Here are answers to some of the most common questions we receive from executives across the country. If you have any further questions, please don’t hesitate to connect with SKUx today!
What is SKUPay™ and is it the same as a coupon?
Proprietary ONLY to SKUx, our end-to-end platform combines offer/product details, serialization, funding and settlement to create a risk-free consumer reward virtually fraud free. The result – new incremental revenue, improved efficiency and laser sharp transparency for all industry stakeholders – Retailer, Brand, and Marketers.
SKUPay is radically different than coupons, whether they’re digital or paper. It’s currency, not an IOU like a coupon. Turning offers into payments transforms the entire process of redemption, settlement and reporting and creates major benefits for consumers, retailers and brand marketers. Consumers gain opportunities to try new products and are rewarded for buying the products they love and need. Retailers and brands drive greater revenue and growth.
Why do consumers prefer to use SKUPay versus digital coupons?
At the end of the day, this is all about the consumer. It’s about putting more money in consumers pockets and making it easier and more fun to afford and pay for the products they want to buy.
Payment-based offers fit into the lifestyle of today’s consumers. Mobile payments are rapidly becoming the preferred way consumers want to do business and live their lives. The whole process is as seamless and simple as paying for your groceries or other purchases with a mobile phone. A consumer can capture a SKUPay offer from almost any channel a brand wants to use — email, store shelf, website, mobile ad, on-pack, display ad, you name it. The shopper simply redeems the offer as part of the usual payment process and they’re off to the next thing — a little richer and happier with the brand they bought and the store or e-retailer they shopped with.
Is the SKUx solution coming soon or currently active in-market?
SKUPay is currently in-market and powering results for some of the world’s leading brands, retailers and marketing agencies with new partners onboarding daily. The SKUPay solution is the combination of years or foward-thinking technology development and investment, led by some of the industry’s brightest minds, advisors, and most experienced retail leaders.
Is a third-party clearinghouse required?
No. SKUPay offers are currency, not IOUs like coupons so no clearinghouse is required. Payment happens in real-time at the time of the transaction.
How does the consumer receive their reward?
Nearly infinite ways. As a platform as a service, we are agnostic to audience type. Our partners can engage any audience they choose – by Text, Email, Mobile, Social, Web, Banner Ads, QR Code, etc. It’s up to you, so let your imagination run wild!
How long does it take for consumers to receive a SKUx-powered offer?
Nearly instantaneous. Offers can be delivered as fast as a text message sends or as fast as a webpage can load. Consumers receive the offer almost immediately and seamlessly. The entire process from issuance to redemption is available in real-time for SKUx partners, with save-to-wallet features and robust notification tools to help increase product redemption rates.
What happens if a consumer does not use their offer?
In the SKUx model, companies are not charged until the product is purchased. We have multiple innovative and patent-pending processes to manage funding – from receipt reduction to product-level cash back rewards. Regardless of the type or delivery method, our offers can always be traced one-to-one, eliminating fraud and ensuring ROI for partners.
When does the offer expire?
By default, offers will expire 12 months after activation but can be set in any time length as determined by the retailer, brand, or agency partner.
Where can consumers redeem their offers?
Anywhere mobile payments are accepted in the U.S. with international expansion coming soon.
I'm a retailer. Is POS integration required?
No. One of our main innovations is a core solution which does NOT require any point-of-sale integration. That said, additional features and benefits can be enabled when we work directly with our retail partners.
I'm a brand. What is the lead-time to activate a campaign?
We are ready to go live as soon as you are! All we need is your approved content. We understand the need for brands to stay nimble and flexible with their budgets in today’s unprecedented retail environment.
I'm a marketing agency. Can I create my own offers without utilizing a 3rd-party provider?
Yes. As a platform as a service, our goal is to empower your agency to be more effective and add more value and capabilities for your trusted clients.
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