Digital payments company SKUx has completed the first phase of its blockchain-focused partnership with Mondelēz.
SKUx is working with Hedera, an open source enterprise distributed ledger technology (DLT) network, on payments innovation projects for the consumer packaged goods giant, the companies announced Wednesday (October 16). Announced in the release.
“The first phase of the innovation project successfully extended the current SKUx and Mondelez customer service programs on the market. In addition to coupons and mailed paper checks, the program offers near real-time SKUx digital payment options. “and vouchers,” the release states.
The project will publicly map a subset of these payment transactions onto the Hedera network, providing an end-to-end consumer offer experience tied to an immutable transaction record, the companies added.
Xiang Xu, global COE leader for digital strategy and blockchain at Mondelēz International, said: “With today’s highly volatile consumer behavior and increasingly complex supply chains, digital transformation and Web3 technology “It is important to focus on the use of technology to improve customer satisfaction and engagement.” Manufacturer of brands such as Ritz and Oreo.
“SKUx’s work with Hedera provides unparalleled transparency and is a real-world example of the transformative opportunities that blockchain brings.”
Earlier this year, SKUx partnered with Visa to, as the companies said at the time, “accelerate the digital transformation of select retailers and consumer packaged goods companies leveraging SKUx’s payments-based offer solutions.” We have entered into a partnership with the aim of
According to the release, the SKUx platform aims to end “antiquated physical-to-digital processes such as checks, coupons, rebates, and promotional offers” as the company moves several top consumer packaged goods (CPGs) It is said to be used by brands.
The platform is designed to allow businesses to “engage directly with their customers by delivering client-branded real-time Visa digital payments to their mobile devices.”
As PYMNTS wrote last month, the company’s latest offering comes at a time when blockchain and stablecoin solutions are gaining momentum, with Web3 companies building infrastructure that integrates traditional financial systems and blockchain technology. A partnership was realized.
In an interview with PYMNTS, Sheraz Shea, general manager of payments and commerce at Solana Foundation, said that legitimate and trusted stablecoin issuers are addressing transparency and regulatory concerns, and that cryptocurrencies He said stablecoins have become a viable option for companies concerned about risk.
“You get disintermediation, you get speed, you get transparency, and you get very low costs,” he said. “This presents itself as a value proposition for particularly strong use cases such as payments.”
Details: blockchain, consumer packaged goods, CPG, digital payments, distributed ledger technology, dlt, Hedera, mondelez, Mondelez International, news, partnerships, PYMNTS news, SKUx, Web3, updates
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