SKUx, a leader in digital instant payments innovation, today
announced it has signed an agreement with Visa (NYSE: V), a world
leader in digital payments. 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 revolutionizing the consumer offer industry, 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platform, SKUx is rapidly advancing the outdated physical to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. The SKUx platform is being leveraged by
several of the world’s leading 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 unparalleled 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, digitize
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, our
interconnected solutions drive client and customer value upstream
to deliver a low friction, more personalized commerce
experience.
“SKUx is privileged to announce our work with Visa as we expand
upon what is already shaping up to be an incredible year of growth
in 2024,” said Bobby Tinsley, co-founder and president at SKUx.
“SKUx is committed to driving unparalleled value and opportunities
for our clients. We look forward to success together.”
Visa clients looking to learn more about SKUx and the innovative
payment solutions the company provides can visit
skux.io/skux-visa/.
About SKUx
SKUx powers promotions and item-level payments at the speed of
today’s consumer. With mobile phones, bar codes, virtual cards and
app-based payments now ubiquitous tools of commerce, SKUx’s Digital
Payments Platform provides flexible, end-to-end solutions to
deliver value directly to customers. SKUPay® is a revolutionary
tool for merchants to eliminate consumer friction in
product-specific payment acceptance for use in CPG, health
benefits, travel/entertainment and other industries. SKUx Digital
Payments is a suite of tools which provide multi-channel payments
for company promotions, loyalty and benefits at the point of sale.
The SKUx platform combines first-party data, mobile branding, DLT
serialization, secure digital payments and settlement and other
technology to deliver a seamless consumer experience and real-time
transparency for merchants, brands, and payment partners. For more
information, visit skux.io
Forward-Looking Statements
This release contains “forward-looking statements” within the
meaning of the U.S. federal securities laws. Statements that are
not historical facts, including statements about anticipated
business and financial outcomes, including any projections of the
Company, projected revenue or expense synergies, business and
market conditions, outlook, the Company’s sales pipeline and
anticipated profitability and growth, the outcome of our
comprehensive assessment referred to in this release, as well as
other statements about our expectations, beliefs, intentions, or
strategies regarding the future, or other characterizations of
future events or circumstances, are forward-looking statements.
These statements may be identified by words such as “expect,”
“anticipate,” “intend,” “plan,” “believe,” “will,” “should,”
“could,” “would,” “project,” “continue,” “likely,” and similar
expressions, and include statements reflecting future results or
guidance, statements of outlook and various accruals and estimates.
These statements relate to future events and our future results and
involve a number of risks and uncertainties. Forward-looking
statements are based on management’s beliefs as well as assumptions
made by, and information currently available to, management.
Actual results, performance or achievement could differ
materially from those contained in these forward-looking
statements. Other unknown or unpredictable factors also could have
a material adverse effect on our business, financial condition,
results of operations and prospects. Accordingly, readers should
not place undue reliance on these forward-looking statements. These
forward-looking statements are inherently subject to uncertainties,
risks and changes in circumstances that are difficult to predict.
Except as required by applicable law or regulation, we do not
undertake (and expressly disclaim) any obligation and do not intend
to publicly update or review any of these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240516459847/en/
Bobby Tinsley – SKUx Co-founder and President bobby@SKUx.io
Trisha Asgeirsson – SKUx Chief Revenue Officer
Trisha.asgeirsson@skux.io
Ralph Darmo – Visa Global Merchant, Partner, Cobrand
rdarmo@visa.com
Sydney Anunda – Visa Manager, Strategy & Operations
sanunda@visa.com
Kevin Sugarman – Public Relations & Media Requests
ksugarman@globalfluency.com 408.966.4852
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