inc. (TSXV: AKR) (OTC: AKRFF) ("Ackroo" or the "Company"), a gift card, loyalty and rewards technology and services provider, and First Data Canada, a division of First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology and solutions, are pleased to announce that the two companies have partnered in order to offer Canadian merchants the opportunity to use Ackroo's gift card and rewards technology on First Data certified terminals, making it seamless for First Data Canada merchants to launch their own gift card and rewards programs.
"We are thrilled to expand our channel partnerships with the addition of First Data Canada" said Steve Levely, chief executive officer at Ackroo. "Our channel sales model relies on us working with selected partners like First Data Canada who are aligned with our vision and strategy. Partners see a bi-lateral relationship with us where both organizations actively develop and grow each other's customer base. First Data is one of the world's largest payment processors with a suggested 50% + market share in the US alone. Not only are we excited to help First Data grow their market share even further we are excited to expand Ackroo's addressable market by providing our growing merchant base even more options when it comes to integrating Ackroo at the point of sale. An exciting advancement for both organizations and a partnership that we expect will position the Company for even greater success."
"We are excited to be partnering with Ackroo, allowing our merchants the opportunity to expand their businesses in today's ever changing marketplace and more readily meet the needs of their customers," said Ben Edelstein, Director of Product Management at First Data Canada. "We look forward to working with the Ackroo team for many years to come. To help further grow their businesses, First Data Canada merchants can now easily incorporate gift and rewards programs into their new and existing terminals and solutions."
In addition, Ackroo has forfeited 265,000 existing incentive stock options at various strike prices and has granted options to purchase 830,000 common shares to officers, employees and consultants of the Company at a price of $0.20, for a period of 3 years. The grant is subject to the approval of the TSX Venture Exchange.
About First Data Canada
First Data Canada, a division of First Data Corporation (NYSE:FDC) makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in 118 countries around the world. The company's 24,000 owner-associates are dedicated to helping companies, from start-ups to the world's largest corporations, conduct commerce every day by securing and processing more than 2,500 transactions per second and $1.9 trillion per year. For more information, visit: www.firstdata.ca.
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]