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Ackroo completes development to Clover to expand SMB footprint

October 3, 2018

OTTAWA, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (“Ackroo” or the “Company”), a gift card and loyalty marketing technology and services provider, today announced that its gift card, loyalty and promotional currency application will be one of the first third-party applications released on First Data Canada’s new Clover Flex app market. First Data Canada, a division of First Data Corporation (NYSE:FDC), recently launched the revolutionary android-based Clover Flex point of sale solution. This integration will allow any First Data Canada merchant who chooses to select or switch to Clover, the ability to download the Ackroo gift card, loyalty and promotional currency application at the click of a few buttons. These merchants will be able to setup and self-deploy themselves on Clover eliminating the need to contact Ackroo sales and operations staff, which will not only speed up the time to begin using Ackroo’s application, but will also remove the setup costs associated today with using Ackroo’s platform. The advancement is a big win for First Data merchants, but also a big win for Ackroo as they enter the self-serve sign up market for SMB merchants.

“Building a self-serve signup product for our growing SMB merchant base is a key priority for Ackroo,” said Steve Levely, chief executive officer at Ackroo. “As we enter our next phases of growth, reducing the effort required to support the selling and on-boarding of small to medium sized merchants is important for the Company. Merchants that use Clover can access the Clover app marketplace to identify and download the Ackroo application and effectively self-deploy. Since merchants will self-setup they will avoid regular Ackroo setup fees and will have access to a free initial trial of the technology. We see value not only in redirecting our sales and operational efforts towards larger or more complex merchant types, but also in reducing the cost to switch to Ackroo by extending a freemium version of the product to merchants. This advancement combined with Ackroo being the first gift card and loyalty provider on Clover in Canada positions the Company and our partner First Data Canada for great success in the years ahead.”

“We are thrilled to welcome Ackroo to the Clover Canada app marketplace as one of our first third-party apps and to satisfy our merchant’s requirement to consume a leading gift and loyalty application via the Clover Flex device,” said Brian Green, President at First Data Canada. “Our Clover Flex launch brings First Data’s tremendous payments innovation to Canada. Flex is the first device to offer LTE, Wifi and counter-top capabilities all in a single device and to include smart technology for the consumption of apps that are important to business operators. Ackroo has been a well-regarded partner of First Data Canada for some time and is a great compliment to the Clover platform.”

About First Data CanadaFirst Data Canada, a division of First Data Corporation (NYSE:FDC) makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 22,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 3,000 transactions per second and $2.4 trillion per year. For more information, visit: www.firstdata.ca.

About AckrooAckroo provides automotive, petroleum, hospitality and retail merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card, loyalty and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.

For information, please contact:

Steve Levely Chief Executive Officer | Ackroo Tel: 613-599-2396 x730 Email: slevely@ackroo.com

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking StatementsThis release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the company’s ability to raise enough capital to support the company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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