Smart Card Loyalty System Growing
01 January, 2003
category: Contactless, Education
Coalition-Based Rewards Programs with Open and Real-Time Redemption Will Transform Rapidly Growing Consumer Loyalty Industry
SHCDirect (SHCD) and Smart Chip Technologies (OTC: SCTN) are pleased to announce an agreement to co-market, link, and bundle each other’s loyalty systems in order to offer a new business model for coalition style, smart card-based consumer rewards programs featuring open and real-time redemption to financial and retail industries worldwide.
“Coalition-based loyalty reward programs offer members the greatest selection of participating merchants, flexible redemption options, and are among the most powerful incentives merchants can use to build customer loyalty while cultivating a growing customer base,” according to SHCDirect Sr. Vice President Lester T. Deck. He further explained, “Smart Chip Technologies’ patented smart card loyalty system will expedite our ability to offer the secured, smart card based incentive programs our clients will need as compatible POS systems are deployed.”
SHCDirect, the high-tech descendant of S&H Citadel, formerly one of the leading BtoB incentive firms, has roots leading all the way back to S&H Greenstamps(R), one of the first loyalty currencies. SHCDirect designs and manages successful rewards programs for many of the largest credit card issuers.
“With EMV compliance deadlines looming for credit card issuers worldwide, Smart Chip’s patent-protected loyalty system will enable SHCDirect’s clients to begin converting loyalty applications or processing while using magnetic stripe cards and to easily upgrade their cardholders to smart cards without interruption of key rewards programs,” explained Smart Chip Technologies’ Chairman and Chief Product Architect David J. Simon. He added, “Our client’s loyalty programs will greatly benefit from SHCDirect’s expertise in coalition marketing.”
The parties plan to announce further details of the relationship as a result of subsequent Reseller Memorandum of Understanding and Licensing Agreements, which will include the licensing of Smart Chip Technologies’ loyalty system and business process patent: Method and System for Allocating and Redeeming Incentive Credits between a Portable Device and a Base Device, in order to expand its loyalty programs to a smart card.
About SHCDirect (SHCD)
SHCDirect is a loyalty solutions agency comprised of experienced marketers who have had their fingers on the pulse of the credit card industry for over 15 years. SHCD’s corporate roots go back to the original Sperry & Hutchinson Company, which introduced the famed loyalty currency: S&H Greenstamps(R). Throughout our history we have helped to solidify the bond between you and your customers. Through innovation and top-notch execution, we have created the tools to provide compelling reasons consumers choose our client’s products and services over their competitions’. Now deeply rooted in the industry, we are experts on the business, its trends, and development of effective marketing solutions. Our strategies move your cardholders to become loyal, productive, profitable customers. (www.SHCDirect.com)
About Smart Chip Technologies (SCTN
Smart Chip Technologies [OTC: SCTN] is a Software Technology Company with a patent-protected loyalty system for use in the smart card and wireless environment. Smart Chip Technologies (SCTN) licenses e-llegiance(TM), its patented multi-platform smart chip loyalty application, that is engineered for EMV, Global Platform, and MULTOS compliance to simplify electronic payments integration. Although backward compatible with magnetic-stripe cards, the software is chiefly designed to operate on smart cards, POS terminals, and smart devices such as PDA’s or mobile phones. SCTN also provides complete loyalty program management, transaction processing, and accounting services through its LoyaltyCentral(TM) software and back office operation. LoyaltyCentral(TM) and e-llegiance(TM) provide maximum flexibility in the management of click-and-mortar incentive programs, establishing business continuity across the physical, mobile, and virtual worlds. (www.SmartChipTechnologies.com)
Any statements contained in this press release that do not describe historical facts may constitute forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward- looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties.
SOURCE SHCDirect
CONTACT: Mike Ptak of SHC Direct, +1-630-792-1222; or Elaine Beavon of Smart Chip Technologies, +1-801-514-5611
