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YAP To Collaborate With Global IT Giants For Short-Range Network Technology

By March 7, 2017 at 7:50 am
2012 Consumer Electronics Show Showcases Latest Technology Innovations (Photo : Ethan Miller/Getty Images)

YAP, a Korean location-based coupon app operator is planning to collaborate with several global IT giants to provide its short-range network technology or what is termed as the hybrid beacon. This has been confirmed by Ahn Kyung-hoon, the CEO of YAP.

The company is currently negotiating multiple contracts with approximately five to six global IT and telecom companies to offer its online-to-offline commerce system. Korea Times has this report after Ahn announced in an interview at the Mobile World Congress in Korea.

The beacon is described as a small hardware device which is usually set up at stores as reported by Korea Times. This device also allows users to acquire mobile promotional coupons as they enter the shops and stores which are established with the company's technology.

Moreover, YAP's beacon system benefits from ultrasound frequencies which operate even when users' tracking location have been turned off and their Wi-Fi network is not active. However, the YAP Chief opted not to give details on the names of the companies they are planning to partner with.

But there are some reports telling that Alibaba, Tencent, and Baidu are included in the list and other telecom companies in Europe and China. The company will definitely expand its platform into 20 to 30 countries not later than the end of the year.

As YAP boosts its internal strategy, the company could gain a lot of users by partnering with a messenger service operator. And this could somehow give the company profits through the commissions gained from the beacon ecosystem.

So far, YAP is focusing on the Korean market and they had already signed contracts with firms like Starbucks Korea and some retail giants mostly those that are operating the country's dominant convenience store chains.

The company has so far secured 70 patents over its location-based network technologies since its establishment last 2013. YAP now sees the opportunity for global expansion, thus the partnership with global IT giants.

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