Winston-Salem, NC, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Inmar Intelligence, a data-driven technology-enabled services company, recently announced a new point of sale (POS)-integrated technology, CNFRM (pronounced confirm), which is free for retailers and prevents the redemption of counterfeit coupons in real-time at the register. Schnuck Markets, Inc., a St. Louis-based family-owned grocery retailer, is the first to deploy CNFRM and has immediately benefitted from CNFRM with the detection of counterfeit coupons within the first week.
Invalid coupon use costs retailers and CPGs $100+ million per year. While the direct costs are clear, the indirect costs also have a significant impact on the bottom line. From negative shopper experiences in the lane to missed sales, the true cost of counterfeit coupons exceeds the immediate write-off. Inmar Intelligence -- in its commitment to end coupon fraud by 2024 -- developed and released CNFRM for free to retailers in order to directly combat the negative impact that counterfeit coupons have on the retail industry.
With Inmar Intelligence’s CNFRM solution, retailers can instantaneously identify valid and invalid offers at the point of sale through a cloud-based decision engine that leverages both positive and negative offer file data. This real-time process empowers cashiers to confidently accept or reject manufacturer coupons without slowing shoppers down in the lane. Moreover, CNFRM enables accelerated detection and arbitration of new unknown offers that may be counterfeit. Today, arbitration of unknown offers can take weeks; however, through CNFRM, these offers can be resolved within hours; thereby drastically reducing the timeframe for a new counterfeit offer to be wrongfully redeemed.
The secret to CNFRM’s success is its cloud-based architecture. It validates scans within 50-200 milliseconds, ensuring the most accurate validation process available in the market without slowing shoppers down in the lane. With CNFRM, retailers can also expect:
- Fewer CPG withheld payments on retailer invoiced redemptions, which leads to improved trade relations and the ability to maximize trade funds
- Complete control over cashier experience
- Added protection against counterfeiters clearing shelves
- A comprehensive coupon database maintained by Inmar Intelligence, representing 90 percent of the offers in market
- Compatibility with any POS system via integration with RESTful API, enabling real-time data capture for actionable insights and advanced analytics
- Future product capabilities such as new coupon types and full digital clearing
"Reducing coupon fraud helps Schnucks remain focused on nourishing people’s lives so that customers can feed and care for their families," said Schnucks Vice President of Asset Protection, Mason Keller. "We are excited to continue partnering with Inmar because we share in the commitment to prevent loss by identifying coupon fraud in our stores without causing a disruption to the customer experience."
“It’s exciting to see CNFRM’s immediate impact on preventing fraudulent coupons in stores,” said David Mounts, Chairman and CEO of Inmar Intelligence. “We admire Schnucks’ decision to stop coupon fraud at their locations. They are taking care of their teammates by making it simple for them to identify and respond to counterfeits, while also looking out for their shoppers by safeguarding promotional investments for years to come.”
For more information about Inmar Intelligence’s CNFRM solution, please visit https://www.inmar.com/
About Inmar Intelligence
Commerce Accelerated.™
Inmar Intelligence is a leading data and tech-enabled services company. $120 billion dollars of commerce runs through our market-driven platforms which are propelling digital transformation through unified data and workflows to help leading Fortune 5000 companies, emerging brands and health systems drive innovation.
Throughout our 40-year history, we have served retailers, manufacturers, pharmacies, health systems, government and employers as their trusted intermediary in helping them redefine success. For more information about Inmar, please follow us on Twitter, LinkedIn or Facebook, or call (866) 440-6917.