Dallas, Texas/Dublin, Ireland - 21 July, 2003 - Trintech Group Plc (NASDAQ: TTPA, Prime Standard: TTP), a leading provider of transaction management and payment infrastructure solutions, announced today that Mac's Convenience Stores LLC, a division of Alimentation Couche-Tard Inc., has selected ReconNET to provide transaction reconciliation and cash management for over 500 North American locations.
"We were thoroughly impressed with the Trintech team's knowledge and responsiveness," said Dan Fiden, Director of Finance at Mac's Convenience Stores. "We required a flexible solution that could offer us proven benefits of improved efficiency, better processes, and easier communication with our field offices for exception resolution. ReconNET fits those needs very well."
Mac's initial implementation of the ReconNET system was completed in less than six weeks and currently manages the reconciliation of all cash and check deposits with bank statements. During the second phase of implementation, Mac's intends to manage its bank-to-book reconciliation, Automated Clearing House (ACH) transactions, and the reconciliation of credit card transactions. Mac's has also announced plans to add reconciliation of its lottery transactions through ReconNET.
"Trintech is extremely pleased that Mac's has chosen to implement our ReconNET solution to manage their reconciliation requirements," said Randy Jesberg, President of Trintech's Funds Management Systems Division. "ReconNET's rich functionality, flexibility and scalability has made it a proven solution in many diverse environments, including convenience stores. ReconNET is ideally equipped to manage Mac's transaction requirements today and tomorrow."
About ReconNET
Trintech's ReconNET business-to-business enterprise reconciliation and treasury solutions streamline the management of cash deposits, credit card payments, gift cards, disbursements, and other transactions to optimize cash flow, tighten internal funds controls and reduce costs. Today, Trintech's ReconNET solution is optimizing funds management and research for 300 leading companies in retail, hospitality, food service, insurance, banking, government and other industries, including YUM! Brands Restaurants, Foot Locker, Radio Shack, 7-Eleven, Verizon Wireless, Kroger, Regal Entertainment, Budget Rent A Car, Burger King, Farmer's Insurance Group, and the University of Missouri.
About Trintech
Trintech is a leading provider of transaction management and payment infrastructure solutions to financial institutions, payment processors, enterprise retailers and network operators globally. Built on over 15 years of experience, Trintech's solutions manage each area of the payment cycle from authentication, authorization, settlement, dispute resolution and reconciliation – enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the UK at 186-192 Darkes Lane, Potters Bar, Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). Visit Trintech on the web at www.trintech.com
About Mac's Convenience Stores
Mac's Convenience Stores LLC is a division of Alimentation Couche-Tard Inc., the leader in the Canadian convenience store industry and the seventh-largest convenience retailer in North America. Following its most recent acquisition, that of the Dairy Mart Convenience Stores, Inc. chain, the Company now operates a network of 2,427 convenience stores, 966 of which include gasoline dispensing, located in three large geographic markets in Eastern, Central and Western Canada and the Midwestern United States. Currently, 17,800 people work at Couche-Tard's head office and throughout the network.
Media Contact
Trintech Inc, US.
Darrell Maronde.
Tel. 972-739-1634.
email: darrell.maronde@trintech.com