Slyce Inc.
TSX VENTURE : SLC
FRANKFURT : 06O1

Slyce Inc.

August 04, 2015 07:38 ET

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

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

Editors note: There are two images and one video associated with this press release.

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.

Digital 'Coupon Author' Platform for Retailers

In a closed beta until today's launch, the platform has been adopted by retail giants Toys"R"Us and BazaarVoice and currently powers all of their digital and mobile coupons. Coupon Author enables retailers and agencies to create coupons optimized for mobile redemption, distribute them at scale, and enable their consumers to easily find and save such offers. Retailers can target special offers to customer segments depending on their loyalty or affinity to certain brands. As the digital coupon agency of record for Toys"R"Us, Slyce's Coupon Author platform already delivers the mobile coupon experience when the toy giant's promotions are distributed via email, Facebook, Twitter, affiliate networks, and ToysRUs.com.

"We've taken everything we've learned through having one of the top US coupon apps which has activated more than 200 million coupons and built a best-in-class mobile coupon experience for retailers." said SnipSnap President, Ted Mann. "The smartphone camera is a really powerful way to engage a customer in the mobile space. Just look how prescription-scanning became a way to drive usage of Walgreens prescription refills; and receipt-scanning helped drive adoption of Wal-Mart Savings Catcher. Slyce now offers retailers that same kind of utility with coupons."

The Snap-to-Coupon feature is implemented into retailer apps as part of Slyce's native-app SDK. The Coupon Author platform is also now being made available to all major retailers throughout North America at coupons.slyce.it.

Revenues from Snap-to-Coupon and Coupon Author are derived from a combination of setup and integration fees and monthly SaaS licensing fees with usage thresholds.

More information on Snap-to-Coupon & Coupon Author can be viewed by visiting - http://coupons.slyce.it

About Slyce Inc.

Slyce Inc. (TSX VENTURE:SLC)(FRANKFURT:06O1) delivers sophisticated 3D visual search technology that enables customer engagement applications for companies and consumers starting with simple snaps of products or photographs on mobile devices.

Based in Toronto, ON, the company delivers its technology as a white-label visual search platform allowing retailers to expand customer engagement and also through its family of consumer mobile apps. Slyce's technology is used by premier, large retail brands like Niemen Marcus, JCPenney, Toys"R"Us and Home Depot.

For image download and additional company information please click for the Slyce Media Kit.

READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this press release contain forward‐looking information including, without limitation, Slyce's business plan, strategy and related milestones, Slyce's suggestions of future outcomes, the future use and development of its technology, future customers and business partners. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Slyce.

Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.

Slyce does not undertake any obligation to update or revise any forward‐looking statements except as expressly required by applicable securities laws.

None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.

To view the images associated with this press release, please visit the following links:

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To view the video associated with this press release, please visit the following link:

https://youtu.be/nry2eBxtM1U

Contact Information

  • For further information and interviews, please contact:
    Slyce
    Mark Elfenbein
    T. (587) 897-0993
    Mark@slyce.it

    Slyce
    Roy Roman
    T. (647) 464-6200
    Roy@slyce.it