By combining universal, single-use coupons through The Coupon Bureau’s AI (8112) coupon format and Electrum’s technology and loyalty expertise, the partnership paves the way for consumer packaged goods (CPG) manufacturers to fund loyalty discounts in the convenience store space for the first time.
The Coupon Bureau is a nonprofit industry group and centralized data exchange connecting stakeholders to its new universal digital coupon project. AI (8112) coupons are universal, single-use coupons validated in real-time through The Coupon Bureau’s Universal Positive Offer file.
“Electrum’s rules based on-line processing technology and loyalty services combined with the Coupon Bureau’s data warehousing and delivery capabilities of multiple CPG manufacturer digital coupons will result in the long-awaited, universal acceptance of coupons in the convenience store space,” explained Electrum Holdings President Edward Craig.
The collaboration, added Craig, will greatly benefit manufactures, convenience stores and consumers.
Brandi Johnson, CEO of The Coupon Bureau, said that c-store adoption and standards development has been a major focus for her company in 2021.
“Our ongoing collaboration with Conexxus has brought a number of new partnerships into our trajectory,” said Johnson. “Technology providers like Electrum are so valuable to us because of their expertise and experience in this vertical. We are looking forward to deploying our first pilot with their team later this year.”
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, GMA, CONEXXUS and GS1 US – to develop new technology, support third-party technologists, deploy educational programs for industry stakeholders, and give back to the community.
Electrum offers robust loyalty services tailor made for the convenience store space. With over 20 years of experience in loyalty and payment processing, Electrum delivers a profitable loyalty program unique to each retailer, high enrollment and customer retention, multiple communication channels with customers, and actionable analytics that aim to drive customers inside the store.