Trintech’s ReconNET Confirms Industry Leadership in Restaurant Sector with Four New Customers Signed
ReconNET Secures Leadership Position in Restaurant Industry with Total of 35 Major Chains Utilizing Powerful Deposit Verification and Credit Card Reconciliation Solution
San Mateo, CA / Dublin, Ireland - 5th March 2002 - Trintech Group Plc (NASDAQ: TTPA: Neuer Markt: TTP), a global provider of secure electronic payment infrastructure solutions, today announced that four major restaurant chains in the U.S. have selected PayWare ReconNET, the company’s industry-leading deposit verification and credit card reconciliation solution. The four companies, Carlson Restaurants Worldwide, Panera Bread Company, Boddie-Noell Enterprises, and Braum’s Ice Cream, bring the total of ReconNET customers in the restaurant sector to 35. This provides further evidence that ReconNet is becoming the industry standard for reconciliation solutions in the chain restaurant market.
Combined, the four restaurant companies have an annual revenue of approximately $3.5 billion and include well-known international restaurant brands such as TGI Friday’s and Hardees. According to studies conducted by Trintech, the deployment of ReconNET should allow these companies to reduce their costs and improve operational efficiencies, thus boosting operating results. ReconNET 6.0 includes accelerated search and interactive reconciliation capabilities and a number of enhanced features such as bank-to-book reporting improvements, advanced fiscal calendar capability, improved ease-of-use and enhanced administrative tools.
"We are very pleased to have chosen ReconNET to manage all of our deposit verification and credit card resolution requirements," said Matt Helm, Director of Treasury Operations at Carlson Restaurants Worldwide. "We are confident that ReconNet will help us with our goals of maximizing technology to accelerate productivity, minimizing exposure to exceptions and unexpected shortages, and improving cash management processes."
"The signing of these world-class restaurant groups is confirmation of ReconNET’s leadership in this important sector," said Tom DeLany, Director of Product Management in the Funds Management Systems Division at Trintech. "The 35 restaurant groups utilizing ReconNET have already achieved significant benefits from utilizing the solution’s unique automated reconciliation technology and we believe ReconNET is becoming the industry-standard in the restaurant sector."
About ReconNET
ReconNET, part of Trintech’s PayWare suite of products, provides business-to-business enterprise reconciliation and treasury platforms that streamline the management of cash deposits, credit card payments and disbursements. ReconNET is currently in use by over 275 of the largest merchants, financial institutions, insurance companies, telco's and multi-national corporations in North America and Europe.
ReconNET 6.0’s powerful new feature set provides companies with significant productivity improvements and enables them to tighten cash controls, reduce bank fees, decrease idle balances and effectively communicate positions with their various bank and field locations. ReconNET 6.0 also integrates seamlessly with existing IT environments and can automate reconciliation for debit cards, credit cards, gift cards, and disbursements, while providing easy-to-use research and resolution tools for outstanding items.
Among the more than 275 leading organizations using ReconNET are such well-known companies as Target Corporation, Eddie Bauer, The Limited, Radio Shack, Foot Locker, Best Buy, Hallmark Cards, Verizon Wireless, Sprint PCS, Kroger, AMC Theaters, Budget Rent a Car, Outback Steakhouse, Burger King, Wendy's, and many others.
For additional information about the ReconNET solution, contact Trintech at 15851 Dallas Parkway, Suite 940, Addison, TX 75001 (Tel: 972-701-9802) or on the Internet at www.trintech.com/ReconNET.
About Trintech
Founded in 1987, Trintech is a leading provider of secure electronic payment infrastructure solutions for card-based transactions for physical world commerce, eCommerce and mobile commerce. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully SSL and SET™ compliant. Trintech’s range of scalable open systems architecture solutions for UNIX® and Windows NT™ platforms covers consumer, merchant and financial institution requirements for physical payments and the emerging world of electronic commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403 (Tel: 650-227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at www.trintech.com.
Media Contacts:
Laura L. Sellers
Vice President, Marketing – eFMS Division
Trintech, Inc.
15851 Dallas Parkway, Suite 855
Addison, TX 75081
Tel: 972.739.1623
Fax: 972.701.9337
email: laura.sellers@trintech.com
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