Ebony introduces e-currency  ( January '9,2001, HBL)

Ebony, the chain of department stores, has introduced its own currency -- Ebony Dollars. This new payment will be accepted at Ebony stores in New Delhi (South Extension, Rajouri Garden), Noida, Chandigarh and Ludhiana. Shoppers at Ebony will be eligible to collect Ebony dollars (E-currency) in denominations of Rs 25, Rs 50, Rs 100, Rs 500 and Rs 1,000 from the Elite Club Desk.

The value of these dollars would be equivalent to 10 per cent of the amount of purchases made by the person. Valid for 90 days, this E-currency can then be used as discount coupons on future purchases made by the person, with the Ebony dollar being used in place of the actual currency during payment. So if the bill amount is Rs 600, and the person has an Ebony Dollar worth Rs 50, he could pay Rs 550 in actual cash and Rs 50 in the form of E-currency.

All subsequent purchases would once again entitle the shopper to dollars worth 10 per cent of his bill amount. And these dollars could continue to be substituted for rupees. A press release, quoting Mr B.S. Narula, Executive Director, Ebony Retail Holdings Ltd, said, ``We at Ebony are constantly trying to enhance the shopping experience for our customers. Ebony Dollar is a fun way to shop wherein bills for purchases made can be paid with this currency instead of actual rupees. Because there are more Ebony dollars to be earned with every purchase, the incentive to come back and shop with us is also high.