|By Business Wire||
|March 31, 2014 09:12 AM EDT||
TranSEND, a provider of infrastructure software to the payments industry, today announced the launch of OfferPipe, a new mobile card-linked offers marketing service. OfferPipe helps small- and medium-sized businesses, known as SMBs, tap into large new audiences through mobile advertising placements and personalized offers on Facebook, Twitter, Foursquare and other social media outlets. Business owners can quickly and easily publish digital promotions using their existing point-of-sale (POS) devices. These offers are relayed to digital ad exchanges, which instantly redistribute them to mobile publishers to reach the right consumers at the right times in the right places through geolocation. Consumers link payment cards with OfferPipe to take advantage of instant discounts at the time of purchase.
According to Gloria Colgan, former Discover Network and JP Morgan Chase executive and now managing director for Market Platform Dynamics, in a PYMNTS.com article titled Defining Real Innovation, “Instant POS rewards usage is a challenge that all the digital wallets, card issuers, networks and everyone in between have been working on for YEARS and YEARS, perhaps decades.” It’s the “Holy Grail,” adds Colgan.
A video demonstration of the creation and redemption of an OfferPipe mobile card-linked promotion is available.
OfferPipe is accessible to merchants through a nationwide network of payment processors and Independent Sales Organizations (ISOs) who provide credit card services and equipment. Processing organizations deploying TranSEND’s RevChip POS software can immediately activate mobile card-linked marketing services across their merchant portfolios. Merchants are able to set up and distribute card-linked marketing promotions in minutes without onsite installation or a help desk call. Once embedded in a merchant portfolio, OfferPipe helps processors and ISOs achieve higher merchant retention rates and increase revenues at a time when industry profits are being seriously impacted by transactional price compression.
“Card-linked marketing programs are the next big revenue opportunity for the payments industry,” said Terrence Crowley, chief executive officer for TranSEND. “It’s interesting that merchant profitability for acquirers and ISOs is often measured in tens of dollars per month, when merchants spend hundreds or even thousands of dollars monthly on marketing. With OfferPipe, merchant sales reps can have a different conversation,” indicates Crowley. “Payment services can now be viewed by business owners as a profit center, adding to top line income, rather than just being looked at as an expense.”
OfferPipe will be showcased at booth #1161 during TRANSACT 14: Powered by ETA on April 8-10, 2014, at the Mandalay Bay Resort and Casino Convention Center in Las Vegas. Crowley will moderate the Card-linked Offers: The Next Big Thing panel session on Tuesday, April 8, 2014 at 11:30 a.m. in salon room Islander B.
Founded in 2003, TranSEND, Inc. is the market leader in optimized point of sale terminal software and estate management systems serving many of the world’s largest payment processors and independent sales organizations. Its RevChip EMV software runs on POS terminal models from major equipment manufacturers and enables extensive connectivity to content services. The company also provides high speed transaction switching systems and related managed services including device downloads, help desk, compliance testing and in-flight data services. For more information, please visit www.transendit.com.
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