Deluxe to accelerate growth with multiple HP PageWide Web Press T250 HD deal

Rhea-AI Summary

Deluxe has announced an upgrade to its Check and Promotional Solutions, introducing digital and print-on-demand capabilities through the HP PageWide Web Press T250 HD with HP Brilliant Ink. This investment aims to enhance product offerings, enabling faster implementation and expanded designs. Deluxe's President notes that these advancements will contribute to revenue growth over time, targeting their four million small business and 4,000 financial institution customers. Deluxe's commitment to innovation with HP strengthens its market position and aligns with the ongoing evolution towards digital payments.

Positive

• Introduction of HP PageWide Web Press T250 HD to enhance product offering.
• Faster implementation of new products and customer services.
• Expansion of existing check designs and promotional capabilities.
• Potential revenue growth targeting four million small business customers.

Negative

• None.

PALO ALTO, Calif., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Deluxe, a Trusted Payments and Business Technology™ company, announced today its accelerating competitive product differentiation and development in its Check and Promotional Solutions businesses by adding digital and print-on-demand capabilities with the addition of a series of HP PageWide Web Press T250 HD with HP Brilliant Ink this year.

The new HP technology and equipment will extend existing Deluxe capabilities and enable new product development. With the HP PageWide Web Press T250 HD with HP Brilliant Ink – the first of which has been installed in its Kansas City facility – Deluxe production options expand to include faster implementation of new products and customer services, expanded check designs, four-color, two-sided bound inserts for advertisement, promotion and more.

“While Deluxe transforms into a digital Payments company, we are making responsible investments in our Check and Promotional Solutions production to extend our long-term competitive advantages,” said Tracey Engelhardt, President of Checks, Deluxe.

These new capabilities will enable revenue gains for Deluxe over time, both from competitive takeaways and cross-selling to its existing four million small business and 4,000 financial institution customers.

“Deluxe and HP are innovative, creative partners, so it was a natural fit for us to tap their next generation technology in order to further extend our market leadership,” said Garry Capers, President of the Cloud and Promotional Solutions, Deluxe.

“Checks remain a critical part of the payment ecosystem according to the Federal Reserve. Deluxe plays a leading role shipping more than 120,000 packages of checks each day to our customers and their customers. The HP T250 helps Deluxe further our leadership not only in the US, but Canada as well where we have had significant competitive wins,” Engelhardt said.

As the inventor of the check book, Deluxe has long been known as the Original Payments Company™. Along with automated accounts receivable and accounts payable solutions, human resources and payroll solutions, data and cloud services and more, the addition of best-in-class print technology from HP further deepens the Deluxe suite of services that help businesses and consumers pay, get paid and grow.

Carles Farre, Vice President and General Manager HP PageWide Press said, “We’re pleased to continue working with an innovative strategic partner like Deluxe and happy they have chosen the HP PageWide Web Press T250 HD with HP Brilliant Ink. Having a long-standing relationship with Deluxe, we’re excited to see their continued expansion plans as one of the pioneers in the industry enhancing their digital print and payment solutions.”

About Deluxe Corporation
Deluxe, a Trusted Payments and Business Technology™ company, champions business so communities thrive. Our solutions help businesses pay and get paid and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world’s largest consumer brands, while processing more than $2.8 trillion in annual payment volume. Our reach, scale and distribution channels position Deluxe to be our customers’ most trusted business partner. To learn how we can help your business, visit us at www.deluxe.com, www.facebook.com/deluxecorp, www.linkedin.com/company/deluxe, or www.twitter.com/deluxe.

About HP Inc.

HP Inc. is a technology company that believes one thoughtful idea has the power to change the world. Its product and service portfolio of personal systems, printers, and 3D printing solutions helps bring these ideas to life. Visit http://www.hp.com.

For more information, please contact:
Graham Day
graham.day@hp.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7652de19-c244-48ee-bdeb-2c83adcfa84d

FAQ

What new technologies did Deluxe introduce with HP?

Deluxe introduced the HP PageWide Web Press T250 HD with HP Brilliant Ink to enhance its Check and Promotional Solutions.

How will Deluxe's new capabilities impact revenue?

The new capabilities are expected to drive revenue gains over time through competitive advantages and cross-selling.

What is the significance of checks in the payment ecosystem according to Deluxe?

Deluxe highlights that checks remain a critical part of the payment ecosystem, shipping over 120,000 packages daily.

How many customers does Deluxe serve?

Deluxe serves approximately four million small business customers and 4,000 financial institutions.