Catuity & SchlumbergerSema promote loyalty with gift cards
Loyalty software systems provider, Catuity Inc., and IT services company, SchlumbergerSema, are making a joint marketing and sales effort to promote loyalty with gift cards. Catuity's Loyalty OTC product is now running on the SchlumbergerSema MagIC 6000 and 9000 terminals. Loyalty OTC was introduced by Catuity last month, by building on last year's release of the smart Visa product and the addition of traditional magnetic stripe capability to its system. It allows merchants to add Catuity's range of marketing benefits to gift cards or loyalty cards.
According to industry sources, annual sales of gift cards are estimated to have already broken the US$20 billion mark. It is thought that by 2005 plastic cards will account for some four in five of the projected 850 million gift cards in use.