Timex Watch First Ever to Feature Speedpass
Just Released in Test, Timex Watch First Ever to Feature Revolutionary Speedpass System
FAIRFAX, Va.--(BUSINESS WIRE)--Feb. 27, 2002--
Fill Up Your Tank or Your Tummy with
Just a Wave of Your Wrist (Watch)
New technology may soon allow you to carry your wallet on your wrist, and purchase everything from gas at the pump to fries at McDonald's simply by waving your watch. It will mean the ultimate in convenience, without the need to carry cash or credit cards.
Just released in test, the new Speedpass(TM) Timex watch looks and functions just like a regular watch. But -- shades of Dick Tracy -- inside the timepiece is a miniature Speedpass radio frequency transponder that is capable of allowing customers to instantly pay for purchases at Exxon and Mobil gasoline stations nationwide and at over 400 Chicagoland McDonald's restaurants. The new watches will be tested in the Chicago area over the next two months.
Today, most Speedpass customers use a miniature device that attaches to a key chain. The new Speedpass-enabled watch gives customers a hands-free option that allows them to pay for purchases by simply waving their watch in front of an electronic reader located at the pump, the checkout counter or the drive through.
"Timex is committed to the philosophy of helpful innovation through watch advancements that truly make life a little easier, a little less complicated," stated Phil Brzezinski, director of advanced products at Timex. "We are equally committed to working with the best technology partners. The new Timex watch with Speedpass is an excellent example of a watch where those two strategies come together to benefit the consumer."
"With the new Speedpass-enabled Timex watch, we are bringing new and exciting ways to shop to retailers and customers," explained Mike Goldberg, president, Speedpass Network. "With Speedpass, the result is faster-moving lines at in-store checkout and at drive-through locations, smoother customer traffic flow during peak shopping times and, most importantly, improved customer service and satisfaction."
ExxonMobil (NYSE:XOM) research reports that more than 92 percent of the 5 million people who use Speedpass devices are highly satisfied with the technology. First introduced in 1996 at the fuel pumps of Mobil-branded service stations, Speedpass is now accepted at over 7,000 Exxon- and Mobil-branded service stations and 400 Chicagoland McDonald's. Drug, grocery and video chains may also soon be equipped with the Speedpass system.
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