CEO Creditz, the exclusive Canadian licensee of CREDITZ Digital Currency, has confirmed it will be adding a contactless RFID application to its electronic micro-payment and loyalty system.

The company says this new addition to the CREDITZ system will provide its account holders with increased convenience and a faster transaction time at participating CREDITZ retailers.

The new system is powered by IBM Series I Technology.

David Vaters, founder of the Creditz System, says: "With CREDITZ RFID consumers can sign up free, get paid to shop and will be able to enjoy the speed, convenience of contactless payments. As the first payment system designed for the 21st century digital economy, we are pleased to be able to integrate RFID into our micro-payment, loyalty and marketing solution for merchants and their customers."

He adds: "We have been developing the micro-payment capability of the Creditz System and are now ready to market and deploy in an exponential way with payment industry partners in Canada. The system allows for the efficient purchasing of items under $5.00 at retail, so quick service restaurants, convenience stores and municipal transportation systems are a natural fit for our new capability."