PERTH, AUSTRALIA: YPB Group Limited has signed a non-exclusive Master Services Agreement (MSA) with India’s Optimum Interface Consulting (OIC) which provides investigative and risk mitigation services including the provision of anti-counterfeit technology solutions, a news release said.
OIC works with a large number of Fortune 500 companies in the pharmaceutical, electrical, IT, automotive, finance, export houses, travel & hospitality, banking sector, education, chemicals, tobacco, FMCG, telecom, export, reality and computer consumable industry sectors www.oic-india.com.
The Master Services Agreement (MSA) is for a three year term commencing 29 September 2020 and appoints OIC as YPB’s agent with the right to promote and sell YPB’s suite of product authentication technologies to its customers in India. It will earn a 12% commission on every successfully executed customer purchase order with YPB.
OIC has made a thorough assessment of YPB’s technology and has already identified a number of sales opportunities for YPB’s T2 Tracer technology within its customer base
Counterfeiting is a huge challenge for the Indian economy costing the country approximately US$15 billion each year and the problem has been exacerbated more recently by the growing shift to online commerce in a market where over 30% of drugs sold online are fake.
YPB Group CEO John Houston said: “OIC is a great partner for us to re-enter the Indian market and the MSA is a low cost and risk free entry into what is a potentially large market. To partner with a respected operator with a well-entrenched customer base saves us the considerable cost of establishing our own sales presence there. The MSA also dramatically fast-tracks potential sales opportunities especially for our proven Tracer product. We are now up skilling OIC’s people on our technologies and our own team will be on hand to address product inquiries from OIC’s potential customers.”
‘Demand for our technology continues to grow and tendering activity is pleasing despite the impact that the COVID-19 pandemic is having on our business development efforts. Apart from this MSA we expect to report more sales contracts in the very near term.”
YPB Group Limited (ASX:YPB) is an Australia-based product authentication and consumer engagement solutions provider. YPB’s proprietary smartphone enabled technology suite allows consumers to confirm product authenticity and, for brands, that triggers consumers’ engagement.
The combination of YPB’s smartphone authentication solutions and its SaaS Connect platform, creates ‘smart’ product packaging, opening cost-effective, digital and direct marketing channels between brands and their consumers. Connect gathers actionable data on consumer preferences. It can then host tailored marketing campaigns directly back to the scanning smartphone.
YPB is currently focused on the rapidly growing Australian, South East Asian, and Chinese markets. Its focus is dairy, cannabis, alcohol and cosmetics where the viral growth of fake products, particularly in Asia, affects brand value and endangers consumers.
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