Nucleus Vision has partnered with Paytm, one of the biggest payment gateways in India. They have signed a pilot for a seamless incentivization/loyalty program using both blockchain and IoT.
The pilot would seek to explore this scenario:
Imagine a customer walking into a store.This store happens to be a partner retailer of Nucleus Vision as well. The Nucleus Vision sensor would recognize the phone ID of the customer walking into the store. If he has the Nucleus Vision app, he would be able to authorize the transfer of his purchase history and other personal info in return for nCash tokens.
This provides useful information to the retailer to provide a personalized shopping experience. Furthermore, they have a score which evaluates the customer on basis of how much data he is willing to share. Nucleus Vision has partnered with the major Indian telecom networks like Airtel, Idea and Reliance Communications to access user data. In proportion to the score, he will receive nCash tokens accordingly. The tokens can be redeemed at any of the partner network stores as well.
Paytm is doing a pilot wherein they will test out Nucleus Vision’s user acquisition ability through this loyalty program. Anyone with the app will receive special discounts and deals if they download and make a purchase through the Paytm app. Moreover, Paytm will also benefit from the recommendation engine where the engine has trained upon customer data to provide accurate suggestions for a customer’s future purchase. Paytm will use this data to provide more offers within a customer’s preferred choice of goods. Consequently, this may increase user conversion for Paytm.
Paytm
Paytm is one of the largest payment gateways in India with over 200 million users. Over 5 million merchants use Paytm as a PoS tool. They are backed by Alibaba, Softbank and the former head of the Tata Group Ratan Tata.
Nucleus Vision
Nucleus Vision is an identification system that uses a whole mix of Tech such as AI, Io, and blockchain to provide data and curated insights to its client network. It is backed by major players such as Tim Draper and Reliance Capital. It had made a move of over 28% and is currently priced at $0.042 as per CMC at the time of writing.
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