Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc, which harnesses artificial intelligence (AI) and data analytics to enable digital transformation, revealed that it has signed a new annual North American license agreement with courier company ParcelPal Logistics Inc.
The Vancouver-based company data intelligence company said Fobi will provide its Wallet Pass platform and digital ID verification solution, AltID to ParcelPal Logistics. The deal includes a one-year contract with auto-renewal and includes an annual license fee of $55,000 and a fee of $0.10 per active pass per month, plus an additional $0.95 for each AltID verification.
According to Fobi, ParcelPal Logistics specializes in providing last-mile delivery and logistics solutions to the pharmacy and health, meal kit, retail, groceries, and regulated tobacco, liquor and cannabis industries. ParcelPal customers include Amazon, FedEx (NYSE:FDX), London Drugs, GoodFood and Electronic Arts.
In a statement, ParcelPal CEO Rich Wheeless said: “This deal with Fobi provides us with a clear market differentiator as we become hyper-focused on driving our digital transformation strategy and strengthening our mobile customer experience.”
“We want to provide our customers with best-in-class experiences, and one of the best ways to do that is through an integration with the Fobi Wallet Pass platform and digital ID verification solution. I have no doubts that this addition will provide us with a significant competitive advantage, especially as it relates to deliveries for regulated industries.”
Through the Wallet Pass platform, Fobi will provide ParcelPal with a “seamless plug-in solution” that will augment the customer experience, delivering an enhanced communication channel and delivery service to its customer base, said the company.
Fobi said that Wallet Pass is a “natural extension” to the mobile app, enabling ParcelPal to introduce “next-level technology” that will help scale its services, especially as ParcelPal looks to expand the reach of its mobile platform in Europe and the Asia-Pacific (APAC) region.
AltID is secure and simple to use
Significantly, Fobi’s AltID is a secure and easy-to-use digital age and ID verification solution that will provide ParcelPal with means of ensuring proper authentication for logistics, shipping, and delivery services in the highly regulated tobacco, liquor, and cannabis industries.
AltID offers a contactless and more verifiable approach to the distribution of regulated products, enabling ParcelPal to easily scan and validate customer credentials through the wallet pass at each point of delivery. With automated ID verification, customers simply authenticate their identities online and download verified passes to their mobile wallets.
As a result, not only does AltID enable ParcelPal to pre-verify customers’ digital credentials, but it also provides the courier with a guaranteed audit trail for ID verification that reduces risk and liability concerns, noted the company. AltID also ensures that verified wallet passes only display the necessary data for verification, such as name and age, to ensure that personally identifiable information (PII) is not collected or stored.
Meanwhile, Fobi founder and CEO Rob Anson said: “There is no better timing for this new deal with ParcelPal than with the relaunch of their mobile customer experience.”
“Our cutting-edge technologies, including wallet passes and AltID, align perfectly with ParcelPal’s focus in 2023 on integrating new and innovative solutions into their product offering. They can now leverage two of Fobi’s existing technologies to deliver an enhanced solution that positions ParcelPal as a market leader in the delivery space for regulated and other industries.”
Anson noted that the license deal “further validates the market readiness for mobile-first and digital identity solutions.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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