News

Retail Logic develops interface with Givex

March 16, 2005

LONDON - Card-processing specialist Retail Logic is developing an interface between its core Solve/SE product and card-management company Givex, according to a news release. This will allow the introduction of new and enhanced products such as electronic gift cards, loyalty schemes, e-coupons and incentive programs. "We're very excited about the partnership with Retail Logic and the opportunities it will provide for merchants," said Philip Levy, director of 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 percent increase in sales over their paper-based programs." "Experience from North America shows that gift cards will quickly overtake paper vouchers," added 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."