Thursday, 18 October 2007

Loyalty & Payments Redefined

Imagine walking into a shopping mall on a bright Sunday afternoon, checking out the latest personalized offers available at your favourite stores, buying clothes and leveraging your gold loyalty membership, indulging in a beer and a sumptuous Thai lunch at your happy hours hangout, and ending the day with a new movie at the multiplex. Quite a pleasant afternoon. Now imagine this without your wallet. No cash in hand, none of your eight debit and credit cards or 15 loyalty cards.

Sounds rather futuristic? Not exactly. There is a mini revolution of sorts under way in North America (which I’m hoping will spread and come to the rescue of forgetful souls such as myself) that leverages the power of biometrics in making the above a reality.

Managing a large loyalty programme over the customer life cycle is a huge challenge for big retailers.

Paybytouch which enables customers to register themselves with their fingerprint and link their payment (credit and debit) cards and loyalty cards. On having completed their shopping, registered customers can simply authenticate themselves at the cash register using their fingerprint, select the payment mode of their choice and complete their purchase.

To

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