POSaBIT and Alpine IQ Announce Point of Sale Loyalty Integration

Rhea-AI Summary

POSaBIT Systems Corporation (OTC:POSAF) has entered a partnership with Alpine IQ, enhancing its payments infrastructure in the cannabis sector. This two-way integration streamlines transactions, enabling dispensaries to offer loyalty rewards directly at the point of sale. The collaboration aims to boost sales and customer satisfaction, providing dispensaries with valuable insights into consumer behavior. POSaBIT's CEO, Ryan Hamlin, praised the partnership's potential, while Alpine IQ’s CEO highlighted its importance for retailers seeking growth in competitive markets.

Positive

• Partnership with Alpine IQ enhances POSaBIT's service offerings for cannabis retailers.
• Integration provides dispensaries with loyalty program capabilities directly at the point of sale.
• Improved customer experience expected to drive incremental sales and satisfaction.

Negative

• None.

SEATTLE--(BUSINESS WIRE)-- POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF), the leading provider of payments infrastructure in the cannabis industry, is excited to announce a deep integration partnership with Alpine IQ, the leading data and marketing solutions provider for cannabis retailers. This two-way integration at the point of sale allows for a frictionless experience for customers and dispensaries. It also provides dispensaries a 360° program, enabling them to cultivate unmatched guest loyalty and drive incremental sales.

Enabling loyalty rewards to be passed directly to the point of sale for redemption are among the many integration benefits between POSaBIT and Alpine IQ. This synergy enables budtenders and associates to easily sign up guests for their loyalty program during the transaction. The dispensary is able to capture meaningful insight and leverage it to delight their guests, driving satisfaction and elevating the overall experience.

“We could not be happier with what we’ve accomplished with the wonderful Alpine IQ team. They have been an incredible partner and together we have created a fantastic two-way integration,” said Ryan Hamlin, CEO/co-founder of POSaBIT. “We know that retailers across the country will absolutely adore the experience we’re now offering.”

“The Alpine IQ POSaBIT integration radically improves the overall capabilities available to retailers who are serious about long term growth,” said Nicholas Paschal, co-founder and CEO of Alpine IQ. “We are excited to partner with a technology vendor focused on delivering the rapid innovations operators need to grow effectively in highly competitive markets.”

About POSaBIT

POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, and emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly, and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com.

About Alpine IQ

Alpine IQ empowers the legal cannabis industry by providing customer-focused technology to help retailers of all sizes resolve growth challenges and generate revenue. The company provides customers with the industry’s most extensive suite of tools to protect, segment, and promote all in-store and online operations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005303/en/

Investor Relations:

investors@posabit.com

Media Relations:

Oscar Dahl

855-767.2248

oscar@posabit.com

Management:

Ryan Hamlin

Co-founder and CEO of POSaBIT

855-767-2248

investors@posabit.com

Hayden IR

James Carbonara

(646) 755-7412

james@haydenir.com

Source: POSaBIT Systems Corporation

FAQ

What does POSaBIT's partnership with Alpine IQ involve?

The partnership involves a two-way integration that enhances payment processing and customer loyalty programs at the point of sale for dispensaries.

How will the integration benefit cannabis retailers?

The integration will streamline transactions, enable loyalty rewards, and provide valuable customer insights, driving sales and satisfaction.

What is POSaBIT's focus in the cannabis industry?

POSaBIT focuses on providing innovative payment processing solutions tailored for cash-only cannabis businesses.

When was the POSaBIT and Alpine IQ partnership announced?

The partnership was announced on October 5, 2023.

What is the stock symbol for POSaBIT?

The stock symbol for POSaBIT Systems Corporation is POSAF.