Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, are pleased to announce a new level to their partnership with Barnet Technologies. Following the company's previous strategic partnership announcement with Barnet Technologies on February 3rd, 2022, and as a result of the successful integration with Barnet POS, Fobi and Barnet now support an all-new “one-tap” digital loyalty membership program powered by the mobile wallet. Retailers will push an onboarding link by way of email or text through their Barnet POS or other CRM system to their current customers.

Customers will then simply accept the terms and conditions by selecting “add to wallet,” which will simply and easily add the new digital loyalty pass into their mobile wallet which comes pre-installed on all iOS and Android phones worldwide. Furthermore, retailers can promote new signups and acquire new customers through their social media, advertising, in store digital signage and printed QR codes. Fobi will generate revenue through a one-time set up and onboarding fee as well as a monthly SAAS model.

Digital Wallet passes from participating retailers provide easy and immediate access for customers to their loyalty points, stored value credits, e-gift cards or stamp card functionality. Currently, an end-user who is part of an existing retailer loyalty program who wants to collect or redeem points at a physical liquor retailer through the Barnet POS system needs to provide their name and cell phone number to the cashier, which is personally identifiable information that they must share publicly, and which the cashier needs to input correctly. Using Fobi's new digital Wallet pass solution, the customer simply shows the QR code on the digital member card, the cashier scans it and the points are automatically credited to or deducted from the customer's loyalty account.

This is a significant enhancement of the current in-store retail customer experience, and digital wallets are much more secure than physical wallets encrypted transactions and biometric protection, as described in this recent article. The retailer can also use geofencing to push a notification to their customer's lock screen when they are near the store, encouraging them to come in and redeem their points. In addition to the Fobi wallet pass technology, Bevy Pass will also feature Fobi's PassPro Hub portal which is an AI powered shopper data intelligence platform.

The powerful Fobi Hub backend enables retailers to deliver real-time personalized marketing and promotions directly to the mobile wallet pass, based on each individual shopper's past purchase history. The adoption of Apple and Google Pay mobile wallet pass utilization is also increasing rapidly behavior accelerated by the pandemic. According to a recent report by Juniper Research, the number of people using digital wallets is expected to reach 4.4 billion by 2025, rising from 2.6 billion in 2020, with QR codes accounting for 40% of all digital wallet transactions.

The desired goal of all the players in this industry is obviously one tap or scan payment and rewards for customers.