New Payment Option Brings Choice and Accessibility to Online Ticketing
CALGARY, ALBERTA, May 10, 2007 -- RepeatSeat Ltd. (TSX VENTURE:RPS) ("RepeatSeat"), a North American leader in providing entertainment solutions is pleased to announce they have a signed contract to offer Interac Online with Chase Paymentech Solutions, a leading payment service provider. Interac Online will allow consumers to pay for tickets and services on the Internet using their debit card, directly from their bank account.
RepeatSeat continues to deliver on consumer demand for online ticketing solutions including secure payment options. Canadians already rely on the convenience and security of debit for everyday payments; now with Interac Online, they can benefit from the same experience on the Internet. RepeatSeat will be the first to bring this service to the online ticketing industry.
RepeatSeat has completed the certification process required by Chase Paymentech and have scheduled roll out of this payment option to customers over the next couple of months. It will be launched first in association with Cineplex Entertainment LP's theatres (Cineplex Odeon, Famous Players and Galaxy), which utilize RepeatSeat's private label on-line ticketing solution.
"We have been experiencing tremendous growth in our online movie ticket sales and bringing the option of debit payment online was the logical next step for RepeatSeat, in our constant effort to meet the needs of our customers. Canadians already use their debit card as the primary payment choice for more than 60% of purchases, and we are scheduled to launch Interac Online by the end of May to support this choice online" stated RepeatSeat President and CEO George Davidson. "The movie going public's core demographic is 18-24 year olds and this added payment option will increase accessibility to our online ticket services and I know it will add to our customer's online ticket buying experience."
Benefits of this payment option for RepeatSeat are numerous, the financial institution authenticates the consumer and ensures funds are available in their account; if approved by the financial institution, the merchant has a payment guarantee that cannot be charged back and there are no authentication costs. Interac Online attracts new customers: consumers concerned with sharing financial information online, consumers unable to obtain credit (e.g. youth) and consumers looking for new, innovative payment alternatives. It also leverages current online banking, payment processes and communication networks.
RepeatSeat believes that these many benefits will not only improve the online experience for current customers but draw new customers and grow revenue as a result of the greater accessibility this new payment method provides.
About RepeatSeat:
RepeatSeat Ltd. is a leading interactive entertainment services company, offering private label ticketing throughout North America. RepeatSeat's innovative Ticket Relationship Management (TRM(TM)) solutions provide a proprietary portfolio of products to sporting and live event venues, tour and excursion companies, ski hills and the vast majority of Canada's movie theatres. All solutions feature full end-user data capture and management. For more information on RepeatSeat, visit www.repeatseat.com.
For RepeatSeat investor relations needs, investors are asked to visit the RepeatSeat Investor Relations website at www.agoracom.com/ir/repeatseat where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to rps@agoracom.comwhere they can also request their addition to the investor e-mail list to receive all future press releases and updates in real time.
About Chase Paymentech:
In Canada, Chase Paymentech Solutions is headquartered in Toronto, Ontario and is an affiliate of Chase Paymentech Solutions, LLC. As a leading payment services provider and a single source for debit and all major credit cards, the company offers a full suite of advanced payment solutions, including point-of-sale and wireless terminals, electronic gift card programs and secure e-commerce capabilities. Learn more at www.chasepaymentech.ca.
Chase Paymentech Solutions LLC, headquartered in Dallas, is the world's largest merchant acquirer. The privately-held company is an end-to-end processor for merchants of all sizes and industries. The company processed approximately 18.2 billion transactions in 2006, with more than $660.6 billion in annual bankcard and debit volume. Chase Paymentech's customer base reflects the most respected brands in the world and represents more than 600,000 merchants in nearly one million locations across Canada, the United States and around the world.
About Cineplex Entertainment LP:
Headquartered in Toronto, Canada, Cineplex Entertainment LP owns, leases or has a joint-venture interest in 128 theatres with 1,290 screens serving approximately 60 million guests annually. Cineplex Entertainment LP is the largest motion picture exhibitor in Canada operating theatres with the following brands: Cineplex Odeon, Galaxy and Famous Players (including Coliseum, Colossus and SilverCity) and Scotiabank Theatre Toronto. The units of Cineplex Galaxy Income Fund, which owns approximately 75.7% of Cineplex Entertainment LP, are traded on the Toronto Stock Exchange (symbol CGX.UN). For more information, visit us at www.cineplex.com.
Advisory Regarding Forward-Looking Statements:
Certain information with respect to the Company contained herein contain forward-looking statements. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including, but not limited to, the impact of general economic conditions, industry conditions, stock market volatility and ability to access sufficient financing. As a result, the Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur. In addition, the reader is cautioned that historical results are not necessarily indicative of future performance.
Contact:
RepeatSeat Ltd.
Bob Christians
on
Executive Vice President
(403) 716-2276
Email: bchristian
son@repeat
seat.com
Website: www.repeat
seat.com
AGORACOM Investor Relations
Email: RPS@Agorac
om.com
Website: www.agorac
om.com/IR/
RepeatSeat