Globalive Technology Inc. (the "Company"), a technology company focused on developing innovative payment, billing and credit solutions for consumers and businesses, recently announced that the Company's partner Flexiti Financial ("Flexiti"), a leading point-of-sale consumer financing solutions provider for retailers, is providing its online financing solution to Birks Group, modernizing consumer lending for the retailer's customers across Canada. The online offering complements Flexiti's in-store financing which was implemented last year following the signing of a multi-year agreement. Birks Group is Canada's leading jewellery retailer with more than 26 locations across the country.
With the help of Flexiti's online financing solution, customers can now apply for financing online, receive approval within minutes and use it as payment at checkout. By offering revolving credit as well as attractive payment plans, Flexiti eliminates the need for customers to reapply for financing towards future purchases, driving loyalty and repeat sales. With minimal integration required into existing POS systems, retailers can quickly scale across multiple locations and sales channels to offer affordable financing via private label credit card to their customers in-store and online.
"Maison Birks has delighted Canadians through our products and commitment to superior customer service since its foundation in 1879. In order to maintain our customers' loyalty, we must constantly strive to deliver a retail experience that reflects evolving tastes and expectations. This includes payment options tailored to individual needs," said Jean-Christophe Bédos, President and CEO of Birks Group. "As we continue the development of our e-commerce activities and adopt an omnichannel approach to retail overall, Flexiti's online offering provides our customers an improved online credit application and approval process."
E-commerce is becoming an increasingly important channel for Canadian retailers. In the coming decade, Boston Consulting Group expects that more than 35 percent of Canadian retail sales growth will be delivered online, up from 7 percent today.
"Today's retailers understand that changes in consumer buying behaviours across demographics is driving the need for better payment options tailored to the customer and the retailer," said Peter Kalen, Founder and CEO of Flexiti. "Flexiti has redefined financing at the point-of-sale and we're thrilled to deepen our relationship with Birks, a widely recognized, beloved and innovative Canadian brand, to help them build customer loyalty and drives sales online through the most advanced private label credit card platform in Canada."
Flexiti and the Company are parties to a technology development agreement and the Company is a shareholder of Flexiti.
"We're pleased to see Flexiti implement its innovative financing solution in tandem with one of Canada's best-known jewellery brands" said Anthony Lacavera, Chief Executive Officer of Globalive Technology. "Bringing aboard high-quality retailers deepens the value of Flexiti's network effect and will help drive further expansion of the company's customer base."
About Globalive Technology Inc.
Globalive Technology is a next generation software company and venture partner developing innovative solutions to disrupt traditional industries by leveraging artificial intelligence and machine learning technology stacks, with a particular focus on delivering innovative payment, billing and credit solutions. Globalive Technology is controlled by Globalive Capital Inc. which has founded and co-founded 12 businesses over the past 20 years with six successful exits ranging from $10M to $1.3B USD. It has also made over 100 venture investments and has over 45 technology companies in its portfolio. For more information, visit www.globalivetech.com.
Flexiti has reimagined point-of-sale (POS) consumer financing to drive sales for retailers in-store and online and is one of Canada's leading private label credit card issuers. Through its award-winning platform, Flexiti delivers a POS financing experience across any device that is customer-centric, simple and intuitive. Without the need to integrate into existing POS systems, retail partners can easily offer the same fast and paperless financing solution across all retail locations and sales channels to increase revenue and build loyalty through repeat purchases. Flexiti's joint venture with Globalive Technology demonstrates its commitment to innovation in the payments space through the development of solutions leveraging artificial intelligence. With high approval rates, innovative products and services, flexible promotional offers and a partnership-first approach, Flexiti is helping people improve their lives through better financing. For more information, visit www.flexiti.com.
About Birks Group Inc.
Birks Group operates 26 Maison Birks stores in most major metropolitan markets in Canada, one retail location in Calgary under the Brinkhaus brand and two retail locations in Vancouver under the Graff and Patek Philippe brands. The Birks brand is a leading fine jewelry, timepiece and gift brand available at all Maison Birks stores, Mappin & Webb and Goldsmiths in the United Kingdom in addition to other luxury jewelry retailers across North America. Birks was founded in 1879 and has become Canada's premier luxury brand. For more information, visit www.maisonbirks.com