ICN Launches SaaS Clearing Network for Paper Coupons
LAS VEGAS -- Intelligent Clearing Network today launched its SaaS solution for accurately clearing paper coupons at the point-of-sale as part of the Coupon Conference here, hosted by the Association of Coupon Professionals. Mis- and malredemption and fraud associated with paper coupons continue to plague the retail industry, costing hundreds of millions of dollars annually.
By replacing today's convoluted manual process with an electronic solution, ICN's clearing network ushers in a new era in coupon redemption. In addition to dramatically reducing improper redemption, the ICN solution provides manufacturers, media companies, and retailers with real-time redemption data.
"Installing a software-as-a-service solution at the point-of-sale is the most effective way to validate coupons in real-time, without interfering with a checkout transaction," said Rich Thibedeau, Executive Vice President, Operations, ICN. By implementing a validation service for processing paper coupons at the POS, the industry can potentially save hundreds of millions of dollars every year, with a direct improvement to the bottoms lines of both manufacturers and retailers, he said.
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ESP Managing Directors Jim Petras (lower right) and Jonathan Murray (right center) sit on the ICN board.