Through this move, Mondelēz, which is part of the Hedera Council, teamed up with SKUx to develop distributed ledger technology-based solutions on Hedera, centring around digital advancement initiatives, supply chain management, and optimised business processes to support augmented customer experiences.
The initial phase of the project extends the current SKUx and Mondelēz customer services program in-market. This program was developed to improve consumer offer experiences by including near real-time SKUx digital payment options together with coupons, mailed paper checks, and vouchers. In addition to this, the innovation project maps a subset of these payment transactions to the Hedera Network, with it aiming to deliver an end-to-end secure and simplified consumer offer experience to transactions. By going forward with the project, the companies focus on augmenting the overall retail ecosystem, while maintaining compliance with regulatory requirements and laws of the industry.
When commenting on the announcement, representatives from Mondelēz International underlined that the decision to focus their company’s efforts on digital transformation and utilising Web3 technologies to increase customer engagement can be attributed to the high volatility in user behaviour and increasingly complex supply chains. By collaborating with SKUx and Hedera, Mondelēz International looks forward to providing transparency while highlighting the capabilities of blockchain technology.
Furthermore, SKUx’s officials mentioned their commitment to supporting merchants, brands, and payment partners in unlocking value with every transaction, with the company delivering a personalised, simplified buying experience that aims to scale loyalty, financial inclusion, and wellness. Prior to the current news, more specifically in May 2024, Visa and SKUx partnered to improve digital payment experiences for select merchants and consumer packaged goods (CPG) organisations. As part of their work together, Visa enabled its clients to access SKUx’s digital payments platform, which in turn facilitated augmented business-to-business and business-to-consumer payment flows for merchants.
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