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Fobi AI - CEO, Rob Anson.
CEO, Rob Anson.
Source: Fobi AI.
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  • Fobi (FOBI) has signed a national Passcreator Wallet pass deal with S4S, Iceland’s largest shoe retailer
  • The deal involves the digitization of plastic gift cards and paper-based credit notes from S4S
  • S4S is Iceland’s largest non-grocery retail company with 14 stores and 4 online shops
  • The adoption of Fobi’s Passcreator Wallet pass will give S4S a significant advantage in Iceland’s very competitive gift card market
  • Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement
  • Fobi AI Inc. (FOBI) opened trading at C$3.00 per share

Fobi (FOBI) has signed a national Passcreator Wallet pass deal with S4S, Iceland’s largest shoe retailer.

The deal involves the digitization of plastic gift cards and paper-based credit notes from S4S that will now be managed and redeemed utilizing Fobi’s Passcreator Wallet pass.

S4S is one of the largest retailers in Iceland, and Fobi expects to generate immediate revenue through the licensing of Wallet passes to S4S through Leikbreytir.

S4S is Iceland’s largest non-grocery retail company with 14 stores and 4 online shops.

S4S was a pioneer in the plastic gift card space and also has a return policy that gives its customers a paper-based credit note that can be redeemed in-store.

Key reasons S4S wants to digitize their plastic gift cards and paper-based credit notes include environmental stewardship and cost savings.

S4S believes the adoption of Fobi’s Passcreator Wallet pass will give them a significant advantage in Iceland’s very competitive gift card market.

Petur Thor Halldorsson, CEO of S4S remarked,

“The wallet pass gift card solution that Fobi and Leikbreytir have developed for us is truly revolutionary as it enables us to immediately become more environmentally friendly, reduce costs, increase profits and improve our customer experience when it comes to managing and redeeming their gift cards. And their ability to deliver this solution so quickly to meet our very tight deadline for our advertising campaign showed incredible agility and justified our decision to work with them.”

Rob Anson, CEO of Fobi CEO commented,

“The solution for S4S is a perfect example of a win-win deal for Fobi’s Wallet pass solution. Helping companies with their digital transformation is what we are all about and replacing plastic gift cards with Wallet pass digital gift cards makes enormous sense. Wallet passes are also a green and environmentally friendly alternative to traditional plastic gift cards. Working with Leikbreytir we were able to deliver a custom solution for S4S that solved their pain point in a remarkably fast time frame, which further supports the innovation and agility that the Fobi team bring to every project we work on.”

To this end, Fobi and S4S have commenced discussions on expanding their relationship through the integration of Fobi’s loyalty program capabilities.

The gift card market grew at a CAGR of 8.3 per cent – but is expected to grow even faster from 2021 to 2031 due to the advent of digital gift cards creating a paradigm shift in the sector. Fobi is perfectly positioned to take advantage of this growing market with our Wallet pass technology providing analytics, marketing and engagement benefits far beyond the simple digital gift card solutions of our competitors.

Fobi is a cutting-edge data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits.

Fobi AI Inc. (FOBI) opened trading at C$3.00 per share.

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