Enhanced Solution Eliminates Fraud in Real Time
By Jack Grant
Coupon fraud can mean a loss of up to $5,000 per store per year. It’s no wonder why grocery retailers have long sought a viable solution to this illegal practice that has plagued the industry for years.
One solution that is gaining attention comes from Intelligent Clearing Network. It is a fully-automated end-to-end promotion management system that gives retailers complete control over their promotions and identifies and stops costly fraud in real time. The technology is being used successfully by a national discounter, grocer and drug retailers.
ICN's e-Count is a comprehensive cloud-based paper validation, settlement and analytics technology that improves the entire paper coupon ecosystem with real-time validation, invoicing and settlement of paper and digital coupons.
With its e-Count program, ICN has addressed the key issues facing paper coupon issuance, redemption, processing and settlement by:
- Greatly reducing acceptance of counterfeit offers
- Reducing cashier fraud and labor costs
- Giving manufacturers analytics, which are not available today.
“This patented process can greatly improve the current paper coupon ecosystem and reduce the concern around the distribution and redemption of paper coupons. Real-time cloud validation provides process efficiencies and costs savings to the brand manufacturers that issue the paper coupons and to the retailers that redeem them,” said Beth Buresh, President, Intelligent Clearing Network.
The ICN system sits between the retailer and manufacturer. Rich Thibedeau, CTO and COO, Intelligent Clearing Network, noted. “The technology provides more redemption controls and captures more data than traditional paper processing, including providing real time denial messages, real time positive/ negative file validation, near real time new counterfeit identification, offer code identification and capture, store level ID, product purchase identification and faster invoice creation.”
He noted other benefits regarding coupon validation:
- Prevents deal stacking with a single solution for paper, digital and direct-to-card offers
- Ensures all offer qualification criteria are met with full GS1 Databar decoding (including family code or UPC)
- Eliminates POS limitations for all types of promotion execution
- Allows store paper coupons to be accurately validated, redeemed, settled and invoiced in the cloud, saving money, labor and eliminating delays in reimbursement
- Provides a first of its kind real-time registration of serialized Print-at-Home coupons allowing “earn and burn” at ICN retailers.
“Coupon transactions are handled more quickly and accurately than ever before – and with fewer disputes,” Thibedeau summed up.