Mr. Mark Elfenbein reports

SLYCE LAUNCHES "SNAP-TO-COUPON" CAPABILITY AND DIGITAL COUPON AUTHOR PLATFORM FOR MAJOR RETAILERS

Slyce Inc. has launched a new enterprise-level product for retailers: Snap-to-Coupon. The technology, when integrated into a retailer app, enables consumers to snap a photo of any coupon they see from that retailer -- whether via newspaper, catalogue or receipt -- and instantly generate a mobile-optimized version which can be stored on the retailer's app. The retailer is then able to leverage push notifications to remind the consumers to use the coupon. These reminders can be automatically triggered based on pending expiration dates of coupons or when a consumer is near a physical store.

"One of the biggest challenges retailers face in mobile is giving customers a compelling reason to download their app," said Slyce chief executive officer Mark Elfenbein. "For consumers, coupon accessibility and utility is typically the No. 1 most requested feature for retailer apps. Snap-to-Coupon provides retailers with a highly intuitive feature for their apps which can dramatically increase adoption and engagement." Leading brands such as Kohl's and Victoria's Secret have already deployed coupon scanning as a key feature in their apps, in order to increase engagement and overall stickiness.

Marketing through mobile

When a customer scans a loyalty or single-use barcode via the Slyce technology, retailers are also able to link this customer to their customer relationship management list. Whereas many brands already have the ability to market to customers via mailing addresses or e-mail, this functionality enables retailers to reach them via their mobile device. "Coupon scanning drives customer registrations to an application," said Mr. Elfenbein. "Filling out a registration form on a mobile device is tedious for a consumer, whereas snapping a photo of a coupon is all but frictionless."

The coupon experience and design underpinning Snap-to-Coupon came via the acquisition of SnipSnap App LLC earlier in 2015. Having created one of the top consumer mobile coupon apps, the SnipSnap team also developed Coupon Author, a white-label mobile coupon platform. Slyce accelerated this development, culminating in an enterprise-grade platform for retailers that supports coupon creation, including options to render coupons in Passbook, Google Wallet and mobile Web. According to a report by Business Insider, mobile coupons redeem at 10 times the rate of their paper counterparts. Slyce has a provisional patent for the process of scanning and converting a paper coupon for digital redemption.

Digital Coupon Author platform for retailers

In a closed beta until today's launch, the platform has been adopted by retail giants Toys "R" Us and BazaarVoice, and currently powers all of their digital and mobile coupons. Coupon Author enables retailers and agencies to create coupons optimized for mobile redemption, distribute them at scale, and enable their consumers to easily find and save such offers. Retailers can target special offers to customer segments depending on their loyalty or affinity to certain brands. As the digital coupon agency of record for Toys "R" Us, Slyce's Coupon Author platform already delivers the mobile coupon experience when the toy giant's promotions are distributed via e-mail, Facebook, Twitter, affiliate networks and the Toys "R" Us website.

"We've taken everything we've learned through having one of the top U.S. coupon apps, which has activated more than 200 million coupons and built a best-in-class mobile coupon experience for retailers," said SnipSnap president Ted Mann. "The smart phone camera is a really powerful way to engage a customer in the mobile space. Just look how prescription scanning became a way to drive usage of Walgreens prescription refills, and receipt scanning helped drive adoption of Wal-Mart Savings Catcher. Slyce now offers retailers that same kind of utility with coupons."

The Snap-to-Coupon feature is implemented into retailer apps as part of Slyce's native-app SDK (software development kit). The Coupon Author platform is also now being made available to all major retailers throughout North America at the Slyce website.

Revenues from Snap-to-Coupon and Coupon Author are derived from a combination of set-up and integration fees, and monthly SaaS (software as a service) licensing fees with usage thresholds.

More information on Snap-to-Coupon and Coupon Author can be viewed by visiting the Slyce website.

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