Welcome Real-time, a French company that makes smart card loyalty software, has introduced a product that lets people download electronic coupons onto smart cards and use them in traditional stores.

The company, based in Aix-en-Provence, is marketing the technology to banks and credit card issuers in the United States and Europe. Some of these companies are considering setting up a smart card program, and others - like American Express Co. - have already done so. Cardholders would go to the financial services company's Web site to get the coupons.

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