Expands Program from One Seabra Foods’ Retail Location into All 14 Retail Locations
Begins Exploring Development and Integration of Loyalty Programs and Supply Chain Solutions
Initiates Marketing Process for Series A Funding Round
NEW YORK, Dec. 04, 2018 (GLOBE NEWSWIRE) -- MakeCents, LLC, an innovative startup focused on developing customized applications in digital payments, loyalty programs, and supply chain management via its blockchain-based platform, today announced that the Company is expanding its mobile wallet application beta program at Seabra Foods, a grocery chain with a presence across New Jersey, Rhode Island, Massachusetts, and Florida, increasing MakeCents’ beta program from one Seabra Foods store location in Harrison, New Jersey to all 14 store locations.
MakeCents’ initial beta program lasted approximately three months and was focused on perfecting its testnet. The expanded, comprehensive beta program will allow the Company to continue optimizing system performance and improving the customer and merchant experience among a larger group of testers, further proving its potential to achieve significant scale.
The first MakeCents developed application is an easy-to-use, decentralized mobile wallet, which differentiates itself from other mobile payment solutions by incorporating cash transactions into the payment process. The wallet also introduces consumers to a first-of-its kind, revolutionary technology of permitting them to receive legal tender and coinage electronically to their phones following an in-store, cash purchase. Additionally, the wallet leverages its blockchain technology to reduce high fees and security risks generally associated with legacy, centralized payment systems.
MakeCents has also begun the process of exploring the development and integration of loyalty programs and supply chain solutions as part of its full suite of offerings. While MakeCents is initially focused on the digital payments space, the Company’s ultimate goal is to create an end-to-end ecosystem that connects manufacturers, distributors, retailers, financial institutions, and consumers on a decentralized platform, thereby eliminating the need for unnecessary intermediaries and providing more efficient, secure, and inexpensive tools for businesses and individuals to leverage.
In addition, MakeCents has initiated the process of marketing for its Series A round. The Company previously closed a seed fundraising round of approximately $2.5 million with contributions from a number of seasoned angel investors. MakeCents has been utilizing the funds to expand its professional team and to further support its application and product development efforts.
Based in New York City, MakeCents is an innovative startup focused on developing customized applications in digital payments, loyalty programs, and supply chain management via its blockchain-based platform for a range of market participants and end-users. For more information, please visit the Company’s website at www.MakeCents.network.