London, United Kingdom Mar 18, 2020 (Issuewire.com) - RedCloud Technologies, a global provider of digital commerce and mobile payments technology announced that its innovative retail digitization platform, Red101, has served over 125,000+ customers of major telecoms, media streaming and transport companies consisting of Telefonica’s Movistar network, América Móvil’s Claro network, Telecom Argentina’s Personal network in addition to AT&T’s DirecTV Streaming Video-on-Demand (SVOD) service and Sube, Argentina’s contactless smart card system used on public transport.
Over 230,000 sales of Airtime, Media subscriptions, and Transport card recharges have been made so far, with over 1800+ Red101 mStores having launched, using the Red101 App to digitize their physical retail stores into Red101 ‘mStores’ and begin selling digital services at Point-of-Sale to generate additional revenue streams.
RedCloud continues to sign up new retailers as well as digital services providers, with over 200 new retailers have signed up for the Red101 service so far this year alone. RedCloud also continues to engage with major FMCG/Retail groups to unlock retail networks of leading brands like Coca Cola, to bring Red101’s digital services to Coca Cola retailers, among other major brands, across LATAM, Africa and other global jurisdictions.
Commenting on the performance of the platform, RedCloud Director of Corporate Development & Strategic Partnerships, Vik Pathak, said:
“We’re exceptionally proud of how well the digital services we have hosted on the Red101 platform have been received by our mStores. With the average Red101 mStore having served over 140 consumers using our platform, the use case and the need for a platform that gives digital brands a physical presence is clear.
We’re continuing to build exciting partnerships with retail networks and digital services brands, and welcome all digital and eCommerce brands to work with us and list on our platform.
Our aspirations are to host leading media streaming services like Netflix, Spotify, Amazon Video and Disney+ on our platform, but we also see a large demand for eCommerce and courier services like Amazon, eBay, DHL, UPS and FedEx to utilize our platform and participating mStores to create a more efficient last-mile fulfilment, particularly in markets where cash-on-delivery is still the primary means of payment and therefore creates vast inefficiencies through failed deliveries and security issues of delivery drivers having to handle cash.
We’re actively in discussions with major names in the Telecoms, Media and Technology sectors and are actively listing more services to meet both local and global demand for digital and eCommerce services, and invite all digital and eCommerce brands to work with us to help build a physical presence for their brands and bring their services to a wider audience, globally”
The recent rise of Media streaming services has vastly changed the way consumers access and pay for media content, with leading players like Netflix now having over 170m paying subscribers, and Disney+ already having over 30m paying subscribers, despite only just launching in November 2019. However, there is still substantial room for growth for all digital media and eCommerce brands in cash-heavy markets like Latin America and Africa, which have a growing middle class and millennial population, rapidly growing access to the internet and high adoption of mobile devices, but lack of digital payments infrastructure means cash is still a dominant form of payment, making a physical presence to facilitate payments for digital-only brands a growing necessity.
The latest service to be added to RedCloud’s digital services catalogue is leading Argentine Electricity distributor, Edenor, which has exclusivity to distribute electricity in the Buenos Aires region and has over 20% market share with its 2.5m customers.
Media Contact
RedCloud Technologies / Vik Pathak vik.pathak@redcloudtechnology.com Level 39, One Canada Square, Canary Wharf http://www.redcloudtechnology.com
