PORT TOWNSEND, Wash.--(BUSINESS WIRE)--Intellicheck Mobilisa, Inc. (NYSE MKT: IDN), the industry leader in identity authentication, verification and validation solutions, today announced the Company has been awarded a contract from a major U.S.-based multinational telecommunications corporation to expand Retail ID™ to an additional 3000 retail locations. The contract has an estimated value of $1.5 million. Retail ID provides immediate identity authentication, enabling retailers to reduce fraud, increase credit card and loyalty program enrollments and to quickly auto-populate product and service agreements.
The global telecommunications giant's use of Retail ID, currently operational in many of its corporate-owned and franchise locations, will now be expanded to support the organization's entire national dealer network. Retail ID will be used to authenticate the identification of customers purchasing products and services, conduct account look-ups and to initiate new service contracts while concurrently improving the customer experience with increased efficiency, speed and accuracy during the sales process. With the new agreement, the customer will be leveraging their existing enterprise software license that uses Intellicheck’s core ID Check technology and upgrading their hardware platforms to expand the product’s usage throughout their storefronts nationwide.
Intellicheck CEO Dr. William Roof commented, "Retail ID is changing the customer experience at the point of purchase. We are pleased that a prominent national retailer currently using our solution has decided to expand Retail ID throughout its national operations. The Intellicheck team is revitalizing our product portfolio with upgrades to user interfaces and access to both standard and proprietary data sources, while addressing both mobile devices and existing point of sale equipment. We are also implementing data analytics to provide our customers with a focused view of their unique environment that they can use to improve efficiencies and grow their businesses. We are particularly pleased that our re-engineered products are quickly gaining customer traction and we expect to see greater account growth with existing clients as well as winning significant numbers of new customers. The pillars of our business are evolving with product innovation into a rapidly growing identity authentication market, a services pricing model that fits all retailers, and a new management team that is implementing this timely vision."
Retail ID reduces credit card fraud and enhances the customer loyalty and product purchase processes by reading driver licenses and other government-issued identification documents and instantly and accurately accessing the industry’s most up-to-date data sources to authenticate the ID and alert sales personnel of possible irregularities. Retail ID's key features include its ability to enable identification authentication from more than 200 unique Department of Motor Vehicles (DMV) barcode formats from all states and Canadian Provinces in addition to providing existing customer account look-ups and for new purchase contracts and service agreements. Intellicheck’s proven solution increases credit card and loyalty program enrollments by providing an efficient sales process that delivers a premium customer experience with the rapid, accurate mapping and auto-population of standardized data into application forms. Retailers also benefit from the ability to rapidly deploy and integrate the Intellicheck solution with existing point-of-sale systems.
"This contract is another important confirmation of Retail ID’s value. It is also significant in demonstrating the success of our turn-around plan, which includes growing product adoption with our legacy customers. We will continue to work to increase our business with legacy customers as we transition the company to our new high-margin, recurring revenue model. Ultimately, this contract represents further validation that we have the right product in the right market at the right time and that our customers continue to purchase our products, year after year. At the same time, it points to our success in executing another key component of our strategy to increase market penetration, which is rapidly occurring with a promising group of new customers," noted Dr. Roof.
Intellicheck Mobilisa's robust patent portfolio of over 20 patents includes many pertaining to identification technology. Its identity solutions support customers in the national defense, law enforcement, retail, hospitality and financial markets. The Company’s products scan, authenticate and analyze components of identity documents including driver licenses, military identification cards and other government forms of identification containing magnetic stripe, barcode and smart chip information. Once extracted from the identity card, the information can be used to provide safety, security and efficiencies throughout these markets.
About Intellicheck Mobilisa
Intellicheck Mobilisa is an industry leader in identity authentication, verification and validation systems. The Company holds over 20 patents including many pertaining to identification technology. Its identity solutions support customers in the law enforcement, national defense, hospitality, retail and financial markets. The Company’s products scan, authenticate and analyze components of identity documents including driver licenses, military identification cards and other government forms of identification containing magnetic stripe, barcode and smart chip information. For more information on Intellicheck Mobilisa and ICMOBIL, please visit www.icmobile.com.
Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward looking statements including, without limitation, the statements regarding Intellicheck Mobilisa's proposed offering, that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to general market conditions, development and product commercialization activities, and the success of its research, development and expansion of sales and marketing team, plans and strategies. These and other risks and uncertainties are identified and described in more detail in Intellicheck Mobilisa's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2014, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Intellicheck Mobilisa undertakes no obligation to publicly update or revise any forward-looking statements.
