Dexit is a rechargeable, contactless, stored-value smart key tag used for electronic payment in on-line or off-line systems in Toronto, Canada, since 2003.
Instead of coins or cards (and PIN), Dexit uses an RFID key tag device associated with funds transferred from ordinary bank accounts. There is no link to access the accounts from the key tag, a feature to guard against the abuse of lost key tags. Accounts can be filled up from the Dexit website, by telephone, at participating merchants, or through pre-approved bank account or credit card balance transfers.
A partnership between small retailers, Dexit Inc., TD Canada Trust, National Bank of Canada, Telus Mobility, Bell Canada in Toronto's downtown, and a few retailers in and around Toronto. There were plans to expand to the rest of Toronto in 2005; however, this does not appear to have occurred.
In the summer of 2006, Dexit announced a restructuring, and nearly all payment terminals have been removed from stores. Dexit is also offering refunds of all funds that have been stored on Dexit Tags.
Frugality has made a comeback. Beaten down by the recent Great Recession, Americans are showing an enthusiasm for thriftiness not seen in decades. This behavioral shift isn’t simply about spending less. The new frugality em- phasizes stretching every dollar. It means by- passing the fashion mall for the discount chain store, buying secondhand clothes and furni- ture, packing a lunch instead of eating out, or trading down to store brands. Consumers are clipping more coupons and swiping their credit cards less. Says one analyst: A shift in behavior has taken place. Consumers across all income segments have responded to the economy by reining in spending, postpon- ing big purchases, and trading down when possible. Above all else, they’re seeking out the best value for their money. Marketers must take a different tack to reach these increasingly pragmatic consumers: Forego the flash and prove your products’ worth....
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