Miami Beach, FL / September 15, 2022 –Alfi, Inc.(NASDAQ: ALF) (the “Company”), an AI enterprise SaaS advertising platform, and Paynuity, Inc., a financial technology and customer service provider, today announced they have agreed to enter into a technical collaboration agreement with respect to certain technology sharing and development efforts related to the creation of product offerings which combine Alfi’s digital-out-of-home advertising platform with Paynuity’s next-gen enterprise financial technology services.
With technology playing an increasingly critical role in every aspect of business, companies recognize the need to accelerate the development of digital advertising and financial payment solutions to ensure they remain on the competitive edge. The Alfi-Paynuity collaboration will seek to bring together deep skills in business and technology strategy, product ideation, and technology development, to help support clients through successful deployments of new advertising and payment solutions.
James Lee, Alfi Interim CEO and Chairman of the Board, stated, “The Alfi-Paynuity collaboration has the potential to be a powerful combination. Paynuity’s understanding of complex financial product interactions, its engineering expertise and collaborative approach is complimentary to how the Alfi team works. We believe this could help accelerate the deployment of Alfi technology on our existing network of rideshare AI-powered screens while also expanding the opportunities to deploy our combined offering to other verticals. Specifically, we are evaluating the opportunity to partner with Paynuity to install Alfi-AI enabled screens at gas pump locations throughout the United States, combining our unique software capabilities with Paynuity’s advanced financial technology solutions and offering the customer a tailored experience in which advertisers may programmatically define and deliver sophisticated, targeted campaigns, complete with QR code payment facilitation and fulfillment, to reach the right person at the right time with the right message.”
Ron Moses, Paynuity CEO/CIO & Co-Founder, states, “This is an exciting collaboration which seeks to integrate Alfi’s demographic advertising technology with our end-to-end omni-channel payments and banking platform. After an exhaustive search of technology to manage advertising for our network of ATM machines, kiosks, and screens on AFD/gas pumps, we believe Alfi presents an opportunity to maximize our secondary advertising revenue opportunities for the more than 150,000 new screens we plan to install across our merchants and independent sales organization partners. We have not found any other advertising technology company in the marketplace that can replicate what Alfi’s AI-based computer vision tablet-native advertising solution can do.”
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Alfi’s or Paynuity’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in Alfi’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Alfi does not undertake any duty to update such information, except as required under applicable law.