XPED GRANTED LUCRATIVE PATENT IN CHINA
Highlights
Xped granted lucrative patent in China one of the largest markets for Xped’s technology
The patent covers creation of Electronic Coupons (eCoupons) and targeted messaging for event-based and value-added advertising
The number of eCoupon redemptions is forecast to reach 31 billion in 2019*
Granted patent positions Xped as a leading technology enabler in the world’s largest smartphone/mobile market
Retailers can provide effective marketing and promotion to targeted consumers
Raya Group Ltd (ASX: RYG) (“Raya” or “the Company”) is pleased to announce that Xped Holdings Limited (Xped) has been awarded a key patent in China for its technology that can create and transfer eCoupons using its unique “tap-to-connect” Internet-of-Things (IoT) solution.
The patent award allows Xped to extend the application of its one-tap process to advanced eCommerce, whereby consumers can receive eCoupons when they use their mobile phones for purchases (such as using Apple Pay) at retailers. The downloaded information may relate to future specials, points of interest, and discounts that have some relevance to the consumer; with the information remaining dormant in the device until a future point in time.
Specific triggers can control the award of eCoupons within the Xped platform. The trigger options are innumerable, and can include such prompts for example; the date where a sales promotion or rewards program begins, or a location where the consumer’s GPS is accessed.
The application of the technology can go beyond eCommerce, whereby being utilised as an enhanced messaging tool with the capability of understanding user habits.
For example, consumers using their Near Field Communication (NFC) enabled devices at a specific trade or food fair, can receive eCoupons encouraging them to visit websites or physical stores to take advantage of special offers. The number of eCoupon redemptions is forecast to reach 31 billion in 2019.*
“The award of the patent in China is particularly significant for the mass adoption of Xped’s technology with China well placed to become the world’s largest market for targeted mobile advertising and eCoupons,” said Xped’s chief executive officer, John Stefanac.
“Xped’s tap-to-connect technology offers uses beyond the controlling and monitoring a wide range of household appliances and industrial equipment, with the technology having numerous applications in sales and advertising. This places Xped in a strong position to become an integral part of everyday
life.”
Mobile has been acknowledged as the fastest growing advertising format. The market for eCoupons is booming, with Juniper Research forecasting the number of eCoupon redemptions around the world to double from 16 billion in 2014 to 31 billion in 2019 *.
China is the largest smartphone market by volume and amongst the largest consumer markets in the world, making the Chinese market a driving force behind these trends.
*Juniper Research (2014): eCoupons: Market Trends & Market Dynamics 2014-2019
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