UNIVERSAL EXPRESS PARTNERS WITH CARDAVENUE.COM
Universal Express Inc. (OTCBB: USXP), today announced its Universal Cash Express
division and Cardavenue formed a partnership, which will allow consumers to sell
or trade its "Send Roses" gift cards for free at Cardavenue.com. The partnership
is a result of growing demand in the secondary gift card market. As consumers
increasingly use online trading post Cardavenue.com, merchants are looking for
ways to use the service to improve their gift card products.
"We formed this partnership with Cardavenue to give our customers one more way
to use their gift cards," said Brett Hudson, president of Universal Cash
Express. We believe it only adds value to the customer experience."
The gift card can be redeemed for one dozen roses and a vase for same-day
delivery in the U.S. It is redeemable by calling a toll-free number, and now it
can be sold or traded for free at Cardavenue.com," stated Richard A. Altomare,
Chairman & CEO of Universal Express.
"This partnership is the first of its kind for the gift card industry," says Bob
Butler, founder and CEO of Cardavenue. "We're confident it will help encourage
even faster redemption rates for the 'Send Roses' gift card program."
Launched in October 2004, Cardavenue.com is the premier online marketplace for
buying, selling and trading pre-owned gift cards. The company was founded to
help retailers realize faster redemption rates and to help consumers turn unused
gift cards into cash or trade them for cards they'd prefer.
At Cardavenue.com, consumers can auction off unused gift cards for a transaction
fee of 6.25% of the winning bid, or trade gift cards outright with other users
for 6.25% of the card value. As part of the partnership with Universal Cash
Express these transaction fees, as well as the standard 50 cent posting fee,
will be waived for all customers posting the "Send Roses" gift cards for sale or
trade. A message informing "Send Roses" gift card recipients about this customer
service will be printed on the back of all of the cards.
"We're pleased with the impact Cardavenue has had on the gift card market for
retailers and consumers alike," says Butler. "Gift card marketers are
increasingly interested in the services we provide, from marketing opportunities
like this one to fraud protection agreements. We're continually looking for
creative ways to work with retailers and gift card vendors to improve the gift
card experience for their customers."
About Cardavenue
Cardavenue offers the premier online marketplace for gift cards. Cardavenue.com
makes it possible for consumers to buy, sell or trade gift cards. The site also
is designed to maximize redemption rates for retailers. Cardavenue enhances the
value of gift cards for consumers and will help businesses expand the gift card
market.
About Universal Express
Universal Express, Inc. owns and operates several subsidiaries including
Universal Express Capital Corp., (including its USXP Cash Express division)
Universal Express Logistics, Inc. (including Virtual Bellhop, LLC and Luggage
Express), UniversalPost Network and Universal Jet Aviation. These subsidiaries
and divisions provide the private postal industry and consumers with value-added
services and products, logistical services, equipment leasing, and
cost-effective delivery of goods worldwide.
Safe Harbor Statement under the Private securities Litigation Reform Act of
1995: The statements contained herein, which are not historical, are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements including, but not limited to, certain delays beyond
the Company's control with respect to market acceptance of new technologies,
products and services, delays in testing and evaluation of products and
services, and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission.
SOURCE: Universal Express, Inc.