epay today announced a new service that eliminates the issues retailers face when validating and reconciling the billions worth of national paper coupons that are processed annually across the UK and Ireland.
Through a partnership with Promotional Payments Solutions (PPS), epay’s retailers now have access to a “Real-Time Paper” and “Digital Coupon Redemption Service”.
The new epay-PPS system validates, redeems, and settles coupons with a scan of its barcode in real time. Retailers no longer need to save, count, and post the national coupons because the system does it for them digitally and directly while providing fully reconciled management information.
The system also solves other problems caused by paper coupons such as fraud because of poor basket verification and negative cash flow due to long settlement times.
Both companies have combined their innovative technologies to make the partnered system work for retailers.
PPS maintains a full database of national paper coupons in circulation in the UK and Ireland market and has been delivering this service to thousands of grocery retailers for three years through its PromoPay platform.
Using its cloud-based payment platform, epay easily integrates with point of sale terminals and existing systems at retailers through established API’s and standard protocols. epay currently has 30,000+ connections throughout the UK and Ireland with national retailers, convenience retailers, independent shops, and EPOS providers for products from mobile top-up to gift cards.
As an integrated solution, the epay-PPS system empowers retailers from small independent stores to large national chains to accept coupons without the concern of fraud or lengthy settlements while keeping coupon-using customers happy.
The epay-PPS solution is available now to retailers in the UK and Ireland. An EPOS or connected cash register is required to process national coupons, as the system will validate products alongside coupons to ensure the elimination of fraud and therefore no manual check is required by the retailer.
Existing epay retailers should contact their account representatives for information about adding the new digital coupon service at their sites. New retailers interested in adding epay services or brands interested in using epay to distribute their virtual content should visit the company website at https://www.uk.epayworldwide.com or email [email protected].
Promotional Payments Solutions (PPS) is a marketing technology company specialising in digital customer promotional offers and payments solutions. PPS delivers these solutions through its omnichannel SaaS cloud-based technology platform, PromoPay®, which includes the first and only service in the UK and Ireland to validate and redeem all national manufacturer and publisher coupons in real time at point of sale, down to a specific product in a customer’s basket.
PromoPay National Coupon Validation is an independent and unique service that has been operational in the UK and Ireland since 2016 and has revolutionised the way coupons are processed. For the first time ever, coupons are now fully validated in real time on PromoPay, no longer relying on manual paper validation checks being carried out by retailers. This automates and speeds up validation and eliminates opportunities for mis-redemption and fraud, as well as removing the need for coupons to be returned to the issuers’ handling agents for payment.
This results in fast reimbursement to retailers and rich real-time data for coupon issuers, thus transforming the promotional medium of couponing from a blunt marketing instrument to one that is sophisticated and offers fully measurable ROI.
epay is a world-leading full-service provider for payment processing and prepaid solutions and processed 1.15 billion transactions in 2018. The company has developed a comprehensive network of retailers consisting of 707,000 point of sale terminals in 47 countries to connect well-known brands with consumers around the world. It boasts a portfolio of gift cards (prepaid, closed loop and digital media), corporate incentives and payment solutions (card acceptance, terminals, e-commerce, mobile and internet of payment) for omnichannel commerce, and offers its services thanks to its proprietary cash register integration software.
epay is a division of Euronet Worldwide, Inc. (NASDAQ: EEFT), a Kansas-based company which earned $2.5 billion in revenue in 2018, employing a staff of 7,100 employees and serving customers in 165 countries.
epay in UK: https://www.uk.epayworldwide.com/
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