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.
About Ackroo
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.
