"MoLo Rewards mission: Assist consumers to save money and enable retailers to maximize their revenue by better serving their customers."
MoLo Rewards enables consumers to obtain and redeem shopping coupons directly through their mobile phone without the need to clip a paper coupon ever again! All of this is achieved by simply tapping your mobile phone on a contactless device at the Point of Sale, at the time of purchase.
How is this done you might ask? The answer is that MoLo Rewards makes use of a new technology called Near Field Communication (NFC). NFC is a short-range high frequency wireless communication technology enabling the exchange of data between devices over an average distance of about 10 centimeters (around 4 inches) that is initiated through the touching of these two NFC devices. NFC-enabled transactions are secure because the transmission range is so short. Also, physical proximity of the device to the reader gives users the reassurance of being in control of the process. NFC in the coming years will play an increasingly important role in mobile phones allowing for seamless transferring of data between various systems. This will open up a whole new world of commerce, with over $6 billion in redeemed coupons and 1 in 6 NFC mobile users by 2014.
Beyond the great benefit of saving money, making use of MoLo Rewards and our offerings comes with the added knowledge that we help cut down on coupon fraud presently valued at $300-$500 million USD annually. We will also help save some of the 100 million trees destroyed every year by the paper coupon industry. Who said you can't save money and help the environment at the same time?