Fobi AI and Barnet Technologies are rolling out a new digital wallet utility that is designed to make it easier for consumers to access the benefits of a loyalty program. The two companies first announced their strategic partnership in February of this year, and have now integrated Fobi’s analytics technology with Barnet’s POS system.
In practice, the new utility will allow consumers to store their loyalty cards in the digital wallet on an Android or iOS device. Barnet’s retail clients can send a link to the members of their loyalty program via email or SMS, and those members can click that link to add a digital version of their loyalty card to their wallet. After that, they can open their mobile wallet to present a QR code to the cashier the next time they check out. The cashier will scan that code, and any activity (whether a purchase or a points redemption) will automatically be logged with that customer’s member profile.
According to Fobi, the new system is advantageous because it is easier to use than a traditional card, and because it does not force customers to share personal information with the cashier at checkout. The company noted that the use of digital wallets like Apple Pay and Google Pay has been increasing, to the point that 4.4 billion people will be using them by 2025. QR codes, meanwhile, are expected to be used in roughly 40 percent of all digital wallet transactions.
Barnet’s loyalty platform is being dubbed the Bevy Pass, and it is geared toward retailers in the alcohol and hospitality space. Geofencing technology allows businesses to send ads that will appear on someone’s lock screen when they are near a store, and those that adopt the solution will also have access to customer data through the Fobi PassPro Hub. That Hub lets retailers send ads directly to someone’s wallet, and to deliver targeted ads that take someone’s purchase history into account.
Customers accept the terms and conditions when they add the Bevy pass to their wallet. Fobi will collect an onboarding fee for each user on top of its subscription revenue.