Worldwide first: weeNexx AG merges cashback system with blockchain technology (FOTO)

München / Kreuzlingen (ots) -

Swiss company "wee" plans exponential growth, positioning itself
at the forefront of loyalty technology

With a view to strategic development and long-term market
penetration, Swiss company Swiss Fintec Invest AG, which holds a
licence to issue electronic money, is now expanding its offer to
include the immense possibilities of blockchain technology. A
strategic quantum leap! The international expansion of "wee" will
build on their existing infrastructure that has proven its strength
in recent years. weeNexx AG, the new subsidiary of weeMarketplace,
will now transform this technical base and the previous
weeMarketplace business model into a blockchain.

"wee" is a unique bonus programme that links the global world of
online shopping to local retailers through its own portal wee.com.
Discounts generated through e-commerce can only be redeemed by
consumers in physical retail stores. Alternatively, the collected
"wees" (which has 1:1 conversion rate to the euro) can be transferred
into the consumer's current account. "wee" thus allows retailers to
benefit from their e-commerce adversaries, as the cashback generated
online is channelled into their stores. This, in turn, generates
additional sales and customers. So far, over 3 million euros have
been invested in the planning and development (IT, prospecting and
customer acquisitions) of the programme.

Currently, the world's population exceeds 7.6 billion. If growth
continues at the same rate, our planet will have over 20 billion
inhabitants by the end of the century. Experts predict that global
e-commerce sales will reach 2.11 trillion euros by 2022. "wee"
intends to develop this already gigantic market purposefully for its
product/service offering, which includes: loyalty programme, cashback
system, mobile payment and e-commerce - all powered by blockchain.
Their aim is for smartphones to act as mobile wallets and to become
an everyday alternative to established payment systems around the
globe! With the immense possibilities offered by this technology, it
is possible to turbocharge the "wee" marketplace into the next
business dimension. Thanks to the "wee" blockchain technology and
peer-to-peer (end-to-end) interactions, in the future it will no
longer be necessary to rely on intermediaries such as banks for
transactions. This means that transactions will take place with the
simultaneous tokenisation of the "wee" loyalty points in real time!
Compared to conventional transaction processes, which are essentially
implemented through banks, this offers immense saving potential and a
tactical variability in the integration of financial service
providers. In addition, by implementing this strategy, "wee" is the
first to quickly and easily open up additional markets. The programme
can also easily integrate with other loyalty programs, new points of
acceptance and consumers.

Blockchain-based technologies will gradually become more popular
in international payments. 500,000 consumers, 30,000 conventional
retailers and 1,300 operators of well-known online stores will be
essential assets for the development of "wee" as a payment system in
2018/2019. In addition, by 2019, external distribution partners will
be able to create, in parallel, the necessary conditions for
connecting an additional 1 million retailers across Europe. With the
business foundation already laid over years, "wee" is able to offer
an exceptional payment system that, better than those of its
competitors, can meet the requirements of users and consumers. It
also has a stable IT-platform. Everything has been strategically
planned: in the future, consumers and users of a blockchain-based
payment system must be verifiable. This is exactly what our own IT
can do today with 'Know Your Customer' (KYC).

Dr. Leo Schrutt (61), Chairman of the Board of Directors of both
Swiss Fintec Invest AG and weeNexx AG, looks to the future with pride
and confidence: "With our experience and an innovative strategy, we
offer the market a completely unique solution. Our realistic
objective is to create and establish the world's first totally
reliable payment system, based on blockchain and equipped with its
own invoicing unit for daily use, thus changing international payment
processes in a sustainable way".

weeNexx's strategy is to merge the successfully established
cashback business with mobile payments and the immense possibilities
of blockchain technology for sustainable growth in the "wee"
marketplace, both online and offline! "wee", which has so far been
the hallmark of an innovative loyalty programme with continuous
growth, will expand its brand, and promises to create an organic
network of money, virtual currency and digital cashback.

With the development and use of the "wee" technology in the
digitalization of the retail trade, the platform and capability
already exists through the weeCard and the weeApp, under the umbrella
of the listed Swiss Fintec Invest AG. This led to the holding
company's public listing of the "wee" group on the Paris Euronext
stock exchange in 2017. The current market value is estimated at
around 280 million CHF.

Through its collaboration with a well-known bank, weeMarketplace
AG offers other functionalities consistent with market development:
this partnership includes access to and use of an e-money issuer
licence as part of its European expansion. Dr. Schrutt is pleased
about the current positive development: "This e-money license puts us
in the position to be able to fully cooperate with the bank. After
the successes in revitalizing the "wee" Marketplaces, I would also
like to highlight the successful progress that has been made on the
world's first open arena payment system in our own weeArena, as well
as the use of an e-money license and the planned merger of "wee" with
blockchain technology. Now there's nothing standing in the way of a
successful implementation of our corporate strategy."

P.S.: We offer you copyright-free images (photos, videos) to
download at http://blog.wee.com/presse/

We would very much appreciate any publications and would love to
receive the corresponding confirmation. More information about wee:
https://wee.com/

Contact:
weeNexx AG, Media Spokesperson/Public Relations, Tilmann Meuser
c/o CP/CONSULT Consulting Services GmbH
Tel: +49 (0) 201/890699-15; Mobile: +49 (0) 17/8095117
meuser@cp-cs.de

Original-Content von: weeNexx AG, übermittelt durch news aktuell