Perspective: New OfferWise Solution Streamlines the Offer Redemption Process at the Point of Sale
Everyone loves a good deal, and most of us have probably used a coupon, loyalty program or purchased and redeemed an offer from a daily deal site. Consumers seek bargains. A sample of statistics shows the trend.
- The average American household participates in 18 consumer reward programs.1
- According to the 2011 Coupon Facts Report from NCH Marketing, 78 percent of all consumers in the U.S. redeemed coupons in 2010.
- In 2011, eMarketer estimated that nearly one half of the adult U.S population would redeem an electronic coupon.
While offers typically provide moderate to steep discounts for products and services, this is not their only appeal for consumers. Today’s deals and offers programs also enable consumers to seek and track the products and services they want.
Today is an exciting day as we're launching our OfferWise solution, which is a new open platform that dramatically simplifies the offer redemption process for consumers and merchants as a part of First Data’s vision to deliver universal commerce.
What is OfferWise?
The First Data OfferWise solution allows offer publishers to electronically attach offers such as deals, eCoupons and loyalty programs to one or more of a consumer’s payment cards or mobile wallet to enable streamlined and automatic redemption of the offer at the point of sale (POS). Part of what we're announcing today is that we're currently piloting its OfferWise solution with dozens of merchants, and it will be made available to our more than four million U.S. merchant locations.
How does it Benefit Merchants and Consumers?
Merchants can dramatically simplify the offer redemption process for their customers by linking directly to any type of payment card. Offers are redeemed in real time at the merchant’s POS with immediate feedback provided through the payment terminal or smartphone. Merchants can increase their marketing ROI by leveraging the First Data OfferWise solution’s analytics engine to improve consumer targeting and offer performance analysis.
For consumers, OfferWise makes purchasing and redeeming offers much easier. They no longer have to print off copies of their purchased online offers or other coupons and bring them to the merchant’s location. First Data OfferWise allows consumers to link their offers directly to any type of payment card (credit, PIN or signature debit) as well as a mobile wallet and redeem them automatically at the point of sale.
One last and important component of OfferWise is our partnership with CardSpring, a technology provider that has developed a breakthrough application programming interface (API) that allows the OfferWise solution to be easily integrated with multiple publishers.
Headquartered in Palo Alto, CardSpring is a payments infrastructure company that brings the power of web services to the payment network. The CardSpring platform lets developers add web or mobile applications to payment cards without changes to the purchase experience or store infrastructure, empowering any website or retailer to easily create innovative new online-to-offline commerce applications.
Learn more about this exciting news.
1 Andriotis, Annamaria. “6 Rewards Programs Worth Your Loyalty.” Smartmoney.com. March 22, 2011