FORTH WORTH, Texas, Sept. 22, 2021 /PRNewswire-PRWeb/ -- SigmaLedger, a blockchain-powered platform focusing on supply chain transparency and counterfeit prevention, today announced the launch of a collaboration with The Coupon Bureau (TCB) to provide Universal Digital Coupon validation for retailers. SigmaLedger is in the process of testing retailer integrations for the new 8112 format, which empowers consumer mobile savings and mitigates coupon fraud. Experiencing an 90% reduction in counterfeit acceptance across their connected retailers with their counterfeit service for 8110 paper offers (CuBE), SigmaLedger is expanding their service to include 8112 Universal Digital validation. SigmaLedger is currently protecting from 8110 paper coupon fraud in more than 10,000 stores in the US, and is looking forward to repeat the success for 8112 Universal Digital Coupons.
The Coupon Bureau, a non-profit, industry managed coupon data exchange platform, manages the new coupon standard known as AI (8112). By partnering with TCB, SigmaLedger enables retailers to easily start accepting these supplier-funded digital coupons. SigmaLedger does this through their existing retailer integrations via the CuBE counterfeit protection service. By handling the integration on behalf of retailers, they significantly reduce costs and the need for retailers to use in-house IT resources.
As more and more Universal Digital Coupon offers are distributed in 2021, retailers are eager to enable their validation & redemption capability to capitalize on this new supplier funded promotional tool. With 35% of female shoppers opting not to use store loyalty programs, retailers are eager to engage this audience via mobile redemptions at point of sale. Further, retailers now have the opportunity to relieve some of the administrative and fraud challenges associated with legacy paper coupons.
"We are happy to support industry adoption of innovative 8112 standard," said Oleksandr Rivkind, CEO of SigmaLedger. "Universal digital coupons validation is the natural extension of the CuBE paper coupon capabilities. We are excited to offer unified solution for both 8110 and 8112 to our retailers".
"We're so excited to partner with SigmaLedger to support their efforts in protecting retailers from coupon fraud. By combining their 8110 paper coupon validation with the new 8112 validation, retailers will see a significant reduction in counterfeit and misredemptions. Shoppers will benefit greatly by the added convenience and savings, and their merchant partners will gain a significantly greater share of CPG promotional dollars. We are very much looking forward to their retailer connections in the near future," said Brandi Johnson, CEO of The Coupon Bureau.
SigmaLedger is a SaaS provider of blockchain-powered innovative solutions focusing on counterfeit prevention, supply chain transparency and digital direct marketing. For additional information please contact us at [email protected].
For more information visit: http://www.sigmaledger.com
About The Coupon Bureau:
The Coupon Bureau's mission is to connect manufacturers, retailers, and consumers through technology and community, to build solutions to the issues of real time validated, retailer agnostic coupons and fraud prevention. A non-profit corporation, TCB works with members of leading coupon and retail associations - ACP, JICC, FMI (The Food Industry Association), GMA, CONEXXUS, Consumer Brands Association, and GS1 US - to develop new technology, support third-party technologists, deploy educational programs for industry stakeholders, and give back to the community.
For more information visit http://www.thecouponbureau.org
Jeff Hudson, The Coupon Bureau, +1 800-646-7401, [email protected]
SOURCE The Coupon Bureau