Slyce Launches "Snap-to-Coupon" Capability and Digital Coupon Author Platform for Major Retailers

TORONTO, ONTARIO--(Marketwired - Aug. 4, 2015) -

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Visual search leader Slyce Inc. (TSX VENTURE:SLC) announced today the launch of 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, catalog, 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 CEO, Mark Elfenbein. "For consumers, coupon accessibility and utility is typically the #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 'stickyness'.

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 (CRM) list. Whereas many brands already have the ability to market to customers via mailing addresses or email, this functionality enables retailers to reach them via their mobile device. "Coupon scanning drives customer registrations to an application," said Elfenbein. "Filling out a registration form on a mobile device is tedious for a consumer where as 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 10x the rate of their paper counterparts. Slyce has a provisional patent for the process of scanning and converting a paper coupon for digital redemption.