October 29, 2003
Moneris Solutions to acquire loyalty program specialist
Ernex
Canada's largest payment processor extends loyalty program
and gift card offering for merchants
Chicago, IL and Toronto, ON - October 29, 2003 - Moneris Solutions Corporation, one of North America's largest electronic transaction processors, today announced that it has agreed to acquire Ernex from RBC Financial Group. Terms of the deal were not disclosed.
 Ernex Loyalty Database HostingLoyalty Database Hosting is a complete real-time points management solution for loyalty program or member-based loyalty databases.More information about our database marketing solutions. |
Ernex is a North American industry leader in privately branded loyalty programs, stored-value gift cards and real-time electronic database marketing solutions company for merchants. In addition, Ernex works with brand name clients across North America implementing multi-merchant loyalty programs, reward fulfillment services and loyalty database hosting services.
"As a valued Moneris partner for the past three years, we've had the pleasure of watching Ernex evolve to become a leader in this fast growing field," says Jim Baumgartner, President and CEO, Moneris. "Our decision to acquire Ernex was based on the demand from merchants for this suite of products, our recognition of the value offered by the depth of Ernex's expertise and the strength of their talented staff. This acquisition is a good example of Moneris' overall growth strategy."
Under Moneris ownership, Ernex will continue to offer its leading edge electronic marketing solutions to businesses in a variety of industries in North America. In addition, combining this expertise with a world-class payment solution will provide outstanding, value-added benefits to current and future Moneris merchants.
"With its established merchant base, Moneris will be able to provide opportunities that will allow Ernex to realize its potential as loyalty marketing and stored-value gift card specialists," said Brad Lambert, RBC Senior Vice-President. "Moneris is a solid strategic fit for this business and its employees, and RBC will continue using Ernex expertise for its market-leading Avion and RBC Reward programs."
The popularity of stored-value (or electronic) gift cards and loyalty programs is quickly growing with consumers and these products are opening new marketing and revenue opportunities for merchants. Research collected by Moneris as part of its inaugural Report to Merchants (Spring 2003), found that 46 per cent of Canadians reported having used a gift card and 24 per cent have not yet purchased one but would consider it. Increasingly, merchants view gift cards as a means of generating incremental revenue.
"Ernex's established customer base across North America and strong history of creatively using technology to manage and respond to customer transaction information make them a formidable partner," continues Baumgartner. "As one of North America's largest payment processors, Moneris is committed to providing high-value innovative payment solutions; this acquisition further reinforces our mandate and brings additional value and benefits to our merchants."
Ernex's loyalty programs offer unparalleled flexibility and real-time communications and marketing. For merchants, this translates into the ability to:
- Identify the shopping habits of their customers;
- Develop customized marketing programs for these customers, based on information collected though a loyalty program offering; and
- Award and redeem points at the point-of-sale - convenience for customers and savings for the merchant
"We're pleased our long-standing partnership with Moneris has been taken to the next level," says Malcolm Fowler, Executive Vice President, Products and Marketing, Ernex . "As part of the Moneris family, we not only have the opportunity to continue serving our existing clients, but also have the exciting prospect of being able to implement leading-edge customer loyalty solutions within Moneris' customer base. Our technology allows businesses to dynamically interact with customers and build profitable customer relationships."
Moneris provides a one-stop processing solution for payment card acceptance (credit, debit and loyalty cards) and point-of-sale technology. This year Moneris expects to process approximately 1.8 billion card transactions.
About Moneris Solutions Corporation
Moneris Solutions has a 30-year history as one of North America's largest electronic transaction processors, offering
unique card transaction and payment services for virtually every industry segment that accepts credit and/or debit
card payments from its customers. Moneris delivers advanced payment card processing capabilities through point-of-sale
hardware, payment processing software, e-commerce solutions and a gift and loyalty program. The company also
provides transaction-processing services through numerous agent banks and serves the small to medium-sized business
market through direct sales and strategic partnerships. Established in 2000 as a joint investment between the Royal Bank
of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris serves more than 350,000 North
American merchant locations and has a staff of over 1,100 employees. The company has headquarters in Toronto,
Ontario and outside of Chicago, IL.
For more information, please visit
Canadian Site ·
www.moneris.com | US Site ·
www.monerischargeit.com.
About Ernex
Ernex is a database marketing company
with innovative real-time marketing solutions for merchants, bankcard issuers
and large membership organizations. Ernex delivers real-time electronic marketing solutions to a variety of industries, including
loyalty database hosting solutions, coalition marketing capabilities, real-time points loyalty programs, Swipe 'N Win sweepstakes
programs, custom coupons messaging capabilities and stored-value gift card programs. For more information, contact Ernex at
877-GO-Ernex or visit www.ernex.com.
About RBC Financial Group
Royal Bank of Canada (TSX, NYSE: RY) uses the initials RBC as a prefix for its businesses and operating subsidiaries, which
operate under the master brand name of RBC Financial Group. Royal Bank of Canada is Canada's largest financial institution
as measured by market capitalization and assets, and is one of North America's leading diversified financial services
companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment
banking, and transaction processing services on a global basis. The company employs 60,000 people who serve more than
12 million personal, business and public sector clients through offices in North America and some 30 countries around the
world. For more information, please visit www.rbc.com.
###
For more information, please contact:
|
Kevin Tait Moneris Solutions 416-734-1135 kevin.tait@moneris.com |
Matt Cram / Julie Lavoie Environics Communications / Capital-Image 416-969-2726/ 514-739-1188 ext 29 mcram@environicspr.com / jlavoie@capitalimage.qc.ca |
Marketing & Public Relations Manager
Ernex
604-415-1500
pr@ernex.com
Beja Rodeck
RBC Financial Group
416-974-5506
beja.rodeck@rbc.com
| Printable Version |  |
Request More Information |  |
