Tom Rittman, Director of Mktg.
Cleveland, Ohio – September 17, 2002 -- Datavantage Corporation, a leading developer of retail point-of-service systems and business intelligence technology, and Praxell, Inc., developer of an IP-based transaction platform for stored value solutions, today announced the execution of a strategic partnership whereby Datavantage will offer a complete, branded stored value card solution. Under the terms of the partnership, Datavantage is the exclusive provider of Praxell’s stored value card and loyalty/incentive program solutions to the retail marketplace in the United States, Canada, and Mexico. Praxell will continue to provide their existing services throughout the rest of the world, and will continue to offer their technology within North America to industries other than retail.
“Our clients and prospects are asking for new, exciting solutions to reach their consumers, and the demand for all forms of stored value programs – including gift cards, credits, loyalty programs, and promotions – has never been greater,” said Chaz Napoli, president of Datavantage. “While we already integrate with many third-party gift card providers, we felt we could deliver better service to our clients by branding our own stored value application. In leveraging Datavantage’s retail penetration and the maturity of Praxell’s product we will offer a more complete solution.”
Today, retailers want to offer dynamic gift card and loyalty programs to their consumers for use in all shopping channels (store, catalog, Internet, or a combination thereof). The integration of Datavantage’s point-of-sale systems with Praxell’s IP-based transaction processing services provides a seamless, flexible solution for retailers. Therefore, Datavantage will immediately begin offering an ASP based, stored value product under its own brand. In the future, Datavantage will also offer an in-house processing version of the same stored value capabilities for those retailers who prefer an internal option vs. an ASP model.
Moshe Golomb, president of Praxell, states, “This partnership represents the strongest path yet for Praxell to bring its mature products to the North American marketplace. While working with Datavantage to assure success for the product offerings, Praxell will continue to broaden its worldwide marketplace and non-retail opportunities. ”
Praxell, Inc. has developed a secure, IP based transaction platform, ideal for private label, stored value solutions and loyalty/incentive programs. Located in the heart of New York City`s Midtown, Praxell commenced operations in September 1998. Praxell operates on three continents, with R&D; facilities headquartered in Israel and a data center located in New Jersey. Further information on the company, products, and services may be found at www.praxell.com.
Datavantage Corporation is a retail technology management company that helps retailers gain a better competitive advantage in multi-channel marketing, streamlined operations, reduced shrink, and increased productivity. Headquartered in Cleveland, Ohio, the company serves retail chains of all types, nationwide and worldwide. Further information on the company, products, and services may be found at www.datavantage.com.