Sign In

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.


Logic Group Teams With OPT
Accelerating UK take-up of eGift

Fleet, Hampshire, 1st August 2005: The Logic Group is working with Open Payment Technologies, Ltd (OPT) to bring new payment technologies to market. The company is developing an interface between the Logic Group's core Solve/SE product and OPT's Opticard® gift card service. The new interface will be in place well before the demanding Christmas spending period. The collaboration will benefit retailers by reducing implementation timescales by months.

'We're delighted to be teaming up with OPT,' says Mark McMurtrie, Logic Group Marketing Director. 'eGift is really taking off in the UK and two industry leaders working together can only be a good thing for both retailers and consumers and accelerate UK adoption.'

OPT, a subsidiary of Magex Holdings Ltd, is an experienced provider of gift card services accessed through industry-standard POS solutions such as Solve/SE. The Opticard gift and loyalty solution - currently used by hundreds of retailers in the US and the UK - will give customers of The Logic Group a robust, high performance solution that will quickly grow gift revenues.

'The Opticard service was designed with the input of retailers every step of the way,' said Dave Ingwersen, President of OPT. 'Working with the Logic Group to integrate our systems will simplify the task of adding eGift services for large retailers by minimising the upheaval of installing new, standalone technology. They will now be able to accept these new cards using their existing tills and software.'

Key benefits of the Opticard gift card service working with Solve/SE include:

Increased sales – more repeat business, and impulse purchasing
Reduce the fraud of paper vouchers – tight controls over the use and spending of the cards with real-time triggers to spot any irregularities
Daily reporting on all transactions – the retailer has visibility into how the cards are being used, and can use the data to improve sales
Fast implementation on current systems and hardware – minimal changes required to a retailer's POS system
Automated reconciliation and settlement – provides consolidated reports on all transactions regardless of card type
Retailers don't have to give cash back – since the balance is always kept on the gift card, no cash is refunded for unspent amounts
Expand corporate sales - rapid activation of 1 to 1000 gift cards in seconds
Higher turnover of gift card sales – the use of gift cards lets retailers produce stylised cards and promotional materials that will boost sales
Thanks to the integration of OPT and Logic Group software, electronic gift cards can be processed in exactly the same way as normal card transactions without the need for new systems. Users will be able to activate gift cards, top up funds and carry out balance enquiries in-store, both quickly and easily.

About the Logic Group

The Logic Group manages information and transactions securely for large and medium sized businesses across its European home market. The company delivers unrivalled business value to its customers through the secure provision of card transaction processing and communications infrastructure services, together with delivering comprehensive management information and customer insight.

The group has won a number of major awards including the 2005 Queen’s Award for Enterprise for the central role it played in the UK roll-out of EMV Chip & PIN.

About OPT

Open Payment Technologies Ltd is a subsidiary of Magex Holdings Limited, headquartered in London, UK, and a sister company of Open Payment Technologies Inc., which is located in Phoenix, Arizona. OPT Inc has been in business since 1995. OPT has supplied the Opticard stored-value card service to hundreds of retailers over the last 10 years, and processed over 70 million gift card transactions during this same period. The OPT team are specialists in the field of gift and loyalty card programs. OPT Ltd is now offering a new vers

Publisher Contact Information:

The Logic Group
+44 (0) 1252 776 755

Company profile of The Logic Group
Past press releases of The Logic Group.


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

Nov 25€24.0MInternet commerce
May 30€15.0MBiopharmaceuticals
May 28€15.0MDiagnostics
May 28€1.3MInternet services
May 25€1.0MOther Software
May 22N/AInternet services
May 20€4.3MArtificial Intelligence

For information on Europe's most extensive database on technology funding click here!


Press Releases

May 28
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
nethone raised over $1 million from innovation nest

Mar 31
the fit allocates chf 100'000 to comppair technologies

Jan 29
yumpingo raises $10m to transform guest experiences in restaurants

Oct 1
The Link App
the link app launches version 2.0

About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.