Fobi is Part of one of the First End-to-End Pilots Tracking Key Milestones for 8112 Universal Digital Coupons
Fobi AI Inc. (FOBIF) has joined forces with six companies to launch a significant pilot program for 8112 Universal Digital Coupons. This initiative enhances coupon redemption for consumers by allowing them to use digital coupons directly from their mobile devices, eliminating the need for printouts. Key benefits include real-time campaign performance tracking for Consumer Packaged Goods (CPG) brands and quicker reconciliation for retailers. The pilot runs at three LaGrees Food Stores in Colorado, supporting immediate coupon validation and reducing fraud risks, thereby promoting a more efficient promotional landscape.
- Launch of pilot program for 8112 Universal Digital Coupons enhances customer experience.
- Allows real-time tracking and validation for CPG brands, improving campaign management.
- Quick reconciliation and payment process for retailers reduces operational inefficiencies.
- None.
This trial signals the impending start of a significant improvement in the user journey for redeeming coupons, in campaign attribution for CPG Brands and for Retailers to be compensated more quickly
VANCOUVER, B.C., Sept. 13, 2022 (GLOBE NEWSWIRE) -- 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.
FAQ
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