Perk Labs Inc. Announces Agreement with Bird Fuels for a Custom Payment Solution

Rhea-AI Summary

Perk Labs Inc. announces that Bird Fuels has chosen its subsidiary Getit Technologies Inc. as its payment technology provider. The agreement will provide Bird Fuels with a custom-branded payment portal for various sales transactions, expecting to process up to $20 million in digital payments annually.

VANCOUVER, BC / ACCESSWIRE / March 26, 2024 / Perk Labs Inc. (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB) ("Perk" or the "Company"), is pleased to announce that Bird Fuels has selected Perk's subsidiary Getit Technologies Inc. ("Getit") as its payment technology provider. The agreement provides Bird Fuels with a custom-branded, unified payment portal capable of processing a wide range of sales transactions for a variety of different transaction types.

Bird Fuels is a large bulk fuel, lubricant, propane and HVAC provider. Bird Fuels has offices in Collingwood, Owen Sound, and Orangeville, and services their customers throughout Southwestern Ontario using their cardlock refueling stations, and fleet of fuel and propane trucks for customer delivery.

"We selected Getit to enhance our customers' digital experience," said Michael Bird, Managing Partner at Bird Fuels. "We're confident our customers will appreciate the ease and simplicity of credit card management, fully online ordering and payment, and the ability to process multiple transaction types all on one unified platform. Additionally, our customers' security is our top priority, and Getit's PCI-compliant payment processing helps us uphold that commitment."

The flexibility of Getit's platform allows Bird Fuels to manage the sale of its more than 1,000 retail items and numerous service offerings. Getit also enables Bird Fuels to quickly and conveniently update its product offerings, details, specifications, and stock.

"Under the Bird Fuels agreement, we expect to process as much as $20 million in digital payments a year, representing an estimated $280,000 to $400,000 in transactional revenues, with a 45% gross margin" said Ryan Hardy, CEO of Perk. "We're looking forward to demonstrating the scalability, security, and flexibility of the Getit platform with a complex purchase environment with this partnership with Bird Fuels."

About Perk Labs Inc.

Perk Labs Inc., (CSE:PERK)(OTCPINK:PKLBF)(FKT:PKLB), the owner of Getit Technologies Inc. and Perk Hero Software Inc. ("Perk Labs"), provides innovative mobile ordering and payment systems, allowing customers the ability to scan a QR code or NFC sticker to order and pay for their purchases directly from their phone. Perk Labs specializes in providing a single unified payment interface for complex purchase environments - environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations, parking fees, and service payments. Perk Labs provides a custom-branded solution that is ideal for multi-transaction brands such as stadiums and arenas, university and college campuses, conference centers, hotels and resorts, festivals and events, and professional service companies.

For more information, contact:
Ryan Hardy
CEO
(833) 338-0299
investors@perklabs.io

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, and expectations of future revenues for the Company. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

SOURCE: Perk Labs Inc.

View the original press release on accesswire.com

FAQ

What company has been selected by Bird Fuels as its payment technology provider?

Bird Fuels has chosen Perk Labs Inc.'s subsidiary Getit Technologies Inc. as its payment technology provider.

What is the estimated annual digital payment processing volume under the agreement?

The agreement expects to process up to $20 million in digital payments annually.

What is the gross margin expected from the transactional revenues?

The estimated transactional revenues are expected to generate a 45% gross margin.

Why did Bird Fuels select Getit as its payment technology provider?

Bird Fuels chose Getit to enhance its customers' digital experience, offering ease of credit card management, online ordering and payment, and the ability to process multiple transaction types on one platform.

What services does Bird Fuels provide?

Bird Fuels is a bulk fuel, lubricant, propane, and HVAC provider, servicing customers throughout Southwestern Ontario.