CorFire, the mobile commerce business of SK C&C USA, and edo have announced a mobile partnership in which edo’s offers platform will be linked with CorFire’s mobile wallet solution and marketing services.
The result, which is currently in beta testing and expected to be made widely available later this year, will allow merchants and financial institutions to build off preference analytics and past spending behavior to more effectively target consumers, according to a release.
Consumers will now be able to activate their credit, debit, or payment card from an edo financial partner and receive targeted notifications, via SMS or email messages, on their mobile phone. The offer can be redeemed directly from one’s mobile wallet, with the savings instantly credited to the user’s account.
The arrangement will allow edo to build on existing partnerships with some of the nation’s largest financial institutions, such as Fifth Third Bank and Ally Bank, while also leveraging CorFire’s strong mobile presence as many hyperlocal marketing platforms vie for the attention, and business, of merchants.
The partnership will also incorporate its Geocommerce Offers, which, according to Jeff Fagel, vice president of marketing and brand development for edo, is the first mobile advertising platform to combine location and purchase data, delivering real-time offers to the user’s mobile based on where they’re standing and what they just purchased.
Amid questions over the future of daily deals services, particularly Groupon, many SMBs are searching for ways not only to get consumers into their stores, but also to build customer loyalty. “Merchants will increase purchase basket sizes and increase redemption rates because offers are more relevant, targeted and simple to redeem via a mobile wallet app,” Fagel told Street Fight.
Merchants will also be able to build on existing loyalty programs, such as points redemption, to reward frequent shoppers through the app, where users can also track transaction information and view their account balance.
“Our partnership with CorFire will allow marketers to easily target based upon transaction behavior,” said Ed Braswell, CEO and president of Edo, in the release, “creating the new standard for in-store mobile advertising.”
Patrick Duprey is an intern at Street Fight.