SKUx offers a patented payments platform that utilizes serialization, funding, and distributed ledger technology to facilitate real-time, item-level payments directly to consumers' mobile devices. This solution addresses the need for secure, transparent transactions in promotions, rewards, and customer recovery, enhancing consumer trust and loyalty.
Funding
$24.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many current payment systems lack the ability to target incentives or restrictions to specific items at the point of sale, leading to inefficiencies and potential misuse of funds in promotions, customer recovery, and benefits programs. Existing solutions often require complex integrations with merchants and lack real-time transparency.
Solution
SKUx provides a payments platform that leverages serialization, funding, and distributed ledger technology to enable real-time, item-level payments directly to consumers' mobile devices. The platform allows for targeted disbursements with controls at the UPC/SKU level, ensuring funds are used for intended purchases. This approach facilitates secure and transparent transactions for promotions, rewards, customer recovery, employee payments, and crisis relief, fostering trust and loyalty.
Target Audience
The primary target audience includes businesses and organizations seeking to implement targeted and transparent payment solutions for promotions, customer recovery, employee rewards, government disbursements, and healthy benefits programs.
Features
- SKUPay® technology for item-level payment acceptance, ensuring purchases of specific items.
- Dynamic payment controls to restrict usage to specific merchants, locations, categories, or timeframes.
- Real-time disbursement of branded digital payments directly to mobile devices.
- Embedded cryptographic filtered product lists for programs like WIC, EBT, and SNAP to prevent fraud.
- Support for various use cases, including promotions, customer care, healthy benefits, and employee wellness.
- Integration of program details, serialization, funding, and settlement using distributed ledger architecture.