M-Dot Network creates secure transaction network for digital coupons
Erie, Pa. M-Dot Network has created an enterprise platform, which redeems digital coupons in real time, lessening the burden of coupon validation at checkout, speeding up checkout and reducing redemption error rates. The M-Dot platform is a bridge that connects any number of existing digital consumer touch points, notably Internet and mobile phone, into a retailer's point-of-sale system without the expense of additional in-store hardware.
M-Dot Network's open enterprise platform gives retailers the benefit of redeeming offers from any number of digital-coupon issuers with only one single point of integration. “Our real-time processing technology enables retailers to own and manage their own pipeline of digital coupons and offers, safely and securely,” said Bill Catania, CEO of M-Dot. Additionally, the M-Dot Network helps retailers and product manufacturers fight coupon fraud as each coupon redemption is aligned with a valid shopper identification and their corresponding purchase at the time a coupon is redeemed.
Consumers select and receive digital offers on a participating retailer's Web site, on a retailer-branded mobile application provided by M-Dot or directly from the digital-coupon issuer. Regardless of coupon issuance, consumers redeem all coupons in real-time by swiping their Retailer Shopper/Club Card or entering their phone number at checkout. All of the shopper's coupons are redeemed during the same transaction with a mean response time of 98 milliseconds, or one-tenth of a second.
M-Dot Network's patent-pending message broker software controls all coupon-redemption messages between the retailer POS and M-Dot Network's central servers. M-Dot Network's compression technology recognizes what has been purchased by the shopper and immediately sends a message to its central server for validation of eligible coupons for the purchase. A message is then immediately sent back to the retailer where the purchase price is adjusted for the shopper based on the sum of their valid coupons.