TORONTO and HALIFAX, March 12, 2019 /CNW/ - Globalive Technology Inc. (TSX-V: LIVE) (the "Company"), a technology company focused on developing innovative payment, billing and credit solutions for consumers and businesses, today announced that the Company's partner Flexiti Financial ("Flexiti"), a leading point-of-sale consumer financing solutions provider for retailers, has signed Charm Diamond Centres and its sister retail chains, Ben Moss Jewellers and Crescent Gold & Diamonds, to a long-term agreement to implement its point-of-sale financing technology. Flexiti's solution provides customers with quick and easy access to revolving credit and flexible payment options, including 0% financing, that increase affordability and improve the shopping experience both in-store and online.
"Providing excellent customer service and the best price is key to winning customers for life. Integrating Flexiti's innovative consumer financing platform helps us deliver our luxury products with affordable payment options for all budget sizes," said Troy Calder, President of Charm Diamond Centres.
With Flexiti's mobile, automated and 100% paperless application process, customers can now secure in minutes a private label credit card that provides them with low interest and longer-term payment plans than traditional credit cards. The FlexitiCard is usable at nearly 4,000 retail locations across Canada within the Flexiti network and eliminates the need for customers to reapply for financing with every purchase.
Flexiti's omni-channel financing solution is a proven sales driver, with retailers in all verticals experiencing a 200% to 380% rise in financed sales volumes after migrating from previous financing platforms. Flexiti's simple and efficient application process becomes a valuable sales tool for retail staff that increases average purchase sizes, builds brand loyalty and encourages repeat store visits.
"Focusing on the customer has never been more important than it is in today's highly-competitive retail environment," said Peter Kalen, Founder and CEO of Flexiti. "Our award-winning technology offers retailers a convenient and easily scalable way of building customer loyalty and getting sales across the finish line."
Flexiti and the Company are parties to a technology development agreement and the Company is a shareholder of Flexiti.
"Flexiti's technology enables a seamless payment process that puts customer preferences at the forefront of the transaction," said Anthony Lacavera, Chief Executive Officer of Globalive Technology. "We believe Flexiti's innovative platform will continue to experience significant growth as more retailers recognize the importance of this customer-centric approach in driving repeat business."
About Globalive Technology Inc.
Globalive Technology is a next generation software company and venture partner developing innovative solutions to disrupt traditional industries by leveraging artificial intelligence and machine learning technology stacks, with a particular focus on delivering innovative payment, billing and credit solutions. Globalive Technology is controlled by Globalive Capital Inc. which has founded and co-founded 12 businesses over the past 20 years with six successful exits ranging from $10M to $1.3B USD. It has also made over 100 venture investments and has over 45 technology companies in its portfolio. For more information, visit www.globalivetech.com.
About Charm Diamond Centres
Charm Diamond Centres is the largest independently owned Canadian jewellery retailer with more than 80 stores and 800 employees coast to coast. For more than 45 years, Charm Diamond Centres has helped Canadians celebrate and commemorate all of life's biggest moments. The chains offer several stunning lines of diamonds including Glacier Fire Canadian Diamonds, My Diamond Story Canadian Diamonds, LeVian, Enchanted by Disney and its Signature Collection, Charmed by Richard Calder, the company's founder. For more information, please visit www.charmdiamondcentres.com.
Flexiti has reimagined point-of-sale (POS) consumer financing to drive sales for retailers in-store and online and is one of Canada's leading private label credit card issuers. Through its award-winning platform, Flexiti delivers a POS financing experience across any device that is customer-centric, simple and intuitive. Without the need to integrate into existing POS systems, retail partners can easily offer the same fast and paperless financing solution across all retail locations and sales channels to increase revenue and build loyalty through repeat purchases. Flexiti's joint venture with Globalive Technology demonstrates its commitment to innovation in the payments space through the development of solutions leveraging artificial intelligence. With high approval rates, innovative products and services, flexible promotional offers and a partnership-first approach, Flexiti is helping people improve their lives through better financing. For more information, visit www.flexiti.com.
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements relating to the use of Flexiti's product by Charm Diamond Centres and its subsidiaries Ben Moss Jewellers and Crescent Gold & Diamonds to provide services to its customers, Flexiti's product assisting Charm Diamond Centres and its subsidiaries in eliminating the need for customers to reapply for financing towards future purchases, driving loyalty and repeat sales, and Flexiti's product building customer loyalty, driving sales online and expanding Charm Diamond Centres' customer base. Such forward-looking statements are identified by terms such as "will" and similar expressions. All statements, other than statements of historical fact included in this release, including those noted above, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from expectations include an inability for Charm Diamond Centres and its subsidiaries to integrate Flexiti's product or its customers desire to use such product, other matters that could affect Charm Diamond Centres' ability to further customer service including difficulties or delays in using Flexiti's product.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Globalive Technology, Flexiti and Charm Diamond Centres and its subsidiaries. There can be no guarantee that any of the forward-looking statements contained in this press release will occur as disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information.
Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Globalive Technology