With these newly issued patents, ICN holds a unique ability to activate, validate and clear digital coupons in the cloud
North Haven, Conn. (PRWEB) August 19, 2015
Intelligent Clearing Network (ICN) today announced it has received two patents for systems that streamline the digital coupon process and allow retailers to validate manufacturers’ purchase requirements.
The first patent, U.S. Patent No. 9,070,133, builds on the foundation of the second generation of digital coupons from ICN’s original solution.
The second patent, U.S. Patent No. 9,098,855, has been issued for the electronic clearing and financial settlement of digital coupons.
“With these newly issued patents, ICN holds a unique ability to activate, validate and clear digital coupons in the cloud,” said Rich Thibedeau, EVP of Operations at ICN. “Our solution eliminates the need to define offers at the point of sale and all validation is performed on the ICN servers, which ensures the manufacturer’s purchase requirements have been completely satisfied.”
Manufacturers continue to tackle the abuse that comes from the combining of paper and digital offers, sometimes referred to as deal stacking. The ICN cloud solution resolves the issues of coupon arbitration and paper and digital coupon deal stacking. Through ICN’s single integration, the retailer can accept and process all digital and paper coupons, properly satisfying the manufacturers’ validation requirements. This ensures quick and proper payment to the retailers.
ICN’s cloud solution validates manufacturers’ purchase requirements from a hosted service and a comprehensive clearing solution to both retailers and manufacturers, including validation of the GS1 Databar as well as System 5 and other custom retailer barcodes. The GS1 Databar validation capabilities include validating serialized coupons to prevent print at home coupon fraud.
The ICN solution removes the need to define digital offers on the retailer point-of-sale (POS) system; eliminates the need to manage and download offer definitions to the POS from different vendors; and reduces the use of velocity codes.
ICN’s coupon validation in the cloud solution provides a number of services needed by retailers, including family code level validation and real-time fraud protection in an efficient manner, without the retailer having to manage data files to their stores. The system can audit the electronic record against the paper coupons turned in by each store and will automatically report any discrepancies.
About Intelligent Clearing Network:
ICN is an innovative software-as-a-service (SaaS) company that electronically validates and clears paper, trade, and digital coupons in the cloud for grocery, drug and mass merchant retailers. ICN’s single connection to a retailer point of sale can help solve the growing problem of mis redemption, mal redemption and fraud for the coupon industry. For more information: http://www.icn-net.com.
Intelligent Clearing Network