Perx launches sponsored chops, sketches grand plans during Echelon 2012
June 11, 2012 by Terence LEE
After a trial run that lasted for months, Perx officially launched its sponsored chops feature at Echelon 2012. It is a new marketing concept in which merchants pay to give users free digital stamps which they can then redeem for rewards.
Perx is a mobile app that acts as a digital wallet for a bevy of loyalty cards — the startup already has over 450 locations under its belt.
Backed by the wealthy Facebook co-founder Eduardo Saverin, the company, fronted by CEO and co-founder Andrew Roth, painted a picture of where the company is heading towards.
Perx isn’t staying put, despite drawing 50,000 registered users in Singapore. They have sealed two exclusive deals in Singapore with POS providers Raptor and Epoint to have Perx QR codes printed on receipts. Together, both account for half of the F&B market in the island state, Andrew said.
Further, they are typing up the loose ends to a deal with a major 12-million-strong financial institution. More details will be announced later this year. Perx is also looking abroad at other Asian markets like Malaysia and Australia.
“It’s gonna be a landgrab,” says Andrew during his pitch at Echelon Launchpad.
Projecting even further beyond, the company has hinted at the possibility of integrating virtual currency into its app, since some of its clients want the ability to receive purchases directly from within the system, without the need for a pre-paid card.
Nothing concrete has been confirmed though.
Perx is a top ten finalist at Echelon 2012 and the winner of the Singapore Satellite event. Organized by tech blog e27 for the third year running, the conference is a key startup launchpad in Asia with over 1,100 delegates in attendance and 50 startups exhibiting in the Marketplace. Check out SGE’s coverage of Echelon 2012.
Find out more about SGE’s research arm: SGE Insights, providing customized in-depth research reports to help you navigate the business of technology in Asia.
About The Author
Terence LEE - Editor
Terence writes mainly about technology trends and startups in Asia. He believes in crafting smart content: Not just a regurgitation of text, but well thought-out pieces that serve the reader using a combination of data, design, narratives, analysis, and visual impact. His articles have been published on Venturebeat, Yahoo!, Straits Times, Today, and The Online Citizen. He also co-founded NewNation.sg, a satirical news site covering Singapore affairs. Engage him on LinkedIn and Twitter.Read other posts by Terence LEE