SKUx, a pioneer in digital instant payments, has forged a strategic alliance with Visa, the global frontrunner in digital payments. This collaboration aims to expedite the digital transformation efforts of specific merchants and consumer packaged goods (CPG) companies by utilizing SKUx’s payment-based offer solutions.
These solutions are meticulously designed to enhance various client operations, including customer acquisition, loyalty programs, consumer care, and recovery processes. By implementing these solutions, the partnership aims to ensure a seamless, uninterrupted end-to-end consumer experience.
This partnership marks a significant milestone for SKUx in revolutionizing the consumer offer industry, which currently suffers substantial losses due to fraud and inefficiency. The company’s multi-patented digital payments platform is revolutionizing the outdated process of issuing physical checks, coupons, rebates, and promotional offers.
By digitizing these processes, SKUx addresses long-standing challenges for a wide range of industries, including merchants, consumer brands, loyalty platforms, travel companies, and healthcare providers.
This innovation has yielded remarkable improvements, such as an up to 85% reduction in paper checks and near real-time digital delivery of customer payments — a vast improvement compared to the days or weeks required for physical offers.
The SKUx Digital Payments Platform is ingeniously designed to facilitate seamless virtual payments to consumers under any business objective, anywhere and anytime. This platform empowers companies to directly engage with their customers by delivering branded, real-time Visa digital payments to mobile devices.
Built on a cutting-edge and sophisticated platform architecture, SKUx Digital Payments utilizes Hedera’s enterprise-grade distributed ledger technology (DLT) to track payment issuance and redemption. This approach offers unparalleled transparency in payment tracking and reporting, enhancing the overall reliability of digital transactions.
The collaboration between Visa and SKUx will empower Visa’s clients to directly access SKUx’s innovative solutions, fostering value creation in both B2B and B2C payment flows for merchants and manufacturers. This initiative will assist merchants in driving customer acquisition, digitizing customer care and recovery processes, and targeting product-level spending.
SKUx’s solutions are meticulously designed to complement and enhance Visa’s existing services, enabling their mutual customers to maintain a competitive edge in innovation and seamlessly connect the entire customer journey from initial contact to purchase. This integrated approach aims to deliver a seamless, personalized commerce experience that adds value for clients and customers alike.
Bobby Tinsley, co-founder and president of SKUx, expressed his enthusiasm about the partnership, stating that it adds to what is already anticipated to be a year of significant growth in 2024. “SKUx is dedicated to delivering unparalleled value and opportunities for our clients,” said Tinsley. He highlighted the company’s excitement about the prospects of working with Visa and the expected success of their joint endeavors.
As SKUx and Visa forge ahead with this partnership, they aim to redefine the landscape of digital payments and consumer engagement. By leveraging their combined expertise and innovative technologies, they are poised to deliver solutions that not only meet the current demands of the market but also anticipate future trends.
This proactive approach ensures that both SKUx and Visa will continue to lead the way in creating integrated, value-driven digital payment experiences for merchants, CPG companies, and consumers alike.
