17th Mar 2005 07:00
Datacash Group PLC17 March 2005 DataCash Group Plc: DATA / Index: AIM / Sector: Support Services 17 March 2005 DATACASH GROUP PLC ('DataCash' or 'the Company') PARTNERSHIP AGREEMENTS DataCash Group Plc, the AIM listed payments service provider, has entered intofour new partnerships that will expand the reach of its services and strengthenits position as a market leader in the UK for outsourced payment processing.These partnerships have been formed with major companies who have a significantpresence in retail markets as hardware suppliers, integrators or point of salesuppliers. The agreements with four major firms where DataCash's technology assists inspeeding up transactions and curtailing fraud comprise: Multicom Products Ltd,an eCommerce marketplace servicing travel customers; Smart Voucher, the UK'sleading supplier of online real time vouchers; TriRidium, a company whichhandles payment card disputes with retailers; and Andromeda, a leading supplierof EPOS (electronic point of sale) solutions. DataCash CEO Terry Cave said: "We continue to make strong progress in securinga broad range of partnership agreements with retail orientated companies withblue chip clients. We are committed to forming these alliances with majorplayers to offer alternative cost effective payment processing solutions whichincreases our market reach, improves our competitive edge and boosts ourrevenue. "These companies have specifically chosen DataCash as we focus on our corestrengths as an outsourced payment processing service. We don't manufacture,specify or procure hardware and therefore do not represent a threat to them,merely a means of adding value to their own businesses through having theability to offer premium integrated services." The four new agreements are highlighted below: TriRidium: TriRidium was set up to devise a solution for retailers facing unnecessarypayment card chargebacks and write-offs. Customers include Argos, Woolworths,and Homebase. DataCash has entered into a partnership with TriRidium offeringits TransTrack support and fraud protection system. In the past retailers havebeen forced to enter into lengthy correspondence in the event of suspectedfraud. The TransTrack system reduces the time from weeks to minutes. Nigel Eades, Managing Director of TriRidium said: "Our aim is to provideDataCash customers with an additional service that protects their business andalso saves them time and money. DataCash has an excellent reputation forinvesting in its customers to provide them with the very best support andTransTrack is another string to their bow." Andromeda: DataCash has joined forces with Andromeda, the UK's leading supplier of deliveryEPOS systems for restaurants and take-way operators, providing a high speed cardauthorisation delivery and counter service. The target market is around 5,000delivery outlets, 22,000 counter service outlets in the fast food and coffeeshop sectors, and 41,000 bars and pubs. Ben Portsmouth, co-founder and director of Andromeda, said: "This year we areintroducing counter service and restaurant systems which will offer similarbenefits to those of quick service outlets. By teaming up with DataCash we canprocess card transactions as quickly as cash which is important for customersdemanding prompt service." Multicom Products: DataCash has won a new contract to supply a fully outsourced internet paymentsprocessing system to Multicom Products Ltd ('Multicom'). Multicom bringstogether travel data such as charters, low cost and scheduled flights, and hoteland hire car availability. It currently services 46 customers including GoingPlaces, Thomas Cook and Virgin Travel Store, but this is expected to increase tomore than 80. Multicom Managing Director Robert Howell said: "Our own payment gateway servedus well but it made sense for several reasons to outsource this aspect toDataCash. It was partly a financial decision but as well as this we wereparticularly interested in the very high levels of resilience and reliability intheir service which is of paramount importance to our customers." Smart Voucher: DataCash has teamed up with Smart Voucher, the UK's leading supplier of onlinegift vouchers, to handle all its electronic processing. The online gift vouchermarket is currently worth around £1.35 billion and growing at nearly 10% a year. Essentially, someone planning to buy a present can buy a retailer's giftvoucher online and email it to the recipient. Vouchers can even be bought in abetting shop and put into a Smart Voucher account enabling the holder to placebets online. Promotional vouchers can also be used by shops, rewarding loyalcustomers, stimulating buying among infrequent shoppers, boosting sales duringquiet periods, and helping to point customers in the direction of new productsand services. ** ENDS * * Contacts: Terry Cave DataCash Tel: 0870 7274760 Isabel Crossley St Brides Tel: 020 7242 4477 Note to editors: • DataCash provides secure electronic payment and fraud management solutions to companies that process orders for goods and services over the Internet, call centres, interactive TV or from high street point of sale. • DataCash's payment solutions allow merchants to accept a wide range of payment options, from credit cards and direct debits, to emerging payment types. • DataCash's reporting and management tools help automate the flow of complex payment processes, such as recurring billing, chargeback workflow and payment reconciliation. • DataCash partners with and connects to an ever-expanding network of payment processors and payment service providers to offer merchants a single source solution. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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