SOURCE: SOURCE, Inc.

July 06, 2006 15:28 ET

SOURCE Establishes the SCORE International LoyaltyShare Clearinghouse™

NEWHALL, CA -- (MARKET WIRE) -- July 6, 2006 -- SOURCE, Inc. announced today its official launch of the SCORE International LoyaltyShare Clearinghouse ("Clearinghouse") for matching, managing and rewarding loyalty transactions of participants in the SCORE LoyaltyShare Network™ ("Network").

The Network is made up of a diverse group of companies and organizations that have agreed to work together under the reciprocal guidelines of the Network. These Loyalty Providers add their members and merchant affiliates as well as their technology, products and services into the Network for added value, market reach and profit opportunities. This reciprocal, cooperation between competitors or "coopetition" is the business model SOURCE has adopted to build the Network.

The Clearinghouse is a vital component of the Network. It collects transaction data from participating merchant processors and card issuing banks from all over the world and uses that data to track, match and credit Network participants with rebate revenues and other rewards. "The Clearinghouse is designed to help reduce fraud and duplicate loyalty charges to merchants who participate in multiple loyalty programs at the same time," explained Richard G. Stewart, Jr. CEO of SOURCE. He went on to say, "It adds peace of mind to merchants who are afraid of having duplicate charges hit their accounts for the same loyalty transaction".

About SOURCE, Inc.

SOURCE, Inc., a Southern California company, is an owner of intellectual properties in the loyalty marketplace. SOURCE has built a reciprocal, loyalty platform and infrastructure and is currently uniting competing "Loyalty Providers" into a cooperative network in order to grow their businesses and increase their profitability using a "coopetition" business model. Loyalty Providers are companies that offer loyalty-related products, programs, technologies and services to their members and merchant affiliates. SOURCE is enrolling the best of these Loyalty Providers into its SCORE LoyaltyShare Network ("Network") and Clearinghouse. SOURCE has adopted this mutually beneficial, business model to establish the new LoyaltyShare Industry™. Using coopetition through the Network, Loyalty Providers are now able to offer the latest technologies, benefits, rewards and proprietary program models to their members and merchant affiliates. For example, SOURCE offers its Loyalty Providers the first-of-it's-kind, non-financial LoyaltyShare Card™. This proprietary card tracks loyalty transactions for both members and merchants. It can be private-branded and is able to track a member's purchases regardless of the form of payment they use (whether cash, check or any debit or credit card) across existing bankcard networks. Moreover, it provides loyalty tracking on just about any type of merchant rewards program and helps generate various levels of Customer Relationship Management ("CRM") for the merchant. For more information, visit www.sourceinc.tv or call Liana Stewart at 661-286-4334.

Contact Information

  • Contact:
    Liana Stewart
    661-286-4334