CEO Tikue Anazodo Details How Kudos Finds You Extra Savings on Every Purchase

Key Concepts

• Point of Sale (POS) Optimization
• Browser Extension for Automated Rewards
• Credit Card Rewards Maximization
• Partner Network & Commissions
• Conversion Rate Improvement for Retailers
• Kudos Boost (Additional Rewards)
• Location-Based Recommendations
• Offline Cashback

Kudos at the Point of Sale

The core problem Kudos addresses is optimizing the point of sale (POS) experience for both consumers and retailers. The speaker uses the example of being at Walmart and preparing to use a credit card to illustrate the pivotal role Kudos plays in ensuring transaction completion.

How Kudos Works: The Consumer Perspective

1. Browser Extension: The user adds the Kudos extension to their browser or mobile device.
2. Automatic Pop-Up: When the user reaches the checkout page of an online store, Kudos automatically pops up.
3. Card Recommendation: If the store is not a Kudos partner, Kudos analyzes the user's cards and recommends the best card to use based on rewards, purchase protection, and available credits. For example, "Hey, you have these cards in your wallet, like you're shopping at Walmart, you have a card that gives you 3% and that card also gives you purchase protection, and you have a $10 credit on that card that you can use at Walmart."
4. Autofill: Kudos helps autofill the card details, streamlining the purchase process.
5. Value Maximization: This process ensures the consumer gets the most value from their purchase.

How Kudos Works: The Retailer Perspective

1. Conversion Improvement: For store owners like Walmart, Kudos helps drive more conversions by making the checkout process easier and more rewarding for customers.
2. Partner Network: Kudos has a network of about 15,000 stores.
3. Commission-Based Rewards: Partners give Kudos commissions because Kudos helps drive more conversions.
4. Kudos Boost: When users shop with Kudos at partner stores, they receive additional rewards in the form of Kudos Boost, which is sponsored by the partners.

Example: eBay Partnership

eBay is cited as a top Kudos partner. The speaker provides a specific example:

• If the speaker shops at eBay with the Kudos browser extension, Kudos identifies that they have a City Double Cash card that gives 2% back at eBay.
• Kudos recommends using this card and highlights its purchase protection benefits.
• The speaker also receives an additional 5% back from Kudos in the form of Kudos Boost, sponsored by eBay.
• In total, the speaker earns about 7% back on a $100 purchase, which is $7.

Offline (In-Store) Functionality

While the primary focus is on online transactions, Kudos also offers offline functionality:

1. Cheat Sheet: The Kudos app has a "cheat sheet" feature that tells users where they can earn the most money based on the store or category they are in.
2. Location-Based Recommendations (Future Development): Kudos is working on location-based technology that will provide real-time recommendations when a user enters a store. For example, if a user walks into a Walmart store, Kudos will pop up and tell them how much they can earn with specific cards at Walmart and if offline cashback is available.

Conclusion

Kudos aims to optimize the shopping experience by maximizing rewards and streamlining the checkout process, both online and offline. It benefits consumers by helping them earn more rewards and retailers by driving more conversions through its partner network and automated recommendations. The future development of location-based recommendations promises to further enhance the offline shopping experience.