Streamlining Card Loyalty April 10, 2008 Chockstone introduces new credit and debit card loyalty identification program
By Jeanie Casison
Overstuffed wallets with multiple merchants' loyalty cards may soon be a thing of the past. Chockstone, a marketing and technology provider in Portland, Oregon recently introduced SingleSwipe, a unique identification program that will link merchant loyalty programs to a customer's existing credit or debit card. So instead of scrambling to find a loyalty card, consumers can simply pull out their credit or debit card at retail and keep up with their rewards.
"SingleSwipe will allow consumers to get more functionality from their existing credit and debit cards. With SingleSwipe, consumers can keep their wallet slim because they don't have to carry around cards for their loyalty programs," says Jeff Lipp, CEO for Chockstone. "They can go into their favorite sandwich shop, pull out their credit card and a single swipe identifies their favorite rewards programs, enabling them to earn credits and receive special offers."
American Express, Discover, MasterCard, Visa can all be used for SingleSwipe, as long as the merchant accepts it as a form of payment. In a few months, cardholders will be able to register their cards of choice for payment and loyalty transactions through participating merchants. Privacy will not be an issue as Chockstone maintains and processes all data throughout its network and platform in compliance with the Payment Card Industry regulations, ensuring protection of credit card numbers and transaction data.
Not only does SingleSwipe offer consumers convenience, the technology also enables merchants to track their customer preferences which will help them to create better promotions and offers—ultimately attracting more interest in loyalty programs for the long-term.
"SingleSwipe will also help to increase participation in loyalty programs. As more people are engaged in programs, this will result in more targeting, which will drive incremental profitability for merchants," says Lipp."It's all about collecting data, and being smart with the data to make the right offers, to the right person at the right time."
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