TORONTO, ONTARIO--(Marketwired - Jan. 8, 2014) - GuestLogix Inc. (TSX:GXI), the leading global provider of onboard retail and payment technology solutions to airlines and the passenger travel industry, today announced that the Company's Global Payment Gateway has recovered more than 1 million USD in previously declined credit card revenues for its airline and rail customers. The Company's unique payment gateway network enables GuestLogix' customers to significantly reduce fraudulent and declined credit card payments by utilizing the industry's leading fraud prevention tactics, including floor and ceiling limits, blacklist usage, proprietary "Hot List", card resubmission and mixed online/offline authorization. Such measures ensure that airlines and rail operators, as well as industry partners in the in-flight entertainment sector, maximize revenue generation both on and off-board, which translates into increased revenue for all stakeholders.
"Our flexible and certified Global Payment Gateway has enabled a substantial recovery of declined revenues that would have otherwise been lost for our customers," said GuestLogix President & CEO, Brett Proud. "As we surpass the one million dollar recovery mark, we acknowledge the positive impact that our solutions have had on our customers' bottom lines. This is a tremendous accomplishment, which demonstrates the Company's ability to recover initially declined funds and prevent fraudulent transactions from occurring - more than any other provider."
By leveraging the most advanced technology with the largest network of global relationships and payment certifications, the Company's Global Payment Gateway has enabled GuestLogix' customers to mitigate instances of credit card declines resulting from fraudulent activity, as well as insufficient funds. GuestLogix ensures that its end-to-end payment services meet the most stringent PCI Compliance Guidelines, to best protect the Company's customers and their passengers. GuestLogix has supported travel operators around the world with comprehensive payment services for their global operations, enabling the acceptance of magnetic stripe, Chip & PIN, contactless credit cards and NFC payment methods, including mobile payments.
"GuestLogix strongly believes in protecting the interests and revenue of its customers, and in doing so, we have implemented a wealth of preventative tactics to safeguard our clients' operations," said Ilia Kostov, EVP Global Sales & Product Strategy, GuestLogix. "Program data indicates that actual recoveries have reached as high as sixty percent of the funds previously lost at some customers. Our Global Payment Gateway is a no-risk option that enables our customers to attain a high return on investment, while reducing the cost of doing business."
GuestLogix introduced its payment recovery services in March 2013. Since then, the Company has worked collaboratively with its customer base to reach this major recovery milestone, reiterating GuestLogix' leadership status in the onboard retail and payment technology industry.
GuestLogix Inc. (TSX:GXI), the leading global provider of onboard store technology and merchandising solutions, brings over a decade of expertise as a trusted onboard transaction processing partner to airlines, rail operators and the passenger travel industry. GuestLogix helps its customers to create, manage, and control onboard retail environments tailored to their needs and their passengers for a truly personalized experience. The Company is partnered with global leaders in catering, duty-free and inflight entertainment, offering complete onboard retailing services to airlines and rail operators worldwide. GuestLogix' global headquarters and centre for product innovation is located in Toronto, with regional head offices located in Dallas, London and Hong Kong. More information is available at www.guestlogix.com.
© 2014 GuestLogix. All Rights Reserved.
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on November 11, 2013 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.