|By Marketwired .||
|June 19, 2014 07:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/19/14 -- GuestLogix Inc. (TSX: GXI), the leading global provider of onboard retail and payment technology solutions to airlines, rail operators and the passenger travel industry, today announced its participation in the MultiPass consortium funded by the UK Government's Technology Strategy Board. The MultiPass consortium aims to develop a disruptive ticketing platform enabling multimodal "Pay As You Go" travel across the country using a single pass. The integrated MultiPass platform aims to provide travelers with the ability to travel throughout the UK by rail and urban public transport, automatically receiving the lowest fares to complete their travel journey. As part of this agreement, GuestLogix will leverage and configure its leading retail platform, Transaction Processing Engine® (TPE®), Global Payment Gateway and GuestPass ticketing solutions to work within the MultiPass environment. The Technology Strategy Board's decision to include GuestLogix in this consortium effort represents the Company's continued leadership position in the passenger travel industry across multiple travel verticals.
"It is with great pleasure that we participate in the development of a multimodal platform and ticketing solution that could very well transform passenger travel across both the UK and the rest of the world," said GuestLogix President & CEO, Brett Proud. "Our extensive industry knowledge and leading technologies will enable us to make significant contributions to the creation of a MultiPass setting. We are enthusiastic about the positive impact this project rollout will have on passenger travel, and believe that the UK will set a leading example for other countries across the globe."
GuestLogix' portfolio of solutions, including its Transaction Processing Engine® (TPE®) and Global Payment Gateway, are backed by 82 payment and operational certifications, making it the most trusted retailing transaction provider in the passenger travel industry. As such, GuestLogix has been selected to participate in a consortium effort to create a multimodal MultiPass environment, which will leverage aspects of the Company's leading retail platform, Transaction Processing Engine®, Global Payment Gateway and GuestPass ticketing solution. This agreement once again demonstrates the flexibility and versatility of GuestLogix' technology, and will further develop the Company's reputation in Europe and beyond, as well as expand its footprint across all travel verticals.
"Implementation of the MultiPass platform is meant to enhance the passenger travel journey across multiple modes of transportation, while also strengthening the revenue potential for operators and the country," said Alexander Peschkoff, CEO of TEDIPAY, the lead member of the consortium. "GuestLogix, a well-established market leader, brings immense knowledge and expertise to the table, having supported operators across several passenger travel verticals for well over a decade. We are very optimistic about the success of this project and are eager to move into the pilot stage in the near future."
The UK Government will be providing approx. USD$1.8M in funding to support the MultiPass project, and plans to run two pilot schemes during 2014, involving multimodal journeys around London and Glasgow. A full rollout of a MultiPass solution is anticipated for 2015, pending the success of the pilot programs.
"This is a very exciting project that could drastically alter the way passengers experience travel across the UK, and we are thrilled to be a part of this collaboration," said Thomas Drohan, SVP & GM, Global Rail Division, GuestLogix. "With a MultiPass environment in place, travelers will benefit from ease of travel, cost savings and increased efficiency, with no more queuing at ticket counters. Whether a trip involves rail, bus, subway or a combination of the above, the travel journey will become much less stressful and complex."
The UK's rail, bus and subway operators carry over 8 billion passengers per annum, presenting substantial opportunity for GuestLogix to gain market share in the region and increase its global footprint.
About Technology Strategy Board
The Technology Strategy Board is the UK's innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit http://www.innovateuk.org.
GuestLogix Inc. (TSX: GXI), is a global leader in comprehensive retail solutions delivered to the passenger travel industry, both onboard and off-board. Bringing over a decade of expertise as the industry's most trusted onboard transaction processing partner to airlines, rail operators and elsewhere in the passenger travel industry, GuestLogix powers the industry's growing reliance on ancillary revenue generation. Both direct to operators as well as through partnerships with global leaders in catering, duty-free, inflight entertainment and self-service retail experts, the Company provides the payment services touching over 1 billion travelling consumers each year. 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 May 12, 2014 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.
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