In its general meaning, a coupon or voucher (both terms will be used herein as synonyms) is a document that can be exchanged for a financial discount when purchasing a product or service. It is in no way a ticket, which is a proof of payment (receipt) in the fairCASH environment.
fairCASH offers the minting/issuing of coupons in form of restricted eCoins, which can freely be exchanged at the issuing eMint against unrestricted eCoins carrying monetary value. Manufacturers of goods and/or suppliers of services may use this offering everywhere on marketplaces e.g. retail and/or Internet stores as a (direct) marketing instrument (e.g. as part of sales promotions and/or loyalty schemes).
In the fairCASH world eCoins and vouchers are differentiated through the application of enacted restrictions; the purchaser of this fairCASH couponing service can specify restrictions to be applied for his vouchers in his order before the eMint starts minting these coupons:
- limit their transferability to (mostly) only one single hop,
- personalize them to a group of individuals,
- specify their denomination (monetary value),
- design their graphical size, color or shape to be displayed electronically,
- qualify their usage period to be valid for the intended lifecycle.
An exemplary lifecycle of a fairCASH voucher can be conceived in the following way:
The benefit of these vouchers within the fairCASH system to users: They are able to acquire them by eMail only without the need to own a personal eWallet. To collect the monetary value of the coupon, however, they’ll first have to acquire ownership of an eWallet as a premise.
This treatment of digital vouchers is highly efficient and offers superior effectiveness to partners looking for new techniques of direct advertising.
fairCASH includes vouchers as separate service to interested customers.