Catuity Broadens Its Efforts With Major Terminal and Card Manufacturers.Business, Retail & High-Tech Editors DETROIT--(BUSINESS WIRE)--Sept. 11, 2001 Catuity and SchlumbergerSema Enter Joint Marketing and Sales Effort to Promote Loyalty with Gift Cards Catuity, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CTTY CTTY Control Teletype CTTY Console Teletype ; ASX ASX See: Australian Stock Exchange : CAT) today announced that it has commenced a joint marketing and sales effort to promote loyalty with gift cards with SchlumbergerSema, a leading IT services company that provides advanced point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) terminals. Catuity's Loyalty OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). product is now running on the SchlumbergerSema MagIC(TM) 6000 and 9000 terminals. Michael V
Michael V the Caulker or Kalaphates (Greek: Μιχαήλ Ε΄ Καλαφάτης, . Howe, President and Chief Executive Officer of Catuity made the announcement noting: "We are delighted to add the SchlumbergerSema terminals to our impressive list of infrastructure alliances. The gift card market is expanding so rapidly, that we believe our alliance with SchlumbergerSema will prove beneficial for both merchants and customers." Gift cards are one of the brightest spots in the retail industry today, as these cards increase retail sales while keeping dollars in the cash register. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the July/August issue of Card Marketing, an industry trade publication, annual sales of gift cards have reached in excess of $20 billion and are projected to hit $32 billion in 2002. Other industry sources estimate that by 2005 plastic cards will represent 80 percent of the gift certificate market, for a total of approximately 850 million gift cards in use. "This growth has taken place in a short period of time and we believe that as retailers learn that they can create a relationship tool with gift cards that include a loyalty application, Catuity will be a significant beneficiary," said Howe. He estimated that Catuity will generate significant revenues in the next several years in just this segment of the industry alone. Catuity's Loyalty OTC, which was introduced last month, is an over-the-counter product that allows merchants who issue gift cards and/or private label loyalty cards to add the full range of marketing benefits offered by the Catuity System to their cards and ultimately provide a relationship card with benefits for both the merchant and the consumer. "SchlumbergerSema POS terminals accept both magnetic stripe A small length of magnetic tape adhered to credit cards, badges, permits, passes and tokens. The tape is read by magnetic stripe readers incorporated into ATMs, identification readers and payment terminals. and smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. , enabling merchants to quickly and cost-effectively implement innovative customer loyalty programs, such as those offered by Catuity," stated Matt Moore, SchlumbergerSema vice president of sales and marketing for POS terminals. About SchlumbergerSema SchlumbergerSema is a leading information technology services company providing consulting, systems integration, managed services, business continuity systems, products and IP network security solutions serving the telecommunications, utility, finance, transport, oil and gas, and public sector markets. With more than 30,000 employees in 130 countries, SchlumbergerSema is one of two business segments of Schlumberger Limited, a global technology services company. For more information about SchlumbergerSema, visit http://www.slb.com/. About Catuity Catuity, Inc. (www.catuity.com) is a leading provider of loyalty software systems. The Catuity software includes an integrated suite of applications that provide loyalty, ticketing, access control and membership. The Catuity Loyalty System is ubiquitous in that it can operate on any device, any card program, and with any payment process, including stored value, smart cards and wireless applications. Catuity unites the brick-and-mortar retailer with the Internet to enable cross-sell capabilities with consistent brand imaging across all channels. The Catuity loyalty system is currently the only loyalty software approved by Visa USA for use by its member banks that issue smart cards with loyalty applications. In conjunction with the provisions of the "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " section of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, this release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectations. Further information on potential factors that could affect Catuity, Inc. is included in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , which is filed with the U.S. Securities & Exchange Commission. MagIC is a trademark of Schlumberger. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion