Quotient (NYSE: QUOT), the digital media and promotions technology company, has announced its digital, product-level promotions will now be available to more than 100M+ enrolled cardholders through a new partnership with Figg. Figg is a leading transaction-based digital advertising platform company for financial institutions, banks, fintech and digital platforms in the United States. SKU-level rebates available on Quotient’s national network will now be available for cardholders across Figg’s bank and publisher network.
This new partnership with Figg enables enrolled cardholders to access grocery offers from Quotient’s 2,000+ brand partners, including Clorox, General Mills, and Unilever, complementing Figg’s existing restaurant, retail and entertainment offer portfolio.
Quotient’s innovative promotions platform enables Figg to provide more value to cardholders with product-specific offers. Shoppers simply use an enrolled card and experience seamless personalised savings—rebates selected will be digitally matched with the shoppers’ credit and debit card purchases—with no additional steps. Consumer packaged goods (CPG) brands will see increased promotional reach through this partnership, and retailers will benefit as promotions that are already on their websites will now also be available to Figg’s 100M+ enrolled cardholders.
“This integration enables us to provide savings to a larger audience in a new space. We are excited to expand reach for our brand and retail customers, and continue to offer more innovative, personalised and sophisticated alternatives to promotional tactics like printed free-standing inserts,” said Steven Boal, CEO and Founder at Quotient. “Figg is a great partner for us to provide grocery rebates to financial institution cardholders, creating easier access for consumers to find savings in their shopping journey and giving them more value from everyday purchases.”
“As third-party cookies sunset and consumer privacy tightens, purchase history through a financial institution will be an invaluable data point for advertisers looking for precise consumer targeting. That is why Figg is redefining how advertisers and consumers connect. Our platform enables advertisers to deliver relevant and rewarding experiences to their consumers through the industry’s most diverse advertiser-funded, card-linked offer portfolio,” said Brandon Dols, Figg President.
“Expanding into grocery promotions with card-linked offers was a natural next step for us and will advance our industry-leading position,” added Doug Rappoport, Figg Chief Growth Officer. “As a company whose mission is to uncover value from everyday transactions, we knew that Quotient was a great partner for us. Now, Figg’s clients will not only be able to provide cardholders savings at their favourite restaurant or retailer, but through the Quotient partnership, they will also be able to provide discounts on cardholders’ favourite products.”
Consumers will begin to see grocery rebates as part of their card-linked, cash-back offers through the Quotient and Figg partnership later this year.
The Fintech Times reached out to Quotient and spoke to Steven Boal, CEO, to find out more about this partnership.
“Quotient had a long pipeline of companies that reach audiences that are complementary to ours.” He said, “Figg is a perfect fit to partner with Quotient, and we are thrilled to be able to offer our digital coupons to the 100M enrolled cardholders across Figg’s bank and publisher network.”
When explaining why Figg was chosen above any other advertising platform, Boal said, “Figg already has an engaged audience of shoppers who are enrolled to receive cash-back on purchases. While some partnerships will require shoppers to learn a new behaviour, the Figg audience is already saving money and getting cash-back on purchases. We are excited that grocery promotions are a first for Figg and the financial institutions and publishers it serves, providing its customers with a unique offering that was previously unavailable. Like Quotient, Figg is a disruptor in the promotions space. There was business alignment in the ultimate goal of the partnership — to give consumers easier access to find savings and enjoy more value from everyday purchases.”