Fobi AI Inc. (FOBI: TSXV; FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to announce the partnership and integration of its Fobi platform with Square, owned by global technology company, Block, Inc. — formerly Square, Inc. The partnership includes the availability of the Fobi app on the Square App Marketplace for businesses of all types and sizes including those in the retail and food and beverage industries.
The upcoming launch of Fobi’s app in the Square App Marketplace will give Fobi access to Square’s global sellers, which is expected to help drive customer acquisition and revenue for Fobi.
“At Square, we’re constantly working to help businesses improve customer engagement and give them better options and information when it comes to their integrated commerce solutions,” said Vijay Vachani, Global Head of Partnerships at Square. “We’re looking forward to working with Fobi to offer our sellers around the world even more valuable data and real-time insights so they can continue to start, run, grow and adapt their businesses.”
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FOBI AND SQUARE APP BENEFITS FOR BUSINESSES
The Fobi and Square integration will offer Square sellers a unified platform for connecting and enhancing existing business tools in Fobi’s Insight Portal to monitor sales performance and gain customer insights including:
● Multiple retail outlets, franchises and channels – Businesses with multiple locations, franchisees and channels with different POS systems can use Fobi to integrate all their data into one unified dashboard and extract real-time insights to make informed business decisions.
● Acquisitions – Businesses that have acquired companies using different POS systems and lack visualization and integrated insights into the acquired companies can use Fobi to better understand those businesses and make data-driven decisions.
“The partnership with Square is a major milestone for Fobi and serves as yet another third-party validation of our capabilities,” said Rob Anson, CEO of Fobi. “Square has led the industry on contactless innovation and their dominance in the SMB category is very well-aligned with the focus and application of Fobi’s products. As a result of COVID-19, businesses have been forced to undergo 20 years of digital transformation in a matter of months. Fobi’s ability to deliver cross-platform and online and offline data analytics and business intelligence powered by AI in real-time will deliver huge value for businesses using Square’s ecosystem of commerce solutions.”
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Fobi’s app, now available in the Square App Marketplace, will enable its sellers to gain a real-time understanding of their customers’ purchasing patterns and lifetime value by connecting disparate online and offline data and multiple locations. Fobi will help Square sellers reduce costs and increase profitability by providing access to real-time insights that are based on the purchasing patterns and trends of their customers.
A recent survey by Square shows that 72% of Canadians are looking for socially distanced, cashless ways to support local businesses post-pandemic, and 80% of Canadians are reporting their commitment to buying local is more important now than before the pandemic. Fobi’s new partnership with Square offers North American sellers with even better ways to sell, run and improve their cashless businesses.