THE "WAVE" OF THE FUTURE IS HERE AS THE POWERPAY™ CASHLESS PAYMENT AND LOYALTY MARKETING SYSTEM LAUNCHES NATIONALLY
NFL's Philadelphia Eagles and Seattle Seahawks Are First To Adopt PowerPay; Other Deals Pending Nationwide
New York, NY (July 15, 2004) - Smart System Technologies, Inc. (SST) announced today the national launch of PowerPay, a secure, consumer-focused payment and marketing solution that provides teams, entertainment venues and merchants with a tool to deliver meaningful rewards to their customers, while speeding the time it takes them to make a transaction.
With PowerPay, consumers enjoy an easy, secure, cashless and contactless transaction that's completed in as little as five seconds by simply waving a PowerPay tag in front of a PowerPay reader, which uses radio frequency identification (RFID) technology to "read" the tag. At the same time, teams and merchants that adopt the technology can deliver automatic rewards to consumers who use PowerPay at the moment of the transaction. For teams such as the NFL's Philadelphia Eagles and Seattle Seahawks, who are adopting the technology this season after successful in-season tests last year, this includes rewarding points to consumers that can be accrued and redeemed for team-themed experiences or merchandise, and offers from other participating sponsors.
Concession and merchandise areas throughout Philadelphia's Lincoln Financial Field will be equipped with the PowerPay system beginning July 28 at the Manchester United - Glasgow Celtic soccer match, and is already available on the club level of Seattle's Qwest Field for all events, including Seahawks games, major concerts and other events. PowerPay tags are available immediately and free-of-charge to consumers throughout Philadelphia and Seattle, including but not limited to ticket holders to Eagles or Seahawks games, by visiting www.MyPowerPay.com or by calling (866) 362-5489 toll free. Eagles fans can also visit www.EaglesExtraPoints.com.
SST will soon deploy the PowerPay system to other teams, sports and entertainment venues and merchants throughout the nation, including cash-intensive retailers such as quick-service restaurants, movie theaters, grocery chains, pharmacies and convenience stores.
Results Demonstrate PowerPay's Effectiveness
The Philadelphia roll-out follows a successful in-season test of PowerPay on the club levels at Eagles and Seattle Seahawks home games last season. In both facilities, the average PowerPay transaction was more than twice as fast as cash and almost six times faster than a credit or debit card. Both facilities also experienced revenue increases resulting directly from the PowerPay system. A New York University Stern Business School study following the 2003 NFL season found that 83 percent of PowerPay users ranked themselves as "extremely satisfied" with the PowerPay solution.
Mark Donovan, senior vice president of business development, Philadelphia Eagles, said: "Our priority is to provide our fans the very best experience from the moment they enter Lincoln Financial Field to the moment they leave. PowerPay proved itself last year as a flawless and secure system on our Club level. Our investment in the full stadium deployment allows us to offer our fans a no cost service that will enhance their in-stadium experience."
John Rizzardini, vice president of marketing for the Seattle Seahawks, said: "Our experience with PowerPay has been a win-win for the Seahawks and our fans, who love it. We're looking forward to expanding our relationship with PowerPay in the future."
Mark Johnson, CEO of Smart System Technologies, said: "Based on terrific fan reaction with two NFL teams, we are thrilled to formally introduce PowerPay to the Philadelphia marketplace and to continue our relationship with the Seahawks. These teams have experienced the potential of PowerPay first-hand and are highly committed to enhancing the fan experience."
Combining Great Rewards With An Easy Payment Tool
PowerPay was specifically designed for sports fans and consumers who want to receive valuable offers designed specifically for them, combined with a quick and easy payment tool. In addition to being incorporated into the new Eagles MBNA MasterCard, PowerPay may be linked by consumers to any of their existing credit card, debit card or checking accounts. Additionally, PowerPay users continue to receive all the benefits of mileage and other rewards programs already associated with those existing accounts, while adding the reward opportunities associated with their PowerPay program.
"After years of research, we have taken great care to build a powerful marketing solution that builds customer loyalty, increases fan satisfaction, strengthens brand equity and enables stronger promotional platforms on both local and national levels than was previously available," Johnson said. "The real 'power' of PowerPay lies in the marketing potential of the system. Purchase information can now be merged with customer demographic and affinity information in real-time. As a result, venues and retailers enabled with PowerPay can deliver rewards to consumers automatically 365 days a year."
For example, a movie theater chain could potentially send an email or text message that informs a specific segment of its PowerPay customers that, if they purchase a movie ticket that day or weekend, those customers will automatically be rewarded with a food and beverage reward. No paper coupons or barcode discount cards would be necessary, as the eligible PowerPay users would receive the offered discount automatically when they wave their PowerPay tag at the point of sale.
"The coalition marketing opportunities for PowerPay-enabled retailers and venues are limitless," said Johnson. "Cash-intensive businesses will now have the opportunity to understand the buying preferences of the thousands of otherwise anonymous consumers walking through their stores each day, and deliver to them more individualized promotional incentives."
While the use of demographic and purchase behavior information will help PowerPay-enabled businesses create the best rewards possible for their customers, the security of personal contact information is of the utmost importance to SST.
Johnson said, "PowerPay users are assured that their personal information is always protected and never exposed to third parties without their permission. Furthermore, SST has combined state of the art chip-level and cryptographic technologies with a proven, scalable and secure hosted solution that makes the system safe and reliable for nationwide deployment."
About Smart System Technologies, Inc.
Founded in 2003, Smart System Technologies, Inc. (SST) is a private company based in New York City. Led by a management team comprised of senior executives from the marketing, technology, financial services, entertainment and sports industries, and funded by leading venture firms, the company focuses on creating marketing and financial systems solutions for global and national organizations and companies. Its PowerPay cashless payment and CRM system, launched nationally in 2004, provides a quick and rewarding cashless payment experience to consumers, and a powerful marketing tool to sports properties, venues and retailers. For more information about SST and PowerPay, visit www.PowerPayIt.com.