Product: Contactless smart card technology for gift/loyalty programs
Company: Smart Transaction Systems Inc.

As more merchants implement electronic gift and loyalty card programs, the days of crumpled gift certificates, tattered punch cards and consumers taking liberties by adding a few extra holes are ending. What if the process of swiping these gift and loyalty cards is ending, too?

In line with a growing trend toward adopting contactless solutions at the POS, Smart Transaction Systems Inc. (STS), a provider of stored value card systems, recently announced the addition of contactless, smart card technology to its line of gift and loyalty card programs.

The smart cards simultaneously store and access both a specific cash value and a loyalty/reward point balance that merchants previously tracked using punch cards and gift certificates.

To complete a transaction, no swiping is required; consumers pass the device over a reader. In addition to cards, STS said it will also integrate its smart payment technology into stickers, keychain fobs and even wristbands.

When used with high-speed broadband transaction processing, the contactless smart card technology enables transactions that are faster than when consumers use cash for payment.

Many VeriFone Inc. and Hypercom Corp. POS terminals as well as PC-based POS systems are now compatible with STS' new technology. In addition, STS has made its smart cards compatible with contactless readers from a variety of manufacturers.

If a merchant's current POS system or POS terminal cannot accept contactless, smart card-based payments, STS said merchants can add software to make them compatible; no new hardware is required.

Businesses of all sizes, including sport and music venues, grocery stores, drive-thru restaurants and corporate and college cafeterias, might benefit from using this technology.

Smart Transaction Systems Inc.
1803 S. Foothills Hwy., Suite 205
Boulder, CO 80303
888-494-9760
www.smart-transactions.com