Versatile Credit Introduces The HiveTM to Its Retail Lending Ecosystem

Versatile Credit Introduces The HiveTM to Its Retail Lending Ecosystem


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MECHANICSBURG, Pa.--(BUSINESS WIRE)--Apr 15, 2014--Versatile Credit, the leading provider of innovative solutions linking bank lenders with consumers applying for credit in retail stores, today announced the launch of The Hive, a new countertop kiosk designed to fit in more store environments. Versatile Credit is a business unit of Versatile Systems Inc. (TSX Venture Exchange: VV).

The Hive, from Versatile Credit, offers retailers a compact kiosk that connects to 19 primary and secondary financial institutions offering consumer credit. Available in eight colors and custom hues, The Hive can match any store’s environment. Since 2007, consumer applications using the in-store Versatile Credit ecosystem have resulted in more than $7 billion in approved credit. (Photo: Business Wire)

“We are very excited to introduce The Hive, the latest addition to our rapidly growing credit ecosystem. Its design and compact size make it easy to deploy in retail stores, while still being as tough and secure as our other floor-standing kiosks,” said Kenny Kahn, president and chief executive officer of Versatile Systems. “The Hive enhances the consumer credit application experience, delivering more applications, more approvals and more sales to our retail partners.”

The modern design houses Versatile Credit’s specially configured tablet computer that enables a direct connection to 20 primary and secondary financial institutions offering consumer credit. Eight colors, along with available custom hues, can match any store’s environment.

The Hive is available for one simple all-inclusive monthly fee with no down payment or long-term contract required. The package also includes installation and training, service and support, regularly updated marketing content and weekly reports and analytics.

Applying for credit using any Versatile Credit kiosk is private, secure, quick and easy to complete. Credit decisions are typically returned in seconds. Versatile Credit’s ecosystem is ideal for retailers with customers needing additional credit to make large retail purchases across a wide range of markets, especially in the furniture, flooring, mattress, jewelry, automotive and electronics stores. Since 2007, consumer applications using the Versatile Credit ecosystem have resulted in more than $7 billion in approved credit.

About Versatile

Versatile is a multi-disciplinary technology company with solutions across the mobile, digital signage, IT infrastructure, software and hardware landscape. The company’s products are utilized by Fortune 500 companies, leading financial institutions and large and small retail organizations. For more information, please visit www.versatilecredit.com and www.versatile.com.

“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.”

Photos/Multimedia Gallery Available:http://www.businesswire.com/multimedia/home/20140415005414/en/

CONTACT: Company Contact:

Rob Meyer

Executive Vice President, Product & Marketing

717-620-2557

rmeyer@versatile.com

or

Media Contact:

Daum Weigle Inc.

Jon Daum

858-538-9755

jdaum@daumweigle.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA PENNSYLVANIA

INDUSTRY KEYWORD: CONVENIENCE STORE DEPARTMENT STORES TECHNOLOGY LUXURY DATA MANAGEMENT HARDWARE SOFTWARE OTHER TECHNOLOGY HOME GOODS RETAIL OTHER RETAIL

SOURCE: Versatile Systems Inc.

Copyright Business Wire 2014

PUB: 04/15/2014 07:30 AM/DISC: 04/15/2014 07:30 AM

http://www.businesswire.com/news/home/20140415005414/en

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

Versatile Systems Inc.

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