Multi-merchant, Multi-use Kostizi Card is now Open Loop
NEW ORLEANS — Today at the Association of Alternative Newsweeklies Conference (AAN), Kostizi, Inc. announced the imminent availability of the “Open Loop” version of the Kostizi card, enabling adoption of the Kostizi card by merchants without reprogramming Point of Sale (POS) terminals or installing new machines. The availability of an Open Loop solution from Kostizi allows any merchant that currently accepts standard credit cards to accept the new Kostizi card with simple registration and activation processes.
“Accurate redemption and helping our merchant partners is key,” said Kostizi CEO John Saltas. “With our Open Loop Kostizi solution, merchants can use existing credit card terminals or POS systems to verify the redemption of purchased offers. With this innovation, the managerial nightmare of paper certificates goes away. Offers are associated directly onto the Kostizi card from which customers can track their offer acceptance and redemption process. Merchants can validate, trace and redeem gift certificates, daily deal offers, tickets or coupons without a hassle.”
Consolidating the Dealspace with a Card
Kostizi helps traditional media companies stay in the game with a Dealspace platform that includes a Daily Deal engine, a Revenue Generation System, a partner-branded online store, print-at-home technologies, social media solutions, mobile purchase and redemption solutions, and more. It also allows for the creation of a broad-based “loyalty program” for a larger group of unrelated merchants that has been typically available for only similarly branded merchants before. Under this program, for example, restaurants can participate along side clothing or book stores in a commonly branded loyalty program. It does not conflict with existing “closed loop” loyalty programs, but broadens the marketing opportunities beyond the scope of the individual operations.
“For the foreseeable future, mag-striped card technology will remain the industry standard for most financial transactions,” said Saltas. “While emerging mobile redemption technologies are developing, many are merely electronic paper shredders. Because we can also tie into a merchant’s existing financial pipeline, the Kostizi Open Loop solution uniquely positions them to take full advantage of whatever mobile strategy becomes standard, too.”
The Kostizi Card program is the result of its partnership with Card Marketing Services (CMS) of Nolensville, TN and D2M Solutions of Bridgewater, NJ. CMS has been providing point-of-sale driven card services for over 60,000 business clients for over 18 years. D2M is a technology solutions provider.
Open Loop Kostizi Card Availability
The Kostizi Open Loop card is currently in beta test in the Salt Lake City area. The Salt Lake market is the first targeted for full roll-out of the card. Media partners can expect Kostizi Open Loop card general availability by the end of 3QCY11.
Founded in 2008, Kostizi is devoted to consolidating the dealspace to the benefit of partners, merchants, and consumers, and having fun in the process.
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