PawnTrust Begins Development of "Pawn It"
Dinewise, Inc (OTC PINK:DWIS) has commenced the development of the 'Pawn It' feature, enabling online pawn transactions and broader access to collateral loans across the United States. This initiative follows the recent launch of the 'Buy It' marketplace, enhancing PawnPartners' ability to expand their market reach. Consumers will have the convenience of submitting loan requests online, with items verified by experts before payment is processed. The expansion leverages Artificial Intelligence to streamline processes, promising increased transparency and privacy in the growing online pawn industry.
- Launch of 'Pawn It' feature to facilitate online pawn transactions.
- Expansion following the 'Buy It' marketplace launch, indicating growth potential.
- Utilization of AI technology to enhance operational efficiency and user experience.
- None.
ATLANTA, GA / ACCESSWIRE / March 1, 2023 / Dinewise, Inc (OTC PINK:DWIS) (referred to as "Dinewise", "we", "us", "our" or the "Company") announces that it has started development of "Pawn It"; a feature that will allow consumers to pawn their items online and receive payment for their loan. PawnTrust is meeting the demand of its Pawn Partners by establishing "Pawn It."
Expanding on PawnTrusts' "Buy It" marketplace that launched earlier this week: the "Pawn It" feature looks to be another success and will allow its Pawn Partners to widen their footprint and facilitate collateral loans from anywhere in the United States. Consumers will be able to submit a loan request that includes information about the item such as condition, perceived value as well as any relevant documentation. Once the request is submitted a loan offer will be generated. The consumer can then accept the offer and receive a shipping label. The item arrives and is verified by our experts. After passing verification, e-loan documents are submitted, signed and payment is generated. The online pawn industry is growing daily and gives the consumer increase transparency, convenience, and privacy.
"We feel really good about expanding our reach, that will benefit consumers, who need immediate access to cash without the embarrassment of visiting a storefront," said Christina Moore, Director.
PawnTrust looks to continues its commitment to financial technology utilizing Artificial Intelligence in every aspect of its "Buy It" and "Pawn It" developments.
About PawnTrust
PawnTrust is the only marketplace exclusively for Pawn Shops. It allows users to buy, borrow and barter through an app on their mobile phone. PawnTrust has established Pawn Partners; which are local Pawn Shops, in which inventory is extrapolated into the PawnTrust Marketplace. This allows the Pawn Shops to immediately and seamlessly have their inventory displayed nationally. PawnTrust uses Artificial Intelligence (AI) in the marketplace platform to automate various workflows including advance image recognition algorithms. Items are automatically identified and descriptions are generated with remarkable accuracy which speeds up the process and standardizes the descriptions. This has the potential to transform the pawn industry where descriptive tags help to create a context based search for a user friendly interface. Using AI will bring an immersive and engaging experience.
Contact
PawnTrust Investor Relations
(650) 228-0680
invest@pawntrust.com
Forward-Looking Information
This release includes statements that may constitute ''forward-looking'' statements, usually containing the words ''believe,'' ''estimate,'' ''project,'' ''expect'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this release. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, risks and uncertainties related to the current unknown duration and severity of the COVID-19 pandemic and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
SOURCE: Dinewise, Inc.
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