MULTePAY Partners To Take New Lead In Value-Added Applications

Wednesday 21 April 2004 00:38 CET | News

UK Based MULTePAY Limited has entered into two new long-term partnerships that will deliver revenue-boosting applications to retailers, and which position MULTePAY as the leading multi-application provider in the UK electronic payment services market.

The partnership with loyalty scheme provider, Intersolve, and specialist finance company, Equivat, will deliver new opportunities to MULTePAYs independent retailer customers, who are already profiting from the highest margins available on products such as prepaid mobile phone top-up. By combining payment and value-added services on one Chip and PIN-compliant terminal, MULTePAY can also demonstrate significant cost savings and increased profit margin to retail groups. Using the MULTePAY terminal, a small chain – up to 30 to 40 stores – can earn an estimated £25K extra profit per annum, while a medium chain of circa 200 stores can earn over £40K extra profit a year. The new Loyalty in a Box solution from Intersolve offers retailers an affordable, fully scaleable loyalty solution that can be managed through a dedicated Internet site. Easy to set up and fully integrated with the MULTePAY terminal, Loyalty in a Box enables small retailers to introduce cost-effective reward schemes, allowing customers to collect points which can be exchanged for gifts or discounts. In a second key partnership, MULTePAY has teamed with London-based Equivat to develop a new system that helps retailers refund VAT to non-EU shoppers visiting the UK. The software application, developed by MULTePAY, automatically generates the appropriate documentation and calculates the VAT refund due, allowing retailers to take advantage of the direct reclaim method, saving administration time and eliminating potential cashflow issues. The secure terminal-based system replaces a manual procedure where hand-written forms had to be completed by both retailer and customer. The system can also detect overseas credit cards and will prompt to offer a VAT refund to eligible shoppers. Equivat currently has MULTePAY terminals piloted at Travelex outlets in all four terminals at London’s Heathrow airport, enabling travellers to collect their cash refund before flying home. The MULTePAY Direct terminal is available to all independent retailers without the need to fill out application forms or enter into a contract. Together with the wide range of pre-pay products on the terminal and that it is credit card approved for Barclaycard, Alliance and Leicester, American Express and Diners, the MULTePAY terminal is positioned to be the most complete electronic payment solution for the independent retailer on the market. The MULTePAY solution is available through cash & carry outlets throughout the UK, including Makro, Batley’s, Blakemores, United, Sher Bros and JW Grays.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce