SKUx has announced it has signed an agreement with Visa. The agreement will accelerate digital transformation for select merchants and consumer packaged goods companies that leverage SKUx’s payment-based offer solutions, supporting a variety of client use cases; from customer acquisition, to loyalty, to consumer care and recovery, while ensuring a seamless, end-to-end consumer experience.
SKUx is unlocking billions of dollars in value currently being lost to fraud and inefficiency. Through the company’s multi-patented digital payments platform, SKUx is rapidly advancing the outdated physical to digital process of checks, coupons, rebates, and promotional offers, solving long-term industry challenges for merchants, consumer brands, loyalty platforms, travel companies, healthcare providers, and beyond.
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The SKUx platform is being leveraged by several CPG brands
Benchmarked results have seen up to 85% reductions in paper checks, with digital delivery of customer payments provided in near real-time as opposed to days or weeks with physical offers, dramatically reducing costs, effort and fraud.
The SKUx Digital Payments Platform is designed to enable seamless virtual payments to consumers anytime, anywhere, regardless of the business objective. It allows companies to engage directly with their customers by delivering a client-branded real-time, Visa digital payment to a mobile device. Built on a highly sophisticated modern platform architecture, SKUx Digital Payments leverages Hedera’s leading enterprise distributed ledger technology (DLT) to track the issuance and redemption of payments, providing transparency in reporting.
The Visa and SKUx agreement will enable Visa clients the opportunity to engage directly with SKUx, driving value creation among B2B and B2C payment flows for merchants and manufacturers. This will help merchants drive customer acquisition, digitise customer care and recovery, and target product-level spend. SKUx complements and enhances Visa’s services to enable our mutual customers to stay at the forefront of innovation and interconnect the customer experience from “hello” to “buy”. Together, their interconnected solutions drive client and customer value upstream to deliver a low friction, more personalised commerce experience.
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