Snipp Receives Six Figure Loyalty Receipt-Processing Renewal Order From Retail Property Leader for 2018 After Program Grew 10...
January 10 2018 - 7:00AM
Snipp Interactive Inc. ("Snipp" or the “Company”)
(OTCQB:SNIPF) (TSX-V:SPN), a global provider of digital
marketing promotions, rebates and loyalty solutions, today
announced that it has secured a renewal agreement with a leading
developer of retail, dining and lifestyle destinations, based on
the success of this program in 2017.
The client is one of the largest, privately-held
real estate companies in the United States, with a portfolio of
retail and mixed-use properties. It is recognized around the world
as the most innovative and successful developer of retail
complexes.
The program grew 107% between 2016 and 2017 at
the two locations where the client was running this program. In
2018 the client intends to add additional locations over the second
half of the year. Billings are estimated to be worth at least
$356,000 for the 2018 contract period. Given that the contract
terms for the renewal are now based on a “Pay Per Snipp” consumer
participation model, this contract could represent significant
upside for the company either from increased participation and/or
the addition of new locations. This is the first time in the
three-year relationship with this client that the contract terms
will be based purely on consumer participation.
The client’s brand loyalty rewards program
rewards guests when they shop, dine and see their favorite movies
at their retail centers. Along with earning points for items
purchased across the properties, guests can also get their parking
validated if they spend above a certain amount in a single visit.
The company has integrated SnippCheck, Snipp’s receipt processing
capability via an API into their customer loyalty program.
SnippCheck receipt processing enables guests to submit a receipt
for any purchase at the property either through the company’s app
or via email, SMS or web upload to receive points. In addition,
guests are able to submit their receipts through a concierge app as
part of delivering a simple and highly satisfying user
experience.
“We are once-again very pleased to expand a
relationship with another existing customer, a tangible sign of the
growing value of our platform and solutions,” said Atul Sabharwal,
Chief Executive Officer at Snipp. “A key objective for this client
is to deliver the best possible experience for their guests, so
being recognized as an essential part of that process shows the
effectiveness of the combination of our receipt processing and
loyalty technology solutions. As we continue to build our platform
and expertise, we look forward to seeing many more relationships
with existing clients mature into longer-term engagements.”
Visit the Snipp website at http://www.snipp.com/
for Snipp’s full suite of solutions and examples of Snipp
programs.
About Snipp:
Snipp is a global loyalty and promotions company
with a singular focus: to develop disruptive engagement platforms
that generate insights and drive sales. Our solutions include
shopper marketing promotions, loyalty, rewards, rebates and data
analytics, all of which are seamlessly integrated to provide a
one-stop marketing technology platform. We also provide the
services and expertise to design, execute and promote client
programs. SnippCheck, our receipt processing engine, is the market
leader for receipt-based purchase validation; SnippLoyalty is the
only unified loyalty solution in the market for CPG brands. Snipp
has powered hundreds of programs for Fortune 1000 brands and
world-class agencies and partners.
Snipp is headquartered in Toronto, Canada with
offices across the United States, Canada, Ireland, Europe, and
India. The company is publicly listed on the OTCQB, of the OTC
market in the United States of America, and on the Toronto Stock
Venture Exchange (TSX) in Canada. Snipp was selected to the TSX
Venture 50®, an annual ranking of the strongest performing
companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS
RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH
AMERICA On Deloitte’s 2017 Technology Fast 500™ List, for the
second year in a row.
FOR FURTHER INFORMATION PLEASE CONTACT: MKR Group, Inc. Todd
Kehrli / Mark Forney snipp@mkr-group.com
Snipp Interactive Inc. Jaisun Garcha Chief Financial Officer
investors@snipp.com
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements that involve risks and uncertainties, which may cause
actual results to differ materially from the statements made. When
used in this document, the words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions are intended to identify forward-looking
statements. Such statements reflect our current views with respect
to future events and are subject to such risks and uncertainties.
Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in
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authorities. Should one or more of these risks and uncertainties,
such as changes in demand for and prices for the products of the
company or the materials required to produce those products, labour
relations problems, currency and interest rate fluctuations,
increased competition and general economic and market factors,
occur or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, or
expected. We do not intend and do not assume any obligation to
update these forward-looking statements, except as required by law.
The reader is cautioned not to put undue reliance on such
forward-looking statements.
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reserved. All other trademarks and trade names are the property of
their respective owners.
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