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Creditz Digital Currency adds RIFD application to loyalty payments system

24 January 2008  |  2053 views  |  0 Source: Creditz Digital Currency

CEO Creditz (PINK SHEETS:CEOX), exclusive Canadian licensee of Creditz Digital Currency, today announced that it will be adding 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.

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 in Canada." 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."

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