Givex Announces 15 New Professional U.S. Sports Teams as Clients

Rhea-AI Summary

Givex Information Technology Group announced the addition of 15 new professional U.S. sports teams as clients in 2022, leveraging its digital fan engagement solutions like Uptix, stored value, and online ordering. Uptix enhances the gameday experience by enabling cashless transactions and delivering in-game promotions. The product allows venues to add value to tickets, driving increased spending and revenue. Givex's solutions provide data insights for venue operators to enhance customer engagement and business decisions, demonstrating the company's strong position in the digital solutions market.

Positive

• 15 new U.S. sports teams added as clients in 2022.
• Uptix product increases fan engagement and drives concession revenue.
• An average upsell of 47% per game reported for an Uptix client.

Negative

• None.

With fans returning to venues in droves, Givex provides digital fan engagement solutions like Uptix stored value, gift cards and online ordering

TORONTO, Aug. 30, 2022 /PRNewswire/ - Givex Information Technology Group LTD ("Givex") (TSX: GIVX) (OTCQX: GIVXF) announced today that it has brought on 15 new professional U.S. sports teams as clients in 2022, utilizing various Givex products.

Uptix enhances the gameday experience for fans with its stored value ticketing functionality, allowing for cashless concessions with shorter lines and in-game promotions. Stored value tickets have multiple functions (season ticket holder discounts off certain items, concessions and merchandise redemptions) and a barcode that can be scanned by a Point of Sale (POS) system to redeem the funds loaded on the ticket. 

"The COVID-19 pandemic emphasized the need for venues to utilize cashless digital solutions to manage concessions, merchandise, ordering and more, putting Givex in a coveted position in the industry," said Debbi Blackburn, VP Business Development at Givex. "Our Uptix product, for one, offers a multi-pronged solution that allows venue operators to surprise and delight guests with in-event promotions while driving concession revenue."

At any time during a game, venues can add value to fans' tickets in a certain section or row, which creates excitement for fans and drives revenue for concessions. Ticket holders typically spend more than the value added on their tickets, creating lift and resulting in higher concession and merchant revenues. With Uptix, clients also can track fan spending, identify key customer segments and tailor promotions to increase spending, as well as utilize stored value to handle customer service issues in real time.

Another application of Uptix is for venue employees. For example, Givex developed a cashless payment solution for a professional baseball team, already a gift card, Uptix and instant rewards client. The payment solution manages meals for employees working in the venue using QR codes on their employee badges. Employees can manually reload funds or participate in the Auto-Reload program, and can use the stored value at any POS in the ballpark.

"These new partnerships showcase Givex's ability to provide turnkey digital solutions that are easy to implement and arm venue operators with data to drive revenue and make business decisions," said Don Gray, CEO of Givex. "An Uptix client saw an average upsell of 47% per game in the month of August, and that's just one example of the many clients who see the ongoing value of Uptix and other Givex products."

For more information about Uptix, please visit https://www.givex.com/products/uptix/.

About Givex

Givex (TSX: GIVX) (OTCQX: GIVXF) is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 116,000 locations across more than 100 countries. Learn more at givex.com.

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SOURCE Givex

FAQ

What recent client additions did GIVXF announce?

GIVXF announced the addition of 15 new professional U.S. sports teams as clients in 2022.

How does Uptix enhance the fan experience for GIVXF?

Uptix enhances the fan experience by enabling cashless transactions and offering in-game promotions.

What is the impact of Uptix on concession revenue for GIVXF?

Uptix has been shown to drive increased spending, with an average upsell of 47% per game for clients.

What solutions does GIVXF provide to sports venues?

GIVXF provides digital fan engagement solutions, including Uptix, stored value, gift cards, and online ordering.

When was the announcement about new clients made by GIVXF?

The announcement regarding the addition of new clients was made on August 30, 2022.