Xiang Xu, global COE leader of digital strategy and blockchain at Mondelēz International, and SKUx CEO and co-founder Bobby Tinsley recently sat down with PYMNTS’ Karen Webster to discuss how distributed ledger technology (DLT) and blockchain advances are providing groundbreaking steps forward for the retail and payment-based offer ecosystems.
Technology has the power to reshape industries, and in the world of retail promotions, DLT is doing just that. By replacing outdated paper-based systems, Mondelēz International and SKUx are using DLT to bring real-time, digital engagement to consumer promotions.
Historically, promotions like coupons have relied on slow, inefficient legacy processes—taking up to months to redeem and settle with little tracking of consumer data. Now, Mondelēz and SKUx have developed a digital solution, allowing consumers to redeem promotions in seconds with a simple click. This shift not only streamlines the process but also brings immutable transparency to each transaction through distributed ledger technology, through a multi-patented process.
SKUx CEO Bobby Tinsley sees this as the future: “The future of promotions is payments, and the future of consumer engagement is the mobile device.” By making promotions instantly accessible and secure, it appeals to both Gen Z and Gen X audiences, moving seamlessly into the digital landscape.
Additionally, the partnership’s platform integrates with loyalty programs, allowing brands to tailor promotions that can be redeemed on multiple payment networks and regions, agnostic to payment type. As Mondelēz and SKUx expand into international markets, they’re not only scaling a faster, more cost-effective system but also building consumer trust and engagement in completely new ways not previously available to legacy providers.
Read the full article on PYMNTS.com