Community Research and Development Information Service - CORDIS

H2020

PENSUMO Report Summary

Project ID: 717600

Periodic Reporting for period 1 - PENSUMO (Savings Loyalty System Based on Micro-Contributions from Retailers)

Reporting period: 2016-03-01 to 2016-05-31

Summary of the context and overall objectives of the project

The software PENSUMO is currently using has been developed to meet the needs of a loyalty program. This plan is mainly based on micro-contributions to only one Saving Plan of the user. The contributions are made by shops, brands, companies and so on associated to the program and also by micro-contributions resulting from the payments made by a card o payment method, regardless of the formatting (physical or digital) and the channel used.) Our generic product is the “saving schemes by consumption”, and this fact demonstrates the Pensumo’s business model is strengthening and our proposal can be applied small-scale. This proposal goes far beyond and has the capability to become a real and universal Saving Economical Model the governments and states should take into account.
Pensumo is planning to direct the scope of use towards Big Data Marketing or Corporate, which is the word used for the usage of data coming from big information volumes for Marketing projects (but not exclusively). The technology to be used is Hadoop Opensource Technology.

Evangelizing before commercializing: The Right to Save
Everyone from birth, has the right to own an Individual Saving Plan (personal contingency funds) for free, where he can gather micro-contributions and direct economic incentives for purchases or other kind of measurable activity. The contributions will always have a voluntary nature and will be done by the environment of the person.
The public powers and administrations will encourage the personal funds of the citizens, companies, associations, etc. with fiscal incentives (direct taxes reduction) and education campaigns for the Right to save.
The public powers will provide the citizens with the required technology for being able to perform the measurement of their activity. This way, they will have access to the micro-contributions from their surroundings.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Currently, our customers and users can perform the access process to the Saving Plan daily using their smartphone. First, they have to download de free APP for Android or IOS, sign up to the system and with this app they can accumulate money for their purchases by scanning the tickets, performing other readings with the phone, checking balance in the Saving Plan, geolocalize the participating stores, check balances and perform extra contributions.
Nowadays, the economic transaction where the PENSUMO software is embedded can be made with the APP and in a similar way to the TravelClub program. The buyer identifies himself at the payment and the seller recognizes the Pensumo card with the existing Pensumo tablet and types the amount of the purchase. Our project definitely believes that the very cheap smartphones consumption market will explode and there will be widespread acceptance of its use by consumers. It is a necessary condition, but not enough.
During the last months we have designed a prototype with a TFT-LCD screen where information videos are played. The videos are about the system, currently in the first stage, and allow us to spread the concept in an easy and friendly way. When this system reaches the market stage, it would be able to allow the user to sign up, check for nearby stores, watch videos and access Pensumo brochures and cards.

We made a demonstration with our technological and commercial pilot that works in Borja (Zaragoza) since November 2013 where currently, the 10% of the population is daily playing PENSUMO.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Pensumo is planning to direct the scope of use towards Big Data Marketing or Corporate, which is the word used for the usage of data coming from big information volumes for Marketing projects (but not exclusively).
The offer of PENSUMO to our customer (the insurance company) is presenting the PENSUMO Plataform as a tool implemented by an APP self-managed by the final user. This APP registers the purchases and even other incentive actions (recycling, cultural consumption, sport practicing, etc.) because receiving small economic contributions is a motivation for performing those actions.
Our marketing arguments are based on the innovative differentiation that they represent compared to other insurance companies that don’t have loyalty programs with contributions for future savings and also the high load of Corporate Social Responsibility criteria in PENSUMO.

Everyone from birth, has the right to own an Individual Saving Plan (personal contingency funds) for free, where he can gather micro-contributions and direct economic incentives for purchases or other kind of measurable activity. The contributions will always have a voluntary nature and will be done by the environment of the person.
The public powers and administrations will encourage the personal funds of the citizens, companies, associations, etc. with fiscal incentives (direct taxes reduction) and education campaigns for the Right to save.
The public powers will provide the citizens with the required technology for being able to perform the measurement of their activity. This way, they will have access to the micro-contributions from their surroundings.

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