AVENUE Selects ACI On Demand Solution
(New York, NY. – 05 February 2008) – ACI Worldwide (NASDAQ: ACIW), a leading international provider of software for electronic payment systems, today announced that AVENUE®, a distinguished brand in Redcats USA’s portfolio, and a specialty apparel retailer with over 480 stores, has selected an ACI On Demand solution to drive the switching and settlement of electronic payment transactions involving credit cards, debit cards, checks and gift cards. The solution will interface with the new AVENUE® front-end payment system and help the company comply with various Payment Card Industry (PCI) mandates.
“The breadth of ACI’s payments solutions and the potential impact of the hosted solution to our bottom line were key factors in our decision,” said Paul McFarren, senior vice president and chief information officer of AVENUE®. “The hosted solution environment will provide a low-risk, low-cost way to implement a new technology and ultimately differentiate our payments products and services.”
The on-demand solution will handle transaction processing for the AVENUE® stores and provide the necessary settlement information to card issuers. The solution offers all the advantages of an in-house switch without the associated support and maintenance costs.
“ACI On Demand offers AVENUE® and other customers greater control than traditional outsourcing arrangements by providing access to world-class software without the overhead of recruiting and training a staff responsible for in-house management, updating and monitoring of the solution,” said Jeff Hale, senior vice president of ACI Worldwide Americas. “We are proud to have been selected by AVENUE® and look forward to helping them streamline and improve their payments processing environment.”
About Redcats USA
Redcats USA is a multi-channel home shopping leader with numerous well-known brands in its portfolio: Chadwick’s®, metrostyle™, Woman Within®, Jessica London®, Roaman’s®, La Redoute® USA, KingSize®, BrylaneHome™, BrylaneHome Kitchen™, The Sportsman’s Guide®, The Golf Warehouse® and AVENUE® Stores. Redcats USA offers a wide range of value and quality driven merchandise categories, including missy apparel, men's and women's plus-size apparel, home and lifestyle products, and outdoor gear.
Redcats USA is a division of Redcats Group, a global leader in Home Shopping for apparel and home furnishing. Drawing on a multichannel network combining catalogues, e-commerce and stores, Redcats Group generated 4.33 billion euros of sales in 2006 with 17 brands in 28 countries and a staff of 20,000 associates. Sales are split between France (46.4%), USA (27.5%) and the rest of the world (26.1%). Redcats Group is a PPR Company. For any further information: www.redcats.com.
About ACI Worldwide
Every second of every day, ACI Worldwide solutions are at work processing electronic payments, managing risk, automating back office systems and providing application infrastructure services. ACI is a leading international provider of solutions for banking, retail and cross-industry systems. ACI serves more than 800 customers in 85 countries including many of the world's largest financial institutions, retailers and payment processors. Visit ACI Worldwide at www.aciworldwide.com.
Any statements in this press release regarding projected results are preliminary and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, this press release may contain other forward-looking statements including statements regarding ACI Worldwide Incorporated, its subsidiaries or third parties’ expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect. The forward-looking statements in this press release are subject to a variety of risks and uncertainties. Actual results could differ materially.
For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K filed on January 30, 2008, the Company’s Form 10-Q for the fiscal quarter ended December 31, 2006 filed on June 29, 2007, the Company’s Form 10-Q for the fiscal quarter ended March 31, 2007 filed on August 10, 2007 and the Company’s Form 10-Q for the fiscal quarter ended June 30, 2007 filed on September 20, 2007.
