Fobi AI Inc. (FOBI: TSXV
FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing
real-time data analytics through artificial intelligence to drive
customer activation and engagement, is pleased to announce they are
part of a group of 7 companies that has launched one of the most
expansive Pilot programs for 8112 Universal Digital Coupons. Other
companies involved included Wells Enterprises makers of Blue Bunny®
Ice Cream, IT Retail, Lagree’s Food Stores, nData Services, SMS
Promotions, and The Coupon Bureau (TCB).
KEY BENEFITS FOR CUSTOMERS, CPG BRANDS AND
RETAILERS
The pilot program provides several key benefits:
- Customers can redeem
coupons right from their mobile phone, with no need to print or
clip coupons which may be forgotten at home.
- CPG Brands are able
to tell in real-time how their campaigns are performing and make
any necessary changes immediately.
- CPG Brands also have
real-time validation of the coupons by TCB to reduce fraud. They
will also be able to create coupons for higher value items without
worrying about increased loss as a result of fraud.
- Retailers will enjoy
rapid reconciliation and payment of the digital offers.
THE PILOT PROGRAM PROVIDES THE FIRST DIGITAL CLEARANCE
AND REAL-TIME RECONCILIATION OF 8112 COUPONS
The pilot, initially organized by nData Services, IT Retail, SMS
Promotions and Qples by Fobi, is being conducted at 3 LaGrees Food
Stores in Colorado. Customers of the LaGrees stores are being sent
coupons for Blue Bunny ice cream that have been created in the
Qples by Fobi platform to their mobile phone. Alternately,
customers can also use the Qples QR code on the in-store signage
provided by SMS Promotions to download the coupon directly to their
phone. When the customer purchases their Blue Bunny ice cream at
the check-out counter, they can show the coupon on their mobile
phone, have it scanned and The Coupon Bureau validates in
real-time, thanks to the integration provided by IT Retail. Once
TCB validates the coupon and the customer receives their discount,
it is sent to nData Services who reconciles the coupon, ensuring
LaGrees get paid for the coupon much more rapidly than legacy
coupon programs. Finally, Qples by Fobi provides attribution data
through its online portal, helping Wells Enterprises understand how
the campaign is performing in real-time, and allowing them to make
changes to optimize the campaign mid-flight.
“The LaGree family is excited to continue our long history of
bringing new innovations to Colorado, by partnering with Wells
Enterprises and the other providers to bring 8112 digital offers to
our customers!” stated Megan
LaGree, co-owner of
LaGrees. LaGrees Food Stores is a 2nd generation
family-owned business that is proud to have been serving Colorado
families for over 30 years. Founded by the LaGree family, the chain
has a history of innovation, being one of the first grocers to
adopt scanning technology in Colorado in the 1980’s.
TCB Chief Integrations Officer Jeff Hudson
stated: “It has been incredible to see these 7 different companies
come together to make this 8112 Universal Coupon Pilot launch
successful. This pilot shows that the new 8112 industry
standard works flawlessly, and that there are significant benefits
for all the players involved. We look forward to seeing
widespread implementation of the 8112 Universal Coupon standard in
the marketplace shortly.”
IT Retail Product Manager Richard Sutton
stated: “At the ACP conference in 2019, the ACP announced that The
Coupon Bureau was granted the contract to serve as the source of
real-time coupon validation. For me, the lightbulb went off —
finally a single point of truth for coupon data; I realized this
solution would provide improved validation of coupons and solve the
coupon fraud problem in the US. Prior to 8112 by TCB the POS
systems had little means to validate coupons with the fragmented
data sources for Family Codes and lack of conformance with the 8110
standards to ensure properly coded coupons with no method to
prevent duplication of CPG offers. The abuse of 8110 coupons
resulted in significant losses to both Retailers and CPG’s, so we
are excited to see this come to an end.”
Val Stark, SMS PROMO Director stated: “The
future of the Coupon Industry is here now with the development and
enactment of the 8112 barcode and The Coupon Bureau. This will
enable tighter controls, less fraud and give brands more direct
contact with the consumers. Both digital and print will benefit
from the personalization of the coupons.”
Sam Jonas, nData
CEO stated, “The emergence of 8112 technology will
democratize access to CPG digital offers for thousands of
retailers. It truly is a revolutionary development and nData is
proud to be part of this value chain that expands retail
promotional access while increasing retailer revenue by reducing
costs associated with handling coupons and issues of fraud.”
