Drop Tank Powers Promotions With Blockchain

Loyalty company teams up with SKUxchange for streamlined offers
Photograph: Shutterstock

ST. PETERSBURG, Fla. — Drop Tank, a loyalty technology and rewards company, has teamed up with blockchain startup SKUxchange to allow CPG brands to deliver smart and secure digital offers to thousands of participating convenience-store locations in the United States.

With headquarters in the Tampa Bay area, SKUxchange is a blockchain-based software company that partners with brands, retailers, online marketplace platforms and service providers across multiple industries to deliver smart and secure digital offers. The company’s mission is to eliminate promotional offer fraud while driving transparency through smart data and artificial intelligence-driven offers. The company’s core product, SKUx, includes near real-time offer reconciliation and settlement for its enterprise partners.

“Fuel and convenience-store brands are actively searching for new and innovative ways to drive sales across retail locations that often have inconsistent retail technology,” said Drop Tank CEO David VanWiggeren. “Combining Drop Tank’s loyalty integrations in the industry with the solution SKUx has developed represents a major step forward for this industry. We are excited to be working with them.”

Through an application process interface, SKUx’s brand partners submit promotional offer content into a shared blockchain database. Each offer is then serialized through SKUx and distributed by SKUx’s partner retailers, mobile app partners, online marketplace platforms and service providers. It allows brands to track their promotional offers across industry verticals in real time, ubiquitously recognized at any point-of-sale.

For example, Drop Tank’s loyalty programs are focused on driving incremental fuel and nonfuel sales through its partnerships with many loyalty programs. Members enter their phone number at the pump or inside the store to earn every time they purchase fuel, select c-store items and more.

“We are excited to be working with Drop Tank as we deploy our technology across the c-store industry and beyond. Drop Tank’s commitment to innovation, integrity, and adding value to its partners is right in line with our philosophy at SKUx, and we see tremendous opportunities to work together to push this industry forward,” said Kenneth Douglas, SKUx’s co-founder and CEO.

Burr Ridge, Ill.-based Drop Tank specializes in gas station loyalty technology and loyalty solutions, with thousands of retail implementations across the United States. Drop Tank partners with fuel and c-store brands to deploy consistent loyalty functionality across stations that may have inconsistent retail technology. Drop Tank's solutions unlock loyalty and data services for a wide range of participants in the convenience-store industry.

St. Petersburg, Fla.-based SKUx’s technology offers near real-time reconciliation and settlement while leveraging the power of blockchain and artificial intelligence to improve security, transparency and efficiency of promotional offers. The company’s mission is to eliminate promotional offer fraud for brands and retailers while activating engaged consumer transactions through transparent smart data and AI-driven digital offers.

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