Dexit Adds Loyalty Offering to Payment Platform

Canada's Dexit has announced an agreement with SMART System Technologies to integrate the Dexit prepaid payment service and SST's loyalty product into a single offering.

"Dexit offers everyday small value payment services and welcomes the opportunity to provide its current and future customers with loyalty services by partnering with SST," said Renah Persofsky, President and CEO of Dexit.

"SST meanwhile provides loyalty services and now has the opportunity to extend its product line by providing its customers with the Dexit prepaid small value payments service through Dexit. This is very much a case where the sum will be greater than the total of the parts. Given SST's position in the United States, we view this arrangement as a critical next step to entering that market."

Separately, Dexit announced its financial results for 2004. Revenues were C$1.76 million with 47,000 registered consumers and 350 merchants accepting Dexit.