The system allows for the efficient purchasing of items under $5.00 at retail, so quick service restaurants, convenience stores and municipal transportation systems are a natural fit for our new capability.
Las Vegas, Nevada (PRWEB) January 28, 2008
CEO America, Inc. (OTC: CEOA.PK), exclusive US licensee of CREDITZ® Digital Currency, today announced that it plans to pilot the addition of a contactless, Radio Frequency Identification (RFID) application to its electronic micro-payment and loyalty system.
The CREDITZ RFID-enabled cards will be introduced at the upcoming Electronic Transaction Association (ETA) annual convention in April in Las Vegas, Nevada. This new addition to the CREDITZ system will provide CREDITZ Account holders with increased convenience and a faster transaction experience at participating CREDITZ retailers. Powered by IBM Series I Technology, Creditz RFID contactless payments are designed to ensure fast and convenient transactions for both the merchant and consumer, and are ideal for retailers who attract and retain customers by how quickly they process transactions.
More and more, consumers are electing to use contactless cards over traditional magnetic stripe cards. These transactions are usually faster than cash or traditional magnetic stripe credit cards, eliminate the need to swipe the card, and in many instances, also, eliminate the need to sign a receipt.
David Vaters, founder of the Creditz System, stated, “With CREDITZ RFID consumers can sign up free, get paid to shop and will be able to enjoy the speed, convenience of contactless payments. 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."
Vaters added, “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." He further added, “The system allows for the efficient purchasing of items under $5.00 at retail, so quick service restaurants, convenience stores and municipal transportation systems are a natural fit for our new capability.”
About CEO America, Inc.
CEO America, Inc. (OTC: CEOA.PK) has the exclusive US license of the CREDITZ® Digital Currency System. Utilizing IBM’s latest database and Series I infrastructure technology, CREDITZ is designed as a global loyalty payment and marketing system that replaces cash, and provides spendable CREDITZ Digital Currency to consumers. CREDITZ are paid to customers for behavior, and merchants can earn incremental revenue from that behavior. CREDITZ is the first payment system to integrate 21st Century technology micro-payments, loyalty, marketing and business intelligence into an offline and mobile operating platform. It is the world’s first digital currency — the transaction and marketing engine for the digital economy.
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