Datable Signs LOI with uBUCK To Integrate Loyalty Program Into uBUCK Pay and Flexible Cash Card Into Datable's Rewards Offerings USA - English
VANCOUVER, May 13, 2019 /CNW/ - Datable Technology Corp. (TSXV: DAC) (the "Company," "Datable," or "DTC"), developers of consumer marketing platform PLATFORM3 and soon to be launched flexxi Rewards Network (formerly named P3Consumer), announces it has signed a Letter of Intent (LOI) with uBUCK Technologies SEZC ("uBUCK"), a wholly-owned subsidiary of LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) ("LiteLink"), to enter into a strategic commercial relationship. The LOI was signed on May 6, 2019 with an initial term of 24 months and the option to renew for a further 24 months.
Under the terms of the LOI, uBUCK will integrate PLATFORM³, Datable's loyalty and rewards program into uBUCK's digital payments platform. This would allow account holders of uBUCK Pay — who can now make online payments and send worldwide payment transfers within seconds without paying for transfer fees — to also earn rewards for purchases and payments made within the uBUCK Pay digital wallet or on their uBUCK Mastercard. uBUCK and Datable will share transaction fee revenue from the convenience fees charged for uBUCK pin vouchers and debit card transactions.
Datable's customers are leading consumer brands that use PLATFORM³ to reward consumers for purchasing, veiwing content, sharing content via social media, referrring friends and completing surveys (see datablecorp.com). The terms of the LOI also stipulates that the uBUCK prepaid credit card will be featured as a reward for consumers to purchase with their points on Datable's clients' portals.
"We believe that Datable is the #1 Rewards platform on the market. They continue to sign up well-known brands and we're excited to be a part of their cash card offerings," says James Youn, CEO of uBUCK. Mr. Youn also commented, "The uBUCK Pay platform will see immediate growth. Datable's referrals will allow uBUCK to potentially gain access to millions of new users."
"Datable provides consumers of Fortune 500 brands with access to over 300 digital gift cards from leading retailers including Starbucks, Walmart, and Target. The partnership with uBUCK provides Datable with a unique and flexible cash card offering that our brand customers are looking to provide to consumers as rewards for engagement," says Robert Craig, CEO of Datable Technology.
Mr. Craig added, "We have proven that PLATFORM³ delivers value to leading consumer brands and consumers, the uBUCK partnership is a new source of transaction-based revenues for Datable. In 2019, Datable is launching new products and applications leveraging the opt-in personally identifiable information that for PLATFORM³ technology collects to generate new transaction-based revenues."
The terms of the agreement will also give Datable's data management platform access to non-identifiable user purchase history data to offer uBUCK Pay users coupons and discounts for their most popular and similar purchases.
About Datable Technology Corp. (DTC)
DTC has developed a proprietary, mobile-based consumer marketing platform – PLATFORM³ – that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands. PLATFORM³ is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM³ incorporates Artificial Intelligence and Machine Learning to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.com.
About uBUCK Technologies SEZC
Based in Georgetown, Cayman Islands, uBUCK Tech is a financial tech enterprise that specializes in decentralized digital payments and wallets. uBUCK Pay, its online payments platform and pin voucher solution, offers consumers, businesses and merchants a fast, commission-free and highly secure alternative to traditional payments. Customers can purchase pin vouchers within the uBUCK Pay app or at participating resellers. For details about uBUCK Pay, please visit uBUCKpay.com.
About LiteLink Technologies Inc.
LiteLink is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. uBUCK Pay is a multi-currency digital wallet that supports traditional fiat and digital currencies. Consumers are able to make online and offline purchases using the uBUCK debit card and send funds worldwide for free. For more information about LiteLink Technologies Inc., please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.
For additional information about Datable please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds and the results of financing efforts, - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Datable Technology Corp.
Datable Technology Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]
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