Portland, Ore. - Chockstone, a provider of customer loyalty marketing programs, announced that it has acquired Peppercoin, the developer of an online micropayments system and provider of card-based merchant loyalty programs.

Financial terms of the deal were not disclosed.

Waltham, Mass.-based Peppercoin was founded in 2001 and secured over $15 million in three rounds of venture capital financing.

The company initially marketed its micropayments technology to online retailers, but had more recently shifted its focus to the financial services market.

More than 30,000 retail locations are using Oregon-based Chockstone's loyalty marketing, gift card and payment programs worldwide. Customers include Subway, Ticketmaster and Plaid Pantry Stores.

"This is a strategic acquisition for Chockstone," said Chockstone president and CEO Jeffrey Lipp. "Peppercoin's focus on delivering targeted offers to credit and debit card customers to increase frequency for restaurant companies is a perfect fit with our business."

Related Links:
http://chockstone.com/media/CS_PR_Peppercoin.htm