SOURCE: SoftCoin, Inc.

August 22, 2005 07:00 ET

SoftCoin Selected to Power NASCAR RacePoints(SM) Program

Purchase Validation Technology and Deep CPG Industry Expertise Leveraged for Leading Consumer Brands

SAN FRANCISCO, CA -- (MARKET WIRE) -- August 22, 2005 -- SoftCoin, Inc., the leading provider of Brand Relationship Management Solutions for consumer packaged goods (CPG) brands, today announced it has been selected to power the NASCAR RacePoints consumer loyalty program. Leveraging its Digital Proof of Purchase solution and six years of CPG industry expertise, SoftCoin will provide infrastructure and services to integrate leading consumer brands into the program.

The NASCAR RacePoints(SM) Program

NASCAR RacePoints gives 75 million racing fans the opportunity to earn points for making purchases and taking other desirable actions with participating NASCAR sponsors and partners. Fans can redeem their points for exciting race-related rewards from the exclusive NASCAR RacePoints catalog. Rewards fall under four categories: Access & Experiences, Collectibles & Memorabilia, Apparel, and Merchandise, and include such items as the chance to be Crew Chief for a Day.

Already more than 800,000 consumers have registered to earn NASCAR RacePoints from MBNA, Home123, XM Satellite Radio and others. SoftCoin's technology and services will enable consumer packaged goods manufacturers, retailers and service companies who are official sponsors and partners to issue NASCAR RacePoints to reward consumers for their purchases.

SoftCoin Technology and Industry Expertise

The Digital Proof of Purchase (DPP) solution, powered by the SoftCoin BrandConnect™ Loyalty Platform, begins with generating hundreds of millions of secure, 16-character codes that are delivered to participating NASCAR sponsor brands. These digital proofs of purchase are then affixed on or inside the product packaging or printed on a voucher that is handed out at point of sale. Through on-package messaging, consumers are instructed to enter the unique code in their NASCAR RacePoints online user account. The unique code is submitted to SoftCoin using a real-time web service call and is promptly validated against SoftCoin's code database, providing consumers with instant point verification.

"SoftCoin's Digital Proof of Purchase solution integrated seamlessly into the NASCAR RacePoints platform and has allowed us to broaden our capabilities easily and quickly," said Thorp Foster, President of NASCAR RacePoints. "With the purchase verification system now fully integrated and tested, SoftCoin provides a turn-key solution for many of the world's leading brands to securely issue NASCAR RacePoints to millions of consumers."

In addition to its strong technology foundation, SoftCoin brings years of expertise working with brands to solve the operational challenges of getting unique codes printed on or inside a physical package. Additional brand integration services provided include business and cost analysis, code application equipment sourcing and on site operational support.

"In just a matter of a few weeks, SoftCoin fully understood our business requirements, generated and issued the unique codes, and supported our operations team throughout the code application process," said Alan McKirby, Brand Manager for Goody's Headache Powder, a product within the portfolio of GlaxoSmithKline Consumer Healthcare. "SoftCoin's technology and industry expertise allowed us to integrate Goody's Headache Powder to the NASCAR RacePoints program with relative ease."

"The Digital Proof of Purchase solution offers a proven framework for mass marketed brands to verify specific consumer behavior, including product purchase," commented Armen Najarian, Director of Product Management for SoftCoin. "We are honored to have been selected to power the NASCAR RacePoints program and are excited to work with many of the world's leading brands to support this effort."

About NASCAR RacePoints(SM)

NASCAR RacePoints is operated by Stoneacre Partners, LLC, a leading developer of affinity and customer loyalty programs. Stoneacre has secured long-term, exclusive rights from NASCAR to create, develop and manage the NASCAR RacePoints program. Stoneacre and NASCAR are working closely with numerous sponsors, licensees and promotional partners to develop earning opportunities and rewards for participants in the NASCAR RacePoints program. Stoneacre manages fan relationships for the entire sport of NASCAR by directly connecting the sport to its avid fans. The Stoneacre Partners team has a long history of creating and developing some of the most successful customer loyalty initiatives in history, including Marlboro Gear, Pepsi Stuff, and the Beanie Babies Official Club.

About SoftCoin

SoftCoin®, Inc. is the leading provider of interactive marketing solutions for consumer packaged goods and other consumer-focused industries. Leveraging its BrandConnect™ technology and integrated services, SoftCoin converts offline purchases into online brand relationships, delivering measurable revenue increases, engaged, loyal consumers, and lower program costs. SoftCoin's packaged solutions have powered more than 60 interactive marketing programs for brands including Cadbury-Schweppes, Johnson & Johnson, Nestlé, and Sara Lee. Technology and channel partners include premier marketing services agencies and leading media networks. SoftCoin is a venture-backed, privately held company, with headquarters in the San Francisco Bay Area, and direct sales offices in Chicago, Cincinnati, Princeton, and Dallas. For more information visit www.softcoin.com.

Contact Information

  • NASCAR RacePoints Contact:

    Elliott Seaborn
    Vice President, Marketing
    NASCAR RacePoints
    781.835.2024
    Email Contact

    SoftCoin Contact:

    Armen Najarian
    Director, Product Management
    SoftCoin
    650.624.3817
    Email Contact