Key patent opens up Chinese market for Xped
XPED Holdings (ASX:RYG) announced yesterday that it had been awarded a key patent in China for technology that can create and transfer electronic coupons (eCoupons) using its unique tap-to-connect Internet of Things (IoT) solution.
The patent covers creation of eCoupons and targeted messaging for event-based value-added advertising.
The granted patent will serve to position Xped as a leading technology enabler in the smartphone and mobile market.
Xped’s patent protected technology allows any consumer to connect, monitor and control devices and appliances found in the every day environment.
“The award of the patent in China is particularly significant for the mass adoption of Xped’s technology with China well placed to become the world’s largest market for targeted mobile advertising and eCoupons,” said Xped CEO John Stefanac.
According to Juniper Research the number of eCoupon redemptions is forecast to reach 31 billion in 2019.
Xped has entered the market at the right time.
The patent award allows Xped to extend the application of its one-tap process to advanced eCommerce.
Consumers can receive e-Coupons when they use their mobile phones for purchases at retail outlets. The downloaded information may in future relate to specials, points of interest and discounts that have relevance to the consumer.
The technology draws upon Near Field Communication which is currently driving the IoT.
NFC enabled devices could theoretically receive eCoupons, which encourages consumers to visit websites or physical stores to take advantage of special offers.
Xped’s tap-to-connect technology offers uses beyond controlling and monitoring a wide range of household appliances and industrial equipment, with the technology having numerous applications in sales and marketing,” Stefanac said.
“This places Xped in a strong position to become an integral part of everyday life.
Business Insider reports that new data from BI Intelligence finds that US mobile ad spend will top nearly $US42 billion in 2018, rising by a five-year compound annual growth rate (CAGR) of 43% from 2013.
China is the largest smartphone market by volume amongst the largest consumer markets in the world, making the Chinese market a driving force behind this IoT trend.