Financial tech services provider SKUx has tapped board member Jay Loeffler as its new president. The company, which works to transform coupons, rebates and promotional offers into payment-based offers for retailers and CPGs, reported that it hired Loeffler based on his demonstrated success in growth and innovation.
The new leader comes to SKUx from previous roles at Valpak, where he led the integration of social influencer marketing and traditional direct mail and helped found its subsidiary grocery brand SKULocal. At that brand, he worked with major CPGs including Procter & Gamble, Kraft, Unilever, Kellogg's and Mars, among others.
"Jay is a dynamic business leader with deep relationships and knowledge within consumer brands, retail, promotions and direct marketing," said Jim Sampey, co-founder and CEO of St. Petersburg, Fla.-based SKUx. "His track record for introducing and advancing breakthrough innovations that drive growth and performance for clients is a perfect fit for our mission at SKUx."
Growth is on tap at SKUx for the coming year, as the company continues to roll out its end-to-end payments-based system that does not require any special integration by retailers or brands. Consumers can turn offers into currency that can be redeemed as part of the regular payment process wherever mobile payments are accepted. According to company information, retailers are reimbursed daily instead of the usual weeks or months.