Company: Smart System Technologies, Inc.
Product: PowerPay Contactless Payment System

Whether you call it "contactless" or "cashless," payments made with a growing number of devices using a variety of technologies are catching on.

Payment card issuers and service providers are coming up with cards, fobs and imbedded tags that let consumers wave, not swipe, to pay for purchases and make it easier for merchants to track inventories. These devices use wireless, infrared and radio frequencies to transmit transaction information and other data.

Smart System Technologies, Inc. (SST) has a new solution that makes it possible for consumers to make contactless payments with transaction speeds of less than five seconds, and that delivers rewards automatically to the consumer at the moment of the transaction.

Because the solution is built on radio frequency identification (RFID) technology, there are no wires or cables to limit range, making it ideal for venues including sporting and entertainment events.

SST's solution, called PowerPay, has been launched nationally and following in-season testing last year, has been adopted by two NFL teams, the Philadelphia Eagles and the Seattle Seahawks, for official use this season.

With PowerPay, consumers wave an RFID-enabled tag in front of a PowerPay reader. Transactions are fast, easy because they're cashless, and secure. For merchants, including franchises like the football teams, the technology allows them to accept payments easily and quickly, but one of the solution's best features is the marketing capabilities it offers.

For merchants and retailers, the system's strength is its potential for gathering marketing data. It lets purchase information to be merged with customer demographic and affinity information in real-time.

Merchants are able to deliver automatic rewards to their customers who use PowerPay, including rewards points that they can accrue and redeem for merchant-themed merchandise or benefits, and special offers.

The system is currently in place on the club level of Seattle's Qwest Field for fans attending concerts, football games and other events. Fans attending events at Philadelphia's Lincoln Financial Field are now able to pay for concessions and merchandise throughout the arena without shuffling around for cash or a plastic card to hand over.

The pre-rollout tests at both locations showed that when using PowerPay, average transaction times were twice as fast as cash and nearly six times faster than credit or debit.

Both facilities also experienced increased revenue resulting directly from the PowerPay system. According to a survey conducted by New York University Stern Business School, 83% of PowerPay users said they were "extremely satisfied with using the PowerPay system."

PowerPay was designed specifically for sports fans and consumers who want to receive rewards and loyalty offers. It can be linked by consumers to any of their existing credit, debit or checking accounts, and can be piggybacked with other rewards programs the consumers may be currently using through those accounts.

PowerPay tags are free to consumers; they're available now in Philadelphia and Seattle.

SST has deals pending to deploy the PowerPay system to other teams, arena venues and cash-intensive retailers such as QSRs, movie theaters, grocery chains, pharmacies and convenience stores.

Smart System Technologies, Inc.
317 Madison Avenue, Suite 1220
New York, NY 10017
212-624-1640
866-362-05489
www.powerpayit.com