6th Nov 2006 07:01
Motivcom PLC06 November 2006 6 November 2006 Motivcom plc ("Motivcom" or "the Company") Motivcom launches Spree-flex Motivcom PLC (the "Company" or the "Group"), a leading marketing servicescompany providing incentive and motivation services to a range of UK andinternational clients, announces that its P&MM motivation division has launchedSpree-flex, the latest in a series of market leading employee benefitinitiatives. This follows the successful launch of the incentive Spree Cardconcept, which has already proved to be a market success with a number of highprofile British organisations currently implementing card based programmes. Spree-flex is the UK's first flexible benefit Prepaid Visa debit card. Itallows employers to offer staff major savings on shopping at leading high streetretailers using all the benefits of shopping with plastic and without all theinflexibilities of traditional flex voucher schemes. Companies can now have anew type of employee benefit option that will drive staff loyalty and retention,improve motivation, and support recruitment. Spree-flex offers employees the option to load funds onto their Prepaid Visadebit cards via a salary deduction scheme rather than having to specify and buypaper vouchers from different retailers. A key advantage of Spree-flex istherefore the low cost scalability of the electronic distribution compared tocurrent flex voucher programmes that involve lengthier administration steps,such as sending vouchers or merchandise. Spree-flex therefore provides a fast,simple and cost effective alternative to current flex voucher programmes.Furthermore, the cards can be branded to each company scheme to furtherreinforce the benefit every time the card is used. Employees are free to spend as much or as little as they wish, and benefit fromsavings, at any of the growing list of Spree-flex retail partners: Asda,Sainsbury, Argos, Currys digital, PC World, Mothercare, Warehouse, HMV,Principles, Homebase, Halfords, River Island, JJB Sports, Brewers Fayre,Beefeater, TGI Fridays, Marriott Hotels and Debenhams. However, Spree-flex isaccepted at any Visa-accepting merchant so funds can be used for other purposesif required, providing greatly enhanced flexibility. Significantly, strong growth is forecast in the Prepaid industry. It has beenauthoritatively estimated that by 2010 the number of prepaid cards in issue inEurope is expected to grow to about 375 million, whilst the total spend onEuropean prepaid cards is estimated to be €75 billion. John Sylvester, executive director of Motivcom plc responsible for P&MM'smotivation division, commented: "We recognise that there is significantopportunity in this industry, as these attractive growth rates are higher thanany other payment product or service currently in circulation. Motivcom'slaunch of Spree-flex demonstrates the Company's flexibility to align itsproducts and services with market trends and demand." "The success of the Spree concept has been well illustrated by the thousands ofemployees currently using and benefiting from the scheme in just a few shortmonths. Spree-flex is the logical progression that we have developed inresponse to demand from our existing flex voucher customers. We are proud tobring a product to market that so clearly meets customer needs and we are veryconfident that it will be a resounding success." -Ends- For further information:Motivcom plcSue Hocken Tel: +44 (0) 1908 608 [email protected] www.motivcom.com Media enquiries:AbchurchHeather Salmond/ Georgina Bonham Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to Editors: Motivcom plc is a business to employee marketing services agency providingexpertise in human capital management and incentives to major corporate clients.Motivcom's core business divisions include motivation and incentiveprogrammes, incentive travel and events, and sales promotion and employeebenefits. Motivcom's activities in each sub-sector are all underpinned by astrong focus on market research, product innovation, and both UK andinternational customer partnerships. The management team has been in place since 2002. It follows a strong organicand acquisitive growth strategy. Motivcom's organic growth is driven byinvestments in innovative products such as the recently launched Spree-visacard. Since 2002, the Company has acquired Archer Young Ltd, Summersault Ltdand The Voucher Shop, all of which have been successfully integrated into theCompany. Motivcom is constantly exploring new acquisition targets in existingand complementary areas to further strengthen the Company's position in thebusiness to employee space. Motivcom plc is based in Milton Keynes. It listed on the AiM market of theLondon Stock Exchange in August 2004 under the name P&MM Group Ltd. P&MM GroupLtd was re-branded Motivcom plc (AiM: MCM) in March 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MCM.L