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Broadband & Mobile Featured Article
January 28, 2008
RFID added to Loyalty Payment System from Creditz
By Calvin Azuri TMCnet Contributing Editor
The digital currency designer, Creditz, plans to integrate a Radio Frequency
Identification (RFID) mechanism into its electronic payment system, according to a recent news report. The company hopes to simplify the process of making digital transactions in Canada by applying the RFID to its existing loyalty payment scheme.
Creditz account holders can use the new RFID-enabled account cards once the proposal has been accepted by members at the yearly ETA (Electronic Transaction Convention), which is due to take place in April 2008. Customers can take advantage of faster and more convenient payment options with the RFID-enable cards. Retailers participating in Creditz loyalty payment scheme should be able to provide a more efficient transaction method to their customers once the feature has been put in place. The Radio Frequency Identification mechanism runs on IBM (News - Alert) Series I Technology, and facilitates payment procedures for vendors and consumers alike.
There is no registration charge for customers wishing to sign up to Creditz’s RFID system. Consumers can quickly and easily make purchases of less that $5 at retail outlets, which means that Creditz is focusing mainly on convenience stores, restaurants and cafes to provide its RFID payment option.
“As the first payment system designed for the 21st century digital economy, we are pleased to be able to integrate RFID into our micro-payment, loyalty and marketing solution for merchants and their customers,” said the founder of the Creditz system, David Vater. “We have been developing the micro-payment capability of the Creditz System and now we are ready to market and deploy in an exponential way with payment industry partners in Canada.”
Creditz designs loyalty payment schemes which can replace cash. Creditz users make payments through and earn digital currency from the Creditz Loyalty System. Creditz methods are intended to revolutionize transaction methods and marketing systems. Customers can earn Creditz currency whenever they buy products in an outlet where the Creditz logo is displayed. The same outlets allow customers to pay for merchandise using Creditz digital currency. One advantage of the Creditz payment system is that it reduces the risk of identity theft because Creditz cards do not contain any personal or financial information. Interested customers can sign up for a Creditz account free of charge at a participating Creditz retailer; they can also sign up online by visiting the Creditz website.The first company to create a global, digital currency, Creditz has made its scheme available on an offline and mobile functioning platform.
Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers whitepapers, case studies and other documents which are free to registered users. Today’s featured white paper is The Challenge of Maximizing Service Availability and Security, brought to you by Mu Security (News - Alert) (News - Alert).
Identification (RFID) mechanism into its electronic payment system, according to a recent news report. The company hopes to simplify the process of making digital transactions in Canada by applying the RFID to its existing loyalty payment scheme.
Creditz account holders can use the new RFID-enabled account cards once the proposal has been accepted by members at the yearly ETA (Electronic Transaction Convention), which is due to take place in April 2008. Customers can take advantage of faster and more convenient payment options with the RFID-enable cards. Retailers participating in Creditz loyalty payment scheme should be able to provide a more efficient transaction method to their customers once the feature has been put in place. The Radio Frequency Identification mechanism runs on IBM (News - Alert) Series I Technology, and facilitates payment procedures for vendors and consumers alike.
There is no registration charge for customers wishing to sign up to Creditz’s RFID system. Consumers can quickly and easily make purchases of less that $5 at retail outlets, which means that Creditz is focusing mainly on convenience stores, restaurants and cafes to provide its RFID payment option.
“As the first payment system designed for the 21st century digital economy, we are pleased to be able to integrate RFID into our micro-payment, loyalty and marketing solution for merchants and their customers,” said the founder of the Creditz system, David Vater. “We have been developing the micro-payment capability of the Creditz System and now we are ready to market and deploy in an exponential way with payment industry partners in Canada.”
Creditz designs loyalty payment schemes which can replace cash. Creditz users make payments through and earn digital currency from the Creditz Loyalty System. Creditz methods are intended to revolutionize transaction methods and marketing systems. Customers can earn Creditz currency whenever they buy products in an outlet where the Creditz logo is displayed. The same outlets allow customers to pay for merchandise using Creditz digital currency. One advantage of the Creditz payment system is that it reduces the risk of identity theft because Creditz cards do not contain any personal or financial information. Interested customers can sign up for a Creditz account free of charge at a participating Creditz retailer; they can also sign up online by visiting the Creditz website.The first company to create a global, digital currency, Creditz has made its scheme available on an offline and mobile functioning platform.
Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP
Communications industry. The library offers whitepapers, case studies and other documents which are free to registered users. Today’s featured white paper is The Challenge of Maximizing Service Availability and Security, brought to you by Mu Security (News - Alert) (News - Alert).
