When a cashier at a retail location accepts a coupon, it seems like an easy enough task. They verify it has not expired and scan it. The register accepts it, and the transaction completed easily with a happy customer who just saved money. But there are actually many moving parts happening behind the scenes when it comes to redeeming these money saving wonders. Much of that work is done quietly yet efficiently by a coupon clearing house.
Stores gladly accept coupons because they know it makes customers happy, and make them more likely to keep shopping at that location. They take the temporary loss, but then send in the coupons to be counted to a clearing house. This is much easier on both the manufacturers who issued it and the stores, since the clearing house does all the accounting work in one place.
Once they reach the clearinghouse, that business then goes through the task of sorting and counting all of them. They invoice each one and then add up the total of all of them. That is the amount owed. This is so much simpler than having to hire a special couponing staff who will separate and add these up. It is time saving as well, which is a big deal in the business world.
The amount on the invoice is then paid to the store, who recoups their temporary loss. They get the face value of the coupons, plus a handling fee for each one as well. This handling fee is meant to offset the cost of postage to the clearing house and any other costs incurred.
Retailers benefit greatly from these services, but manufacturers can get quite a few benefits as well. One of the things a clearing house can do for the product maker is to compile a report about usage of the coupons. This report allows the company to see if the issuing of coupons has been good for drumming up new business, or if it has not been a good use of company resources.
They can even audit a store's redemptions to look for any anomalies. This includes detecting fraud and checking redemption records to ensure that nothing is going on that could potentially make the product maker lose any money. It protects everyone involved, including the consumer, since it allows makers to keep giving out coupons, knowing they will be redeemed lawfully.
In recent years, digital coupons have risen in popularity. These are usually used on phones by text, email or apps. They provide the same discounts and specials, but they are completely paperless. This helps the environment quite a bit, but saves money for all involved as well since there is no cost in terms of paper or printer ink.
Finally, the clearing house can help reduce fraudulent and fake coupons. Some criminals use computer programs to make fakes that look like the real thing, complete with scannable bar codes. Employees can look at each physical coupon to spot fakes and alert retailers so they can stop taking them and reduce or eliminate fraud. This is yet another way that the clearinghouse has your back, whether you are the manufacturer or retailer.
Stores gladly accept coupons because they know it makes customers happy, and make them more likely to keep shopping at that location. They take the temporary loss, but then send in the coupons to be counted to a clearing house. This is much easier on both the manufacturers who issued it and the stores, since the clearing house does all the accounting work in one place.
Once they reach the clearinghouse, that business then goes through the task of sorting and counting all of them. They invoice each one and then add up the total of all of them. That is the amount owed. This is so much simpler than having to hire a special couponing staff who will separate and add these up. It is time saving as well, which is a big deal in the business world.
The amount on the invoice is then paid to the store, who recoups their temporary loss. They get the face value of the coupons, plus a handling fee for each one as well. This handling fee is meant to offset the cost of postage to the clearing house and any other costs incurred.
Retailers benefit greatly from these services, but manufacturers can get quite a few benefits as well. One of the things a clearing house can do for the product maker is to compile a report about usage of the coupons. This report allows the company to see if the issuing of coupons has been good for drumming up new business, or if it has not been a good use of company resources.
They can even audit a store's redemptions to look for any anomalies. This includes detecting fraud and checking redemption records to ensure that nothing is going on that could potentially make the product maker lose any money. It protects everyone involved, including the consumer, since it allows makers to keep giving out coupons, knowing they will be redeemed lawfully.
In recent years, digital coupons have risen in popularity. These are usually used on phones by text, email or apps. They provide the same discounts and specials, but they are completely paperless. This helps the environment quite a bit, but saves money for all involved as well since there is no cost in terms of paper or printer ink.
Finally, the clearing house can help reduce fraudulent and fake coupons. Some criminals use computer programs to make fakes that look like the real thing, complete with scannable bar codes. Employees can look at each physical coupon to spot fakes and alert retailers so they can stop taking them and reduce or eliminate fraud. This is yet another way that the clearinghouse has your back, whether you are the manufacturer or retailer.
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