Perk Labs Launches Digital Gift Cards in The United States

Rhea-AI Summary

Perk Labs Inc. (OTCQB:PKLBF) has launched its digital gift card offering in the United States, enhancing its mobile commerce platform, Perk Hero. This initiative follows Perk's expansion into the U.S. market and aims to improve the shopping experience by providing customers with a convenient way to purchase, gift, and earn rewards on digital gift cards. Initially, available categories include popular retailers like Barnes & Noble and Bed Bath & Beyond. With a significant increase in demand for digital gift cards, Perk is well-positioned to capitalize on this e-commerce trend.

Positive

• Launch of digital gift cards broadens product offerings.
• Expansion into the U.S. market opens new revenue streams.
• Partnerships with well-known retailers enhance consumer appeal.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 6, 2021 / Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FKT:PKLB) ("Perk" or the "Company"), the parent company of Perk Hero, the mobile commerce platform with perks on curated lifestyle products and digital gift cards, today announces the launch of its digital gift card offering in the United States. The digital gift cards are available on both www.perkhero.com and on its mobile app.

"Following our recent expansion into the US market, we are excited to add digital gift cards as a new offering in the United States," said Jonathan Hoyles, CEO of Perk Labs. "One of our top priorities is to enhance our marketplace with desirable digital consumer goods, and by offering digital gift cards we provide our customers with a convenient and flexible way to spend, gift and earn cash back rewards."

Gift card categories that will initially be available through Perk Hero in the US include Barnes & Noble, Bed Bath & Beyond, Dominos, Michaels, and Wine.com. Perk will be adding additional high-demand digital gift cards in the coming weeks and months.

Perk has developed an innovative platform for the sale of digital gift cards, allowing users to buy for themselves, send to friends as gifts, save the digital gift card in the Perk digital wallet as stored value, earn cash back rewards on the purchase of digital gift cards, and earn rewards for referring digital gift cards to friends and family.

InComm Payments' 2020 Gift Card Research found that online channels as destinations to purchase gift cards increased by as high as 22% for network-branded cards, a trend that coincided with consumers focusing on e-commerce. Likewise, 44% of gift card shoppers said they are more interested in giving and receiving digital gift cards now than in the past.

About Perk Labs Inc.

Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FKT:PKLB) is the owner of Perk Hero, the mobile commerce platform on a mission to make shopping experiences more engaging, convenient, and rewarding. Perk has partnered with vetted specialized brands across North America to bring its customers products that are eco-friendly, natural, organic, and ethically sourced. Consumers can also buy digital gift cards from top merchants that include gaming and electronics, apparel, dining, and more. The Perk Hero platform, currently available in Canada and the US, was engineered for reliability and scale using enterprise-level technology fit for businesses of all sizes. The platform also features Shopify integration, contactless payments using Apple Pay, Google Pay and Alipay, as well as its own digital currency called Perk Coin, a gamified loyalty program, e-commerce dropshipping capabilities, pre-order and pick up, and in-store payments with a QR code.

For more information about Perk Labs, please visit www.perklabs.io. Visit Perk Hero at www.perkhero.com

For more information contact:

Jonathan Hoyles, CEO
Perk Labs Inc.
(833) 338-0299
investors@perklabs.io

Iryna Zheliasko, Manager,
Corporate Communications
CHF Capital Markets
416-868-1079 x 229
iryna@chfir.com

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 the demand for digital gift cards. 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.

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FAQ

What is the significance of Perk Labs launching digital gift cards in the U.S. on May 6, 2021?

The launch of digital gift cards enhances Perk Labs' product offerings and helps the company tap into the growing demand for online gift card purchases.

Which retailers are initially offering digital gift cards through Perk Hero?

Initial offerings include Barnes & Noble, Bed Bath & Beyond, Dominos, Michaels, and Wine.com.

How does Perk Labs' digital gift card platform benefit customers?

Customers can purchase, gift, and earn cash back rewards on digital gift cards, providing a flexible shopping experience.

What trends are influencing the demand for digital gift cards according to recent research?

A 2020 study found that online gift card purchases increased by 22%, with 44% of shoppers expressing greater interest in digital gift cards now than in the past.