Snipp Signs Agreement Worth Over US$500,000 With a Leading Importer for the Retail Industry

Snipp Interactive (TSXV:SPN) announced that it has received a three year contract worth US$542,000 from a leading importer for the retail industry in the US.

The company said that its new client ran a pilot program on SnippCheck platform earlier in the year and signed a new deal based on its success.

As quoted in the press release:

“We are very excited to sign a new client based on the effectiveness of another pilot program, a strategy that has yielded considerable success in expanding our growing list of long-term contracts. Each conversion from a test program to a multi-year contract is a validation of the importance of our targeted and impactful solutions for our clients,” said Atul Sabharwal, CEO of Snipp. “This also marks Snipp’s first foray into a new Customer segment. We look forward to developing solutions for an increasingly diverse customer base as new industries and consumer segments discover the value of our products.”

The Customer currently supplies over 12,000 stores in the U.S. and is one of the largest and most respected companies of its kind in the country; well-regarded for its dedication to quality, innovation, service and trust. The program only covers one category of product from the Customer’s entire catalogue and has the prospect of expanding to other categories of the client’s portfolio of thousands of different products.

Under the terms of the agreement, Snipp will run and manage a receipt-based continuity program, aimed at driving awareness and increasing basket size and frequency of purchase. The program will enable consumers to purchase qualifying brand and partner brand products over multiple transactions to earn retailer specific eGift cards. Snipp will be the one-stop shop solution provider – from receipt validation on SnippCheck, Snipp’s market-leading receipt processing platform, to point management and reward procurement and fulfillment on its Snipp Loyalty and Rewards platform.

Click here for the full text release.