IDT Corporation (NYSE: IDT), a global telecommunications provider, has entered into an agreement with Rite Aid Corporation to market domestic and international prepaid calling cards in the U.S. drugstore chain's approximately 4,700 locations.
The agreement will provide Rite Aid consumers access to IDT’s portfolio of prepaid and stored value products and services including a variety of prepaid calling cards for both domestic and international use. Card denominations range from 150 to 2,000 prepaid minutes, and domestic cards are cobranded with and IDT and Rite Aid logos. As one of the nation's leading drugstore chains, Rite Aid has stores in 31 states and the District of Columbia and fiscal 2011 annual revenues of $25.2 billion.
“We are very excited about our marketing agreement with Rite Aid. Rite Aid customers will find these cards to be a convenient and affordable way to keep in touch with family and friends both within the United States and abroad,” said Yona Katz, CEO of IDT Retail.
"IDT has been an industry leader for over 15 years and brings to Rite Aid a wealth of experience providing practical, prepaid communication solutions that we believe our Rite Aid customers will use and appreciate," said Bill Renz, Rite Aid vice president, consumables. "As an added incentive, customers who recharge an existing card with new minutes from a Rite Aid store will receive 10 percent additional minutes for free."About IDT Corporation: IDT Corporation (NYSE: IDT) through its IDT Telecom division provides telecommunications and payment services. IDT Telecom’s retail products allow people to communicate and share financial resources around the world while its carrier services business is a global leader in wholesale voice termination. For more information, visit www.idt.net.