Strategic partnership is an important step towards a completely digitized coupon ecosystem
SAN FRANCISCO – MobilityWire® – August 24, 2012
Mobeam inc. (www.mobeam.com) and ProLogic (http://www.prologicredemption.com/) today announced the two companies have formed a strategic partnership to enable the processing of digital coupons on mobile devices. Through this partnership, mobeam and ProLogic are working to integrate their technologies to close the gap that exists between the digital coupons available today on consumer mobile devices and their redemption at point of sale, including the back-end processing by retailers.
Combining mobeam’s light-based beaming technology and ProLogic’s Digital Coupon Clearing solution will create a completely digitized coupon system for consumers and retailers. Consumers can acquire and redeem coupons digitally, and retailers can digitally process and clear the coupon to complete the transaction loop
“Real digital coupons – those that can be digitally displayed and redeemed at checkout via a mobile device – hold enormous value for consumers, retailers, and the brands offering the coupons,” said Chris Sellers, mobeam CEO. “Someday soon, we will look back at the archaic way we used to present, redeem, and process coupons and wonder why it took us so long to go purely digital. This partnership is a giant leap to get us there.”
Mobeam’s technology makes digital coupons and other content presented on a mobile device universally scannable by every point-of-sale (POS) system. The company’s patented light-based technology solves for the current inability of mobile phones to work at existing POS systems by turning barcode data for coupons, content, or offers into a beam of light that can be read by barcode scanners present at store checkout counters around the world. No additional point of sale equipment is needed.
Once a coupon or offer is presented at POS and is digitally redeemed by a shopper, ProLogic’s exclusive Digital Coupon Clearing solution will ensure optimal processing speed and accuracy at the lowest cost for retailers and brands, completing the purely digital coupon process.
“ProLogic has always been the retailer’s advocate for coupon clearing and with the rise of mobile technology we are leading the drive towards digital coupon processing as the industry evolves,” said Ross Ely, president and CEO, ProLogic. “Mobeam is the perfect complement to ProLogic’s clearing and settlement system, and together these technologies will drive the evolution of the coupon to a purely digital state, which benefits everyone in the retail economy.”
A purely digital coupon ecosystem will provide significant benefit to key stakeholders:
Consumers will be able to collect and manage coupons received electronically and redeem them using their phones at the point of sale. Currently, coupons received electronically either have to be printed to be redeemed, downloaded to a loyalty card or a checkout clerk has to manually enter in a coupon code. Not only will a shopper using a purely digital coupon benefit, so will all the shoppers standing behind them in line.
This partnership will enable North American retailers to accelerate the adoption of purely digital coupons, without any hardware changes at POS. Because coupons will be submitted and redeemed digitally, purely digital coupons will increase efficiency and reduce overall costs.
Purely digital coupons also provide more extensive analytic capabilities, allowing better measurement of campaign effectiveness, reducing coupon fraud, and driving efficiencies in distribution, purchase validation and processing.
Mobeam, inc. is transforming mobile commerce with its unique and patented light based communications technology. The company was recently named one of the fastest growing technology companies in San Francisco for 2012 by business research firm Lead411. Overcoming the technical barrier preventing mobile phones from interacting with laser scanners at checkout, mobeam’s technology provides universal access at point of sale (POS), enabling the transmission of coupons, loyalty offers, gift cards, tickets and other barcode data at retailers worldwide. Mobeam’s technology creates new capabilities for existing mobile phone designs, and requires no changes to retailer POS infrastructure. Mobeam is headquartered in San Francisco, California. For more information visit www.mobeam.com.
ProLogic Redemption Solutions is one of the industry’s leading coupon processors and clearinghouses—and the industry’s only advocate for the retailer. The company’s 1,100 employees serve over 20,000 of the nation’s leading retail stores, restaurants and pharmacies. ProLogic expedites the processing of coupons, invoicing to the manufacturer, and payment to the retailer, ensuring integrity, governance, metrics and transparency throughout the coupon process. ProLogic is headquartered in Bloomington, IN. Visit the company’s website at (http://www.prologicredemption.com/)
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