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Companies Sign Exclusive ECA Agreement For Recently Announced Connected Payments Program
PLANO, Texas – Nov. 5, 2007 – StoreNext Retail Technologies LLC, a subsidiary of Retalix (Nasdaq: RTLX), and First Data Corp. have signed an agreement that enables independent grocers to access a variety of TeleCheck® Electronic Check Solutions via StoreNext’s recently-announced Connected Payments program. Under terms of the agreement, StoreNext will offer First Data’s TeleCheck Electronic Check Acceptance® (ECA®) integrated solution for supermarkets to all Connected Payments users in an exclusive check-processing arrangement. The TeleCheck ECA solution lets grocers convert paper checks into electronic transactions while incorporating authorization, settlement and collections through its TeleCheck ECA Warranty service. “We’re pleased to be selected by StoreNext as the exclusive Electronic Check Acceptance provider for its innovative Connected Payments program,” said Brett Narlinger, senior vice president of national sales for First Data Corp. “In today’s competitive supermarket environment, it’s more important than ever to provide choice and convenience at the point-of-sale. TeleCheck’s integrated ECA solution will allow independent grocers to more effectively meet the needs of customers who prefer to pay by check and reduce operational costs at the same time.” StoreNext’s Connected Payments is designed to help independent grocers cut electronic payments costs by up to 25 percent while eliminating up-front software license fees and maintenance charges. Grocers using credit-to-debit conversion and signature capture in addition to ECA should generate $10-$20 in savings overall for every dollar of Connected Payments subscription fees. The Connected Payments solution was created and is operated by StoreNext in partnership with payments software vendor MTXEPS, Inc. “Delivering First Data’s range of services over our powerful Connected Payments system gives thousands of our mutual customers the ideal means to attack transaction costs head-on,” said Ray Carlin, president and CEO of StoreNext. “Together, we bring these independents and regional chains the kind of capabilities and savings long sought by the largest retailers, and it once again proves our commitment to level the technology playing field.” The Connected Payments program includes all software capabilities for acceptance of credit, debit, check and gift cards, as well as interfaces to StoreNext’s ISS45 or ScanMaster point-of-sale (POS) systems. Connected Payments can be used in conjunction with StoreNext’s Connected Services software-as-a-service model, which provides independent grocers access to Internet-based enterprise applications via a low monthly subscription. About First Data Corporation First Data Corp. is a leading provider of electronic commerce and payment solutions for businesses worldwide. With operations in 38 countries, First Data serves over 5 million merchant locations, 1,900 card issuers and their customers. It powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; receivables management solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. For more information, visit www.firstdata.com. About StoreNext StoreNext Retail Technologies LLC is the No. 1 supplier of retail technology to independent grocers and regional chains. Based in Plano, Texas, StoreNext is a joint venture of Retalix Ltd. (NASDAQ: RTLX) and Fujitsu Transaction Solutions Inc. and markets Fujitsu POS hardware, Retalix’s ISS45 and ScanMaster POS software, Retalix Store and Retalix HQ, as well as Internet Connected Services for managing stores via Web-enabled applications. StoreNext is the IT company that’s dedicated to meeting the needs of this wholesaler-served market with packaged solutions that were previously available, affordable or practical only for large chains. Web site: www.storenext.com. Safe Harbor for Forward-Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements.Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements ofStoreNext to be materially different from any future results, performance or achievements or other guidance or outlooks expressed or implied by such forward-looking statements, including without limitation statements about the expected benefits from, and appeal of, Connected Payments. Readers are referred to the reports and documents filed by Retalix with the Securities and Exchange Commission, including Retalix’s Annual Report on Form 20-F for the year ended December 31, 2006, for a discussion of important risk factors. Except as required by Applicable law, Retalixand StoreNext undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events. # # # |
