PKG:CC - ParcelPal Signs Annual Wallet Pass & AltID License Agreement with Fobi AI
Deal gives ParcelPal access to technology that delivers clear differentiation and gives them a leg up in the regulated delivery sector.
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2023) - ParcelPal Logistics Inc. (OTCQB: PTNYF) (CSE: PKG) (FSE: PT0A) (the "Company" or "ParcelPal"), is pleased to announce that the company has signed a new annual North American license agreement with Fobi AI Inc. to provide ParcelPal with its Wallet Pass platform and digital ID verification solution, AltID.
Fobi is a leading global AI and data intelligence company operating today in over 150+ countries worldwide. Fobi provides real-time applications to digitally transform and future-proof business operations. Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe and is the largest data aggregator in Canada's hospitality & tourism industry.
ParcelPal to Accelerate 2023 Growth Strategy with Integration of Fobi's Technology Solutions into Mobile Application Relaunch
In our latest press release, Rich Wheeless, CEO of ParcelPal, recently announced that the company is focusing its 2023 growth strategy on speeding up its digital transformation efforts and integrating best-in-class technologies into the strategic relaunch of the ParcelPal mobile application. This license agreement with Fobi signifies a milestone growth opportunity as the first of many integrations of cutting-edge technology into the ParcelPal offering.
Fobi will provide ParcelPal with a plug-in Wallet Pass solution that will transform and augment the customer experience, delivering an enhanced communication channel and delivery service to the company's customer base. The Wallet Pass is a natural extension to the mobile app, enabling ParcelPal to introduce and leverage next-level technology that will help scale its services and provide a significant competitive advantage, especially as the company looks to expand the reach of its mobile platform into Europe and the Asia-Pacific (APAC) region.
Fobi's AltID to Provide Simple, Secure, & Digitalized Credential Management for Delivery Services in Regulated Industries
Fobi's AltID platform is a secure and easy-to-use digital age and ID verification solution that will provide ParcelPal with a completely new means of ensuring proper authentication for logistics, shipping, and delivery services in regulated industries, including tobacco, liquor, and cannabis. AltID offers a contactless and more verifiable approach to the distribution of regulated products, enabling the company 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.
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. Through AltID, ParcelPal will be able to significantly scale its delivery services for regulated products and offerings, while providing customers with an improved experience that places data privacy, protection, and security at the forefront.
Rob Anson, CEO of Fobi, states: "Our technologies are very well suited in providing Parcel Pal with not only an enhanced technology addition to the current tech stack but it provides an entry into the regulated industries with a clear competitive advantage. As ParcelPal is well established in the industry with the likes of FedEx, DHL and Purolator, it makes for a huge opportunity to rapidly scale the technology globally."
Rich Wheeless, CEO of ParcelPal, states: "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."
The company looks forward to providing additional material updates in the coming days and weeks.
About ParcelPal Logistics Inc.
ParcelPal is a Vancouver, British Columbia based company that specializes in last-mile delivery service and logistics solutions. We are a customer-driven, courier and logistics company connecting people and businesses through our network of couriers in major Canadian cities including Vancouver, Calgary, and Toronto, as well as in the western region of the United States. Some of our verticals include pharmacy & health, meal kit deliveries, retail, groceries and more.
ParcelPal Website: www.parcelpal.com
Neither the Canadian Securities Exchange ("CSE"), the Securities and Exchange Commission nor any other securities regulatory authority has reviewed and do not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.
OTCQB - Symbol: PTNYF
CSE - Symbol: PKG
FSE - Symbol: PT0A
Contact Information
Investor Contact
investors@parcelpal.com
T: (587) 883-9811
Company Contact
Rick Underhill, Director of Investor Relations
ParcelPal Logistics Inc.
investors@parcelpal.com
T: (587) 883-9811
Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation: general business, economic and social uncertainties; litigation, legislative, environmental, and other judicial, regulatory, political, and competitive developments; and other risks outside of the Company's control.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161353