Makers of S&H Green Stamps Make a Play for Online Business

Remember S&H Green Stamps, that venerable loyalty currency introduced in 1896? Well, it’s making a comeback, if new investors have anything to say about it.

These new investors, led by a member of the founding Beinecke family, are launching S&H greenpoints.com, their entry into the online loyalty marketplace.

“S&H greenpoints is a complete marketing tool for retailers,” says Rod Parker, president of S&H greenpoints.com.

“It represents the most valuable branded digital rewards currency available, offers both online and offline ways to earn and redeem points, and offers consumers a convenient and universal way to earn rewards.”

Consumers earn S&H greenpoints for their purchases in three ways by shopping at an authorized bricks-and-mortar merchant, by using the S&H greenpoints credit card, or by shopping online through S&H greenpoints’ portal.

Those points can then be redeemed for rewards or donated to charity through an alliance with the United Way. The rewards include movie tickets, CDs, travel options, or other merchandise.

S&H greenpoints has the benefit of a nostalgic name, but it’s arrived late at the online loyalty game. More established players include MyPoints.com, FreeRide.com, Promotions.com CyberGold, and Netcentives.

The company has forged offline relationships with a few retailers, such as Foodtown (a metropolitan New York-based grocer), Virginia-based Red Front Super Market and J&J Food Center in Pontiac, Michigan. And letters of intent have been signed with online partners more.com and ShopEaze.com. But S&H greenpoints.com has a lot of catching up to do, if it plans to make a serious play.