Fobi CEO Rob
Anson stated: “This Pilot Project for 8112 Universal
Digital Coupons is a significant step forward in driving mass
adoption. The ease of coupon creation and distribution that Fobi
provides, together with the attribution data for brands and
retailers are both key parts of this project. The other key element
is that Fobi is the only company that enables brands to be able to
deliver coupons via a website, an app, our mobile wallet passes and
now in-store, making it even easier for customers to redeem their
coupons.”
At this time, additional consumer product manufacturers plan to
provide more 8112 offerings for this pilot by the end of September
expanding consumer options and savings.
For more information on 8112 Universal Digital Coupons please
visit the Qples by Fobi Website at -
https://qples.fobi.ai/universal-digital
This Press Release Is Available On the Fobi Website.
About The Coupon Bureau
The Coupon Bureau's mission is to connect manufacturers,
retailers, and consumers through technology and community, to build
solutions to the issues of real time validated, retailer agnostic
coupons and fraud prevention. A non-profit corporation, TCB works
with members of leading coupon and retail associations - ACP, JICC,
FMI (The Food Industry Association), GMA, CONEXXUS, Consumer Brands
Association, and GS1 US - to develop new technology, support
third-party technologists, deploy educational programs for industry
stakeholders, and give back to the community. For more information
visit www.thecouponbureau.org.
About IT Retail
IT Retail is a grocery industry-leading POS provider, founded in
1994 in Crestline, CA. Built by grocers for grocers, their
point-of-sale system was created to solve an industry-wide problem:
there was no Windows-based POS on the market. Today, IT Retail is a
top leader in the grocery technology space, providing innovative
point of sale solutions to over 6,000 customers — ranging from
mom-and-pop grocery stores to national supermarket chains.
About nData
nData Services LLC: nData Services is committed to supporting
the clearing of AI8112 offers with the newest technologies that
shorten retailer funding and expand data insights. Founded by
payment professionals with an understanding of settlement at scale
and the needs of the independent retail market, nData will provide
a new option for supporting these retailers by acting as a “Service
Bureau” assisting the industries’ thousands of owners to
participate in the new 8112 technology. www.ndataservices.com
About Fobi
Fobi is a cutting-edge data intelligence company
that helps our clients turn real-time data into actionable insights
and personalized customer engagement to generate increased profits.
Fobi’s unique IoT device has the ability to integrate seamlessly
into existing infrastructure to enable data connectivity across
online and on-premise platforms creating highly scalable solutions
for our global clients. Fobi partners with some of the largest
companies in the world to deliver best-in-class solutions and
operates globally in the retail, telecom, sports &
entertainment, casino gaming, and hospitality & tourism
industries.
For more information, please contact:
Fobi AI Inc. |
|
Fobi Website: www.fobi.ai |
Rob Anson, CEO |
|
Facebook: @ Fobiinc |
T : +1 877-754-5336 Ext. 4 |
|
Twitter: @ Fobi_inc |
E: ir@fobi.ai |
|
LinkedIn: @ Fobiinc |
SMS Promotions, Val Stark, Director
vstark@s-m-spromo.com
nData Services Sam Jonas
CEO
sjonas@ndataservices.com
This news release contains certain statements that constitute
forward-looking statements or information, including statements
regarding Fobi's business and technology; the ability of Fobi to
engage with industry participants to achieve its goals; the
development of Fobi's technology; and the viability of Fobi's
business model. Such forward-looking statements are subject to
numerous risks and uncertainties, some of which are beyond Fobi's
control, including the impact of general economic conditions,
industry conditions, competition from other industry participants,
stock market volatility, and the ability to access sufficient
capital from internal and external sources. Although Fobi believes
that the expectations in its forward-looking statements are
reasonable, they are based on factors and assumptions concerning
future events which may prove to be inaccurate. Those factors and
assumptions are based upon currently available information. Such
forward-looking statements are subject to known and unknown risks,
uncertainties, and other factors that could influence actual
results or events and cause actual results or events to differ
materially from those stated, anticipated, or implied in the
forward-looking statements. As such, readers are cautioned not to
place undue reliance on the forward-looking statements, as no
assurance can be provided as to future results, levels of activity,
or achievements. The forward-looking statements contained in this
news release are made as of the date of this news release and,
except as required by applicable law, Fobi does not undertake any
obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements
contained in this document are expressly qualified by this
cautionary statement. Trading in the securities of Fobi should be
considered highly speculative. There can be no assurance that Fobi
will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
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