Visa has entered into a strategic partnership with SKUx, a leader in digital instant payments innovation, to improve digital payment experiences for merchants and consumer packaged goods (CPG) companies. This collaboration aims to accelerate digital transformation and enhance payment efficiencies.
Key Features of the Partnership
- Digital Transformation: The agreement will help select merchants and CPG companies leverage SKUx’s payment-based offer solutions for various use cases such as customer acquisition, loyalty programs, and consumer care and recovery.
- Seamless Payments: SKUx’s Digital Payments Platform enables real-time, branded Visa digital payments delivered directly to mobile devices, ensuring a seamless consumer experience.
- Fraud Reduction and Efficiency: The platform transitions from physical to digital processes, significantly reducing costs, effort, and fraud. It supports real-time transparency through enterprise distributed ledger technology (DLT).
The SKUx platform is already utilized by leading CPG brands, achieving up to 85% reductions in paper checks with near real-time digital delivery of customer payments. This partnership will drive value creation in B2B and B2C payment flows, enhancing customer interactions from acquisition to purchase.
This collaboration between Visa and SKUx represents a significant advancement in digital payment solutions, promising enhanced efficiency, reduced fraud, and a seamless experience for both merchants and consumers.
