Catuity licenses loyalty to transaction processor
The US-based loyalty and e-coupon software provider, Catuity Inc., has signed a long-term license agreement with global payment services provider, Certegy Inc., to run Catuity's real-time loyalty software at Certegy's international processing centres.
The agreement enables Certegy to offer real-time loyalty solutions to its customers worldwide. Such real-time recognition and real-time rewards for customers are currently two high-growth areas in the customer relationship management marketplace.
"Transaction processors provide the foundation for the billions of transactions that take place each day, and they are among those who seek additional ways to generate revenue, both for themselves and their customers," said Michael Howe, president and CEO for Catuity. "The alignment of Catuity with Certegy is an opportunity to demonstrate the effectiveness of real-time loyalty programmes in this industry." Howe added that Catuity does not expect significant revenues from this agreement during 2004.
"Our clients are increasingly seeking ways to reward customers immediately at the time of sale," said Larry Towe, executive vice president and chief operating officer for Certegy Inc. "By partnering with Catuity to provide real-time loyalty rewards, Certegy will help retailers and card issuers to build customer loyalty, which results in more frequent transactions and higher sales."