(FORTUNE Magazine) – Last month, FORTUNE got an invite to attend the digital rebirth of Sperry & Hutchinson Green Stamps. We were intrigued--the old company that let Americans exchange stamps for merchandise (making "lick and stick" an acceptable family activity) was holding its digital coming-out bash at Manhattan's Studio 54, infamous for disco-era debauchery.

Turns out we were a bit disappointed. With the Everly Brothers wafting over the speakers, partygoers mingled over greenpoints (think Midori martinis). The company announced its new name (S&H greenpoints.com) and its Website, www.greenpoints. com. Collectors can check their accounts online and get points on affiliated sites.

Even so, some things haven't changed. Patience is still a virtue. Customers get ten points per dollar spent on the Web; 2,400 greenpoints ($240) earns a $5 gift certificate at Wendy's; 93,600 ($9,360) gets a maple-finish wine cabinet. Even the choice of Studio 54 for the company's relaunch doesn't signify new hipness. As executive VP Walter Beinecke III explained, "They don't have Cabaret on Monday nights."

--Jane M. Folpe