Snipp Interactive receives $1.4M contract extension

Executive Summary

• Snipp Interactive Inc. secured a $1.4 million contract extension over a two-year period to continue providing AI-powered receipt validation and fraud prevention technology for a leading pet care brand's loyalty program.
• The agreement leverages Snipp's proprietary technology, including SnippCORRAL for anti-fraud protection and advanced receipt processing for shopper behavior data extraction and basket analysis.
• CEO Atul Sabharwal highlighted the strategic value of the renewal, noting that the technology provides a frictionless method for capturing verified purchase data and delivering actionable insights to brands.

Key Details

• Contract Value: $1.4 million.
• Duration: Two years.
• Client Sector: Leading pet care brand (specific name not disclosed in the release).
• Technology Deployed:
  • AI-powered receipt validation and fraud prevention.
  • Seamless API integration for receipt uploading.
  • SnippCORRAL: Advanced AI-powered anti-fraud solution to protect program integrity.
  • Data extraction capabilities including transcription, brand identification, and product categorization for detailed basket analysis.
• Program Mechanics: Members earn points for purchasing pet food/supplies and brand engagement, redeemable for discounts, coupons, free samples, and partner offers.
• Strategic Context: The partnership demonstrates the utility of receipt-based loyalty programs as a universal, frictionless alternative to complex POS integrations or retailer-specific partnerships.

Notable Quotes

• "We're thrilled to extend our partnership with one of the most respected brands in the pet care industry... This contract renewal reflects the trust our clients place in Snipp to deliver innovation and measurable value in their loyalty strategies." — Atul Sabharwal, Chief Executive Officer