Snipp Announces US$1.2MM Contract With New Client

Snipp Interactive (TSX:SPNV) announced that the company has secured a new contract worth up to US$1.2MM from a new client for a 10 week national promotion commencing in the first quarter of 2019.

As quoted in the press release:

The brand is part of a multinational Fortune 500 company and the leader in pet nutrition.

Over the course of the program the Customer will use the Company’s proprietary SnippCheck receipt processing technology to enable a cash back program based on customers who successfully submit their receipts for qualifying products.

“We are thrilled that we are signing consistently larger contracts and adding new names to our growing list of brand customers,” said Atul Sabharwal, CEO of Snipp. “Many of our core Fortune 500 corporate clients have multiple portfolios of brands, each with their own P&Ls that we have yet to access, but where we now have corporate-wide authority to showcase our programs. This contract is a perfect example of the natural evolution of our business cycle. It took us four years to get certification at the parent corporate brand, and we have only just begun to penetrate their roster of several thousand brands. Many of these brands are international, so success in a North American program can unlock significant market opportunities overseas. We are already seeing this effect in action, as we have begun discussions with the parent company of the brand in today’s announcement, to enable programs for 2019 in two of their forty-five European markets, with a goal of rolling out a Pan-European deployment over the next few years.”

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