Giving Creditz where Creditz is due

Transactions for a new digital currency company will be handled with IBM software, servers and hosting services. Digital currency company CEO America, Inc.and CEO Creditz Inc. recently signed a $1.1-million agreement with IBM that includes hosting the loyalty and micro-payment service at IBM’s Toronto Global Services Data Centre. (CEO America, Inc., Las Vegas, is the exclusive master licensee for the United States of the Creditz System and CEO Creditz Inc., Toronto, is the exclusive master licensee for Canada.)

The Creditz service provides a digital currency card that allows consumers to make payments for anything from a postage stamp to a luxury car. With each payment, users earn Creditz that can be spent on whatever they want. Creditz also allows those who collect frequent flyer and retail buyer points to aggregate and exchange points for shopping, dining, paying bills, boosting retirement funds or making donations to nonprofit organizations.

“IBM is providing the scalability, reliability and security Creditz requires to deliver our on-demand 21st-century payment solution,” said David Vaters, Creditz Chairman and President. “Creditz will deliver to retailers, manufacturers and service providers a revolutionary cost-effective business tool unavailable until now.”

Creditz aims to eliminate the high startup costs that merchants face with loyalty programs. By obtaining the necessary IT infrastructure from IBM and supplying it as needed, Creditz can charge merchants on a pay-per-use basis.