Givex Partners with Retail Logic - Kickstart for UK Electronic Gift Cards

March 14, 2005 (LONDON): - Card processing specialist Retail Logic is developing an interface between its core Solve/SE product and Givex. This will allow the introduction of a wide selection of enhanced products including electronic gift cards, loyalty schemes, e-coupons and incentive programmes. The collaboration will allow retailers' eGift transactions to be routed through Retail Logic's card processing software to the Givex system for processing.

"We're very excited about the partnership with Retail Logic and the opportunities it will provide for merchants," says Philip Levy, Director, Givex UK. "There is an increasing demand from UK retailers for enhanced gift card and loyalty products. They are also calling for better fraud protection and operational control. This is just the right solution to satisfy all those demands. Givex customers typically experience a 60% increase in sales over their paper-based programmes."

Gift cards are only activated at the time of purchase, and the transactions are processed in real-time at the Point of Sale. This allows them to be widely displayed throughout the store and at the till without risk of theft. Each time a customer wishes to use the card, it is simply processed in the same way as other cards. Retail Logic's Solve/SE then forwards transaction details to Givex for authorisation.

"Experience from North America shows that gift cards will quickly overtake paper vouchers," adds Retail Logic Marketing Director Mark McMurtrie. "Gift cards represent the next stage of voucher evolution due to their strong customer appeal, branding opportunities and store loyalty. Due to their resemblance to a bank or loyalty card, consumer acceptance is rapid. The cards also benefit from a higher perceived value than paper vouchers or cash incentives, leading to improved customer loyalty and increased spending."

More than just a gift card, Givex provides merchants with the most comprehensive card-based solution in the marketplace today. Givex card programmes are customised to meet specific requirements and can be used at all merchant sales channels. Additional features include payment via website, balance enquiries, card protection or enrolment in a loyalty scheme. Givex's flexible approach to this technology allows the merchant to utilise cards across all aspects of their business including incentives for employees, managing returns or for promotional use. Time sensitive gift cards will drive traffic into their locations. All of these features are easily managed through real-time online reporting.

About Retail Logic:
The Retail Logic team has been providing payment-processing software for over 16 years. Covering any form of payment card and transaction environment, Retail Logic's software handles more than €145 billion a year. Investment in people and research and development, together with a clear focus on the needs of retailers, have led to award-winning products and UK market leadership. In Europe, partnerships with major companies such as Wincor-Nixdorf are key to the company's growth in its selected target markets. Internationally, Retail Logic trades under the banner of its parent company, The Logic Group.

About Givex Corporation
Givex is a card management company specialising in stored value and loyalty transaction processing for a wide range of industries including retail, hospitality, grocery, shopping centres and petroleum. Founded in 1999, Givex is among the fastest growing transaction processors worldwide. Givex is dedicated to providing customers with turnkey solutions that are flexible, reliable and built with complete security in mind.

Givex provides merchants with robust solutions for managing various card programs including gift cards, multi-merchant cards, coupons, e-gift certificates, prepaid/stored value cards, loyalty programs, payroll card programs as well as credit/debit card management services. Givex is a privately held corporation with operating offices in the United States, Canada, United Kingdom and Bahamas. For more information visit www.givex.com.

For further information contact:

United Kingdom:
Philip A. Levy Director, Givex UK.
t. +44 (0)870.066.4718
f. +44 (0)207.491.9922

North America:
Solina Bradshaw
Marketing & Communications Manager, Givex.
t. 416 350-9660 ext 265
f. 416 350-9661