VANCOUVER, BC, CANADA - Snipp Interactive Inc. (“Snipp”, the “Company”) (TSX-V: SPN; OTCPK: SNIPF), a global provider of digital marketing promotions, rebates and loyalty solutions, is pleased to provide an update to its previously announced pilot program (“Pilot”) for a top 5 global market research and consulting firm (“Global Research Client”). This is a new industry that Snipp focused on entering last year. Refer to the press release disseminated on November 9, 2020, titled “Snipp Interactive launches programs across new industries and geographies as it looks to scale growth.”
Based on the success of the Pilot that was carried out in the country of Columbia for a customer (“Customer”) of this Global Research Client, Snipp has received confirmation from its Global Research Client that it will be rolling out the SnippRewards platform globally for this Customer. This Customer is a leading American Multichannel cigarette and tobacco company.
The 2021 SnippRewards roll out starts on January 4, 2021 and will cover a minimum of 39 countries and represents a contract value of between US $2 million and $3 million on an annualized basis. Snipp launched the first 5 countries (2 in Europe, 1 in Asia and 2 in Latin America) on Monday January 4, 2021 in the first wave of the deployment. Another 6 countries will launch starting in March 2021 with the remaining countries slated to be launched in Q2 2021.
This Global Research Client of Snipp has multiple such customers that can leverage the SnippRewards platform to incentivize their research panels. This deployment was for only 1 such customer. Preliminary conversations are underway for transitioning other customers of this Global Research Client to the SnippRewards platform. SnippRewards is a leading rewards platform that has integrated over 1,325 unique brand rewards across 150+countries and 45+currencies.
In addition to the SnippRewards platform, other business units of this Global Research Client are piloting Snipp’s industry leading Receipt and Invoice processing module – SnippCheck, as outlined in the previous press release referenced above. Subsequent deployments of the SnippCheck platform are also planned for this coming year as the pandemic had caused limited deployments in the second half of 2020. Previously pilots on the SnippCheck platform were carried out in France for one of the world's largest restaurant chain by revenue and in the United States for one of the world's largest food company by revenue.
“This contract with the Global Research Client which was based on the successful implementation of the Pilot, shows the inherent value embedded in the Snipp platform that is waiting to be unlocked. The modularity of the platform also demonstrates the potential of the multiple drivers of transformational and multi-layered profitable revenue generation opportunities for the Company”, said Atul Sabharwal, Founder, “Our team was hard at work this past quarter and specifically across the holiday season. We launched/will launch 25+ programs during the last week of 2020 and over this first week of 2021, and without the exceptional efforts made by our team none of these successes and transformational deals would have been possible. We look forward to sharing more details about our Q4 2020 growth, the past year’s financial performance, and other deals we have recently signed or are on the cusp of signing. We hope everyone has a healthy, safe and profitable 2021”.
Visit the Snipp website at www.snipp.com for Snipp's full suite of solutions and examples of Snipp programs.
Snipp is a global loyalty and promotions company with a singular focus: to develop disruptive engagement platforms that generate insights and drive sales. Our solutions include shopper marketing promotions, loyalty, rewards, rebates and data analytics, all of which are seamlessly integrated to provide a one-stop marketing technology platform. We also provide the services and expertise to design, execute and promote client programs. SnippCheck, our receipt processing engine, is the market leader for receipt-based purchase validation; SnippLoyalty is the only unified loyalty solution in the market for CPG brands. Snipp has powered hundreds of programs for Fortune 1000 brands and world-class agencies and partners.
Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the Toronto Stock Venture Exchange (TSX-V) in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.
FOR FURTHER INFORMATION PLEASE CONTACT:
Snipp Interactive Inc.
Chief Financial Officer
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