TORONTO, Sept. 29, 2022 (GLOBE NEWSWIRE) -- iSIGN Media Solutions Inc. (“iSIGN” or “Company”) (TSX-V: ISD) (OTC: ISDSF), and its reseller, Smart City Services International (“SCSI”) are pleased to announce the launch of a fifty-vehicle pilot deployment of iSIGN's HALO.fx technology, commencing on October 15, 2022 for twelve months.
This paid pilot will equip fifty private transit buses operating in Mexico City with the HALO.fx node. Each node will capture occupancy levels, passenger ingress and egress data and gather information from nearby mobile devices. The information collected will address immediate concerns regarding fare-evasion detection, rider behaviour, route planning, and resource deployment.
To a large degree, Mexico and most Latin American countries rely on currency payments by passengers. HALO.fx and PHACT technologies will allow transit companies to independently validate the number of riders and calculate the cash fares collected, resulting in improved ROI and increased data gathering on riders.
Sal Haro, CEO of SCSI, has stated, "Fare evasion is the biggest drain on revenue that the transit operators are experiencing. By deploying HALO.fx, the transit operators will realize savings in the neighborhood of $100 million per year across all vehicles currently in use."
The pilot deployment will also be used to evaluate HALO.fx's ability to improve public safety by using object recognition in tandem with the embedded PHACT module, to provide a record of individuals that have been present on the vehicle and trace their routes throughout the monitored spaces. Successful results from the public safety evaluation will provide additional revenue opportunities for iSIGN as this component is an additional paid feature of the HALO.fx platform. Commenting again on the opportunity, Sal Haro stated, "While fare evasion is an immediate concern due to its impact on operator revenue, the long-term benefits provided by the public safety component simply cannot be overstated. The long-term costs incurred by operators related to incidents of crime, vandalism, and violence, have long-term impacts on rider confidence and attendance, placing negative pressure on revenue that can linger for indeterminate lengths of time."
HALO.fx provides unobtrusive monitoring and workflow-based resource deployment features that help mitigate the problems related to incidents of crime, vandalism and violence. This is accomplished in a manner that does not infringe on privacy, collects no personal information, and can be deployed by the operators with no special tools or knowledge required.
Technology can also be used for public safety and security alerts and public, tourist and brand advertising to generate additional revenue for transit operators and provide data to advertisers, thus improving ROI and increasing the data being gathered on its passengers.
Adding HALO and HALO.fx technology to SCSI's existing partnership with Payolog, a global payment and Smart City Solutions leader, will increase accountability throughout private and public transit locations, stations and onboard vehicles as a unified network. The new technology introduces loyalty programs and rewards for passengers using public transit through a collaboration between SCSI, Payolog and iSIGN. It is believed that the introduction of a loyalty rewards program combined with cashless ticketing will result in increased ridership levels as well as further increasing the safety of drivers and passengers.
About Smart City Services International
Being involved in Smart City concepts for the last seven years in Mexico, SCSI has established relationships with various transportation authorities. We have leveraged our consulting team in Mexico to focus on, and target government and private transportation agencies and are prepared to activate our marketing advertising and awareness campaigns. With our strong technology partners, we can advance and improve the daily lives of working citizens with a positive customer experience by implementing Smart City Payment solutions for all ticketing requirements. We are ready to market an all-in-one solution in the transit space. We are the first to provide smart digital payment solutions, coupled with a mobile advertising broadcast network, a missing persons' alert broadcast network and mobile cash app program, All-In-One. https://www.luckyridepay.com/
About iSIGN Media
iSIGN, a Canadian company based in Toronto (Richmond Hill), Ontario is a leading provider of interactive mobile proximity marketing and public security alert solutions; on March 30, 2022, it announced the signing of an exclusive worldwide Licensing Agreement in perpetuity with SIMBL Business Enablement Inc. for its PHACT technology, including HALO and the underlying framework, including SPE Asset Management System for smart location analytics and monitoring Intellectual Property (IP). Conceived as a contact tracing platform, the overall platform enables the monitoring of individuals' movement, congregation behaviours, and general movements within a monitored space while maintaining connectivity and compliance with all public privacy policies. PHACT provides real-time and historical information regarding individual movement, dwell, crowd, and public behaviour. www.isignmedia.com
Forward-Looking Statements
This news release may include certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with iSIGN Media’s business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect iSIGN Media’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. iSIGN Media assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
© 2022 iSIGN Media Solutions Inc. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
Company contact:
Remko Noteboom
iSIGN Media Solutions Inc.
remko@isignmedia.com
Neither the 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 accuracy of this release.
