News from the Wire

Aite Group releases new report on biometric payments and rewards

Tuesday, January 23, 2007 — 20:12:29 (EST)

Boston, MA, January 23, 2007 – In a new report, Biometric Payments and Rewards: A Case Study, Aite Group discusses the roll-out of Pay By Touch technology at Green Hills, a one-store grocery that is headquartered in Syracuse, NY.%%N%%N"Given the economic context in Syracuse, NY, Green Hills' pre-existing high average sales per square foot, the sophistication of the previous loyalty program, and the store's stagnant top-line sales in the years leading up to SmartShop's roll-out, the impact of SmartShop on Green Hills' financial performance is impressive," comments Gwenn Bézard, a Research Director with Aite Group and the author of the case study.%%N%%NIn the United States today, beyond two-tier pricing schemes (e.g., grocery stores) and loyalty programs that are tied to private-label credit cards or dual cards (e.g., specialty retailers), most retailers lack sophisticated loyalty programs. The development of private- label merchant debit/prepaid payment and reward programs is a significant trend that has the potential to reverse that situation, as illustrated by Green Hills' story.%%N%%NAbout Aite Group, LLC %%N%%NAite Group is a leading independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry. It was founded by leading industry experts in Banking and Securities & Investments. Aite Group brings together a team of business strategy, technology and regulatory experts to deliver comprehensive, timely, and actionable advice to financial institutions and technology vendors. It seeks to become a true partner, advisor, and catalyst by exchanging ideas and challenging basic assumptions to ensure that our clients always stay one step ahead of the competition.%%N %%NSource: Company press release

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Source: Company press release.