VANCOUVER, B.C., Dec. 21, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, today announced a one year agreement with one of the largest operators of golf courses in North America, to digitize their member cards using Fobi’s new digital golf membership Wallet pass solution. Fobi will generate revenue from this and other such deals through an annual license fee and through monthly Wallet pass license fees on a per pass issuance basis.

FOBI SOLUTION TO IMPROVE CUSTOMER EXPERIENCE AND CONTRIBUTE TO ENVIRONMENTAL FRIENDLINESS

The company will utilize Fobi’s Wallet pass technology to provide integrated digital membership passes that will be included as part of their membership purchase process. They currently have 3 tiers to their membership program for golf and at the pro shops, rewards, etc. They will now use the Fobi Golf Wallet pass solution to deliver tiered digital membership cards that will live in the native wallet that is in every iOS and Android phone worldwide, improving the customer experience for their members, who no longer need to worry about forgetting their membership card at home. Fobi’s new Wallet pass membership solution is also better for the environment as it will enable Golf courses to replace their current plastic membership passes with digital ones, removing a significant amount of plastic from the environment. This is very similar to the recent deal Fobi announced with S4S in Iceland to replace their plastic gift cards with Digital Gift cards powered by Fobi’s Wallet pass solution.

INTEGRATION WITH GOLF COURSE POS AND COURSE MANAGEMENT SYSTEMS WILL IMPROVE CUSTOMER EXPERIENCE AND INCREASE REVENUE

Fobi is also integrating their digital golf membership Wallet pass solution into golf course POS systems, which means that golf courses can now track member purchases and use purchase behavior to drive more targeted communications and campaigns in real-time through their digital membership Wallet passes. This improves the customer experience by ensuring that any communications are targeted to the right members at the right time and place and can help to drive increased revenue from golf and merchandise through these more personalized and timely offers. Fobi will also be integrating this solution with golf course management systems enabling contactless check ins, ensuring a better golf day experience.

“This is a great opportunity for us to enter the golf world with one of the largest and most influential players in the industry. Fobi will now enable resort and course operators to provide their members with a more personalized digital experience,” said Rob Anson, Fobi CEO. “The combination of our Artificial Intelligence and Big Data applications combined with our Wallet pass activation will also provide operators with a means to unlock, leverage and monetize their data. We see this as a great first win for the company and yet another strong global opportunity.”

US GOLF COURSE INDUSTRY OVER $24 BILLION AND GROWING

According to a recent report from Statista , the Golf Course and Country Club industry in the US was over $24 billion in 2020.  This market is forecast to grow by 1.6% in 2021, after a small dip in 2020 due to COVID-19, creating an opportunity for Fobi to roll their new solution out to other golf course operators worldwide.

This press release is available on the Fobi Website and the FOBI Verified Forum On AGORACOM for shareholder discussion and management engagement.

About Fobi
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

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Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, and results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.

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