VANCOUVER, BC, January 25, 2022. 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.”

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.”

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.

This press release is available On the Fobi website, and also on the Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement. For more details, please visit the Square page on our Fobi.ai website https://www.fobi.ai/square

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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This news release contains certain statements which constitute forward-looking statements or information, including statements relating to the use of proceeds from the Offering. 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 and capital markets conditions, 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, 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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