Interesting venture in the retail payment space.
Hello Tan;
Thanks for the add. If I recall correctly, you asked me to send you some information on my company. The following link gives you the elevator pitch we're using today, when talking to potential investors:
If you want further information, please don't hesitate to contact me.
Best regards,
Helgi Viggosson.
PS: Links to some product info:
Cofus – An Elevator Pitch
Cofus is a start-up company, which has been developing Customer Intelligence based loyalty marketing and sales solutions for retail, during the past 4 years.
Its key product, Cofus Commerce Server (CCS), is a comprehensive suite of revenue generating application components for retailers, which are easy to integrate into current environments. A strong competitive edge, apart from supporting the conventional e-channels, is a focus on enabling the most important channel, the brick and mortar store itself, by transforming the cash register into an advanced e-commerce device by the means of the CCS EPOS plug-in which facilitates a comprehensive integration to the CCS backend and the online world. The flagship CCS component, AMR (Automatic Marketing for Retail), enables retailers to deliver targeted, personalized messages to customers in the store – on a receipt, at the register, by follow-up e-mail, on the web, by digital signage or on any appropriate device in the store. By using advanced data mining and artificial intelligence technology Cofus AMR can precisely target customers according to their purchasing history, and other relevant data such as demographics, or on the content of their shopping basket, ensuring that the offer will be well received.
NTC, the largest fashion retail chain in Iceland (18 prime location stores), has already installed CCS for its loyalty club (NTC+ Club), and been in operation since early 2008.
Currently Cofus is working on a fast-track sale process to sell its solutions to one of the payment services companies in Iceland, based on a proposal about establishing a loyalty community for all cardholders and major retailers in Iceland – probably the first social loyalty marketing scheme to be established, where the Web 2.0 is integrated to the physical world, backed by a sound revenue plan. It will be a unique in many other aspects, e.g. by utilizing the features of the CCS Profile Management system to enable collaborative (open-loop) loyalty schemes, and private ones, as well as mixture of both, thus bringing best of “both worlds” benefits to the stakeholders. The goal is to establish a stimulating reference case, which will open the doors for Cofus, at payment services companies all over the world.
Some bullet points:
· The plan
· Implement an exceptional reference case in Iceland with one of the major payment services company in Iceland – 6-9 months
· Business planning and preparation for international sales
· First round financing – new investors possibly invited
· Road Show among potential international buyers – the Icelandic credit card company’s international network exploited
· Important facts
· Iceland is the best test market possible for a solution like this:
§ Has the highest payment card usage per capita in the world
§ Concentrated modern society with all of the infrastructure elements of larger societies
§ Over 90% of the population has an Internet-connection – 96% of the age group 20-29 has an account on Facebook
· Only handful of competitors who provide similar solutions for the payment services industry. The CCS solution offers many important features which none of them has.
· This is a large market, and almost recession proof, since people don’t cease to use their payment cards, even though the situation gets though – which actually motivates them to join loyalty/reward schemes according to a recent study.
· Revenue models which can be built on the CCS solution are excellent for the payment services company, and other stakeholders.
· Upfront cost for the payment company can be slashed, and revenue-sharing model used instead, which should make the sale cycle shorter
