Deluxe Corporation (NYSE:DLX)
announced today that it has completed the acquisition of Destination
Rewards, a leading customer rewards and loyalty program provider based
in Boca Raton, Florida. This acquisition will enhance Deluxe’s suite of Customer
Lifecycle Management offerings for financial institutions, which
today includes solutions for check program management, customer
acquisition including targeting & campaign services, account activation
& retention, fraud, security, and risk management services.
Destination Rewards has developed a patented, innovative rewards and
loyalty solution that is based upon an expansive merchant network for
discounted retail goods and services including hotel rooms, local deals,
gift cards and top brand name merchandise. These goods and services are
available to end users at significant, exclusive discounts from lowest
available retail prices. Since the value to end users comes from these
exclusive discounts, Destination Rewards is able to offer its clients a
meaningful rewards and loyalty program without the accrued liability
that has made such programs prohibitive for many organizations,
including financial institutions.
“Financial Institutions are focused on driving revenue and enhancing the
customer experience with cost management discipline,” said John Filby,
senior vice president of Financial Services for Deluxe. “With
Destination Rewards, Deluxe brings to market a solution that makes it
easy and affordable for FIs to reward account holders for behaviors that
are most valuable, including debit card usage, borrowing, adoption of
self-service channels and more.”
Founded in 2001, Destination Rewards has attracted numerous clients to
its program including Experian and Humana. “Given their FI channel and
commitment to Customer Lifecycle Management, we could not think
of a better partner to further extend Destination Rewards into the FI
marketplace than Deluxe Corp.,” said Destination Rewards President John
Lavin. “We will continue our commitment to being an excellent rewards
and loyalty program provider with our longstanding focus on a great end
user experience based on tangible value.”
Deluxe purchased Destination Rewards late in December 2013. The
acquisition is not expected to have a significant impact on revenue or
diluted earnings per share in 2013 or 2014. As such, the Company plans
to release additional financial information related to Destination
Rewards as part of its announcement of fourth quarter and full year 2013
results later in January.
About Deluxe Corporation
Deluxe is a growth engine for small businesses and financial
institutions. More than four million small business customers access
Deluxe's wide range of products and services including customized checks
and forms, as well as web-site development and hosting, email marketing,
search engine optimization and logo design. For financial
institutions, Deluxe offers an expanding suite of customer lifecycle
management solutions that include industry-leading check program
management, customer acquisition including targeting & campaign
services, account activation & retention, fraud, security, and risk
management services. Deluxe is also a leading printer of checks and
accessories sold directly to consumers. For more information, visit us
at www.deluxe.com,
www.fi.deluxe.com,
www.facebook.com/deluxecorp
or twitter.com/deluxecorp.
About Destination Rewards
Destination Rewards® is the industry's most innovative provider of zero
liability rewards programs, specializing in loyalty, incentive and
engagement solutions. Since inception in 2001, Destination Rewards has
helped some of the world’s most successful brands, such as Experian and
Humana, drive customer retention and influence behaviors at a fraction
of the cost of traditional loyalty and incentive
programs. They offer superior technology on a patented, customizable
platform that includes a robust array of travel, merchandise, gift
cards, premium local coupons, daily deals, auctions, sweepstakes, games
and much more. For more information, please visit www.destinationrewards.com.
Copyright Business Wire 2014