SmartCard Marketing Systems Inc (OTC:SMKG) Enters Definitive Deal to Acquire The Portfolio of Chat Bot AI to Accelerate Digital Transformation In Fintech and PayTech Segments

Rhea-AI Summary

SmartCard Marketing Systems Inc (OTC:SMKG) has signed a Letter of Intent to acquire the Intellectual Property of Chat Bot AI, expected to enhance client acquisition and conversions. The deal includes the purchase of 1.5 million shares at $0.033 each and entails a cash payment of $25k in 12 installments. Additionally, a 10% royalty on future sales is planned for three years. This acquisition positions SMKG to utilize advanced AI solutions across various sectors, including Fintech and Paytech, potentially expanding market reach and enhancing service offerings.

Positive

• Acquisition of Chat Bot AI aims to enhance client experience and optimize services.
• Integration of AI technology in Fintech and Paytech segments to attract more clients.
• Projected growth in Chat Bot market, increasing potential revenue.

Negative

• Cash payment of $25k may strain financial resources if not managed effectively.
• Future royalty obligations of 10% could impact cash flow from AI technology sales.

New York, NY, March 02, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- SmartCard Marketing Systems Inc (OTC:SMKG): The company recently entered a Letter of Intent to acquire the Intellectual Property of Chat Bot AI to further accelerate and complement client acquisition and conversions and now finalized the agreed purchase terms.

Note: Executive management is excited about this addition to its portfolio of intellectual property of applications for Fintech & Paytech AI solutions. The property of a Chat Bot AI source code and working logic from the "Vendor" which has agreed to sell on a non-exclusive offering of its proprietary library in segments of Real Estate, HealthCare & Retail, now collaborating to deliver in the agreement specialized Chat Bot AI to complement SmartCard Marketing’s portfolio in Fintech, Paytech for Ecommerce, EKYC, Cross-border FX ,  Blockchain, Biometrics, 5G, Events, Workforce, Teleconference and Travel segments.

Massimo Barone, CEO of SMKG, stated, “We are excited to acquire an existing portfolio of Chat Bot AI which streamlines and optimizes the client experience and offers a comprehensive features list with Business Intelligence to facilitate the Digital Journey for Banks, Telecoms, Governments and Enterprises that we are focused on. The opportunities in adding Chat Bot AI to our existing EKYC registration, Ecommerce Shopping, Cross-border Money Transfers and optimizing Digital Workforce tasks creates huge opportunities for us and we envision collaborating with our clients and partners adding significant value to assist in managing client activations and executing transactions seamlessly.”

Chat Bot Market Overview: The chatbot market was valued at USD 17.17 billion in 2020 and is projected to reach USD 102.29 billion by 2026, registering a CAGR of 34.75% over the forecast period, 2021 - 2026. Virtual assistants are increasing because of deep neural networks, machine learning, and other advancements in AI technologies. Virtual assistants, such as chatbots and smart speakers, are used for various applications across several end-user industries, such as retail, BFSI, healthcare, etc. For instance, the banking sector has been a significant adopter for newer technologies, primarily due to reliance on speed, trust, and communication. Chatbots in banking sector facilitates the communication and build customer relation through cognitive analytics through learning customers thinking for instant response.

Source; Chatbot Market | Growth, Trends, and Forecast (2020 - 2025) (mordorintelligence.com)

Transaction detail Summary:

•  1.5 million shares of SMKG at price of $0.033
•  $25k USD cash total, paid in 12 equal installments of $2k USD over the period of 12 months.
•  10% royalty for a 3 year period on fees generated from the future sales of the Chat Bot Ai technology
•  Delivery of requirements by SMKG to integrate and interoperability with a select set of the company’s applications; Axepay, Granularchain, Phaces.io, Profilr.social & Articul8te
  
  
  
• SmartCard Marketing Systems Inc (OTC:SMKG) and the Vendor are under Non-Disclosure to maintain the confidentiality of the Vendor for competitive reasons and positioning in the market. In addition, SMKG believes that the Chat Robo AI portfolio integrated with the Portfolio suite will create a unique Digital Experience in Ecommerce, Retail, Banking, Events, Transit and Cross-border FX to name few.

About us

SmartCard Marketing Systems Inc (OTC:SMKG)is an industry leader in specialized industry e-commerce, cloud and mobility applications to the global PayTech and FinTech markets. SMKG is an entrepreneurial boutique technology company, providing business intelligence and digital transformation strategies with a proprietary portfolio of applications and wireframes for banking, enterprises, retail e-wallets, digital id, e-KYC, blockchain, cross-border FX, digital workforce, events management, education, tele-medicine and ride-booking industries.

For more info visit

www.smartcardmarketingsystems.com or visit our business applications marketplace at www.Emphasispay.com.

We seek a safe harbor.

CONTACT: Massimo Barone CEO
mbarone@smartcardmarketingsystems.com
SmartCard Marketing Systems Inc. OTC:SMKG 

Ph: 1-844-843-7296 news@smartcardmarketingsystems.com

FAQ

What is the purpose of SmartCard Marketing Systems' acquisition of Chat Bot AI?

The acquisition aims to enhance client acquisition, optimize client experience, and expand market reach in Fintech and Paytech sectors.

What are the financial details of the SMKG and Chat Bot AI acquisition?

SMKG will purchase 1.5 million shares at $0.033 each, pay $25k in cash over 12 months, and pay a 10% royalty on future sales for three years.

How will the Chat Bot AI technology impact SMKG's business?

The integration of Chat Bot AI is expected to streamline operations and enhance service offerings across various sectors, potentially increasing revenue.

What is the outlook for the Chat Bot market relevant to SMKG?

The Chat Bot market is projected to grow from $17.17 billion in 2020 to $102.29 billion by 2026, indicating significant opportunities for SMKG.