New Product Go-Live Begins in Upscale Department Store Chains This Month
JERICHO, NEW YORK –May 11, 2016–Intellicheck Mobilisa, Inc. (NYSE MKT:IDN), a leader in threat identification, identity authentication, verification and validation technology solutions, today announced a new technology solution specifically designed for mobile threat identification and fraud prevention in the retail market. Retail ID Mobile™ provides retailers with a mobile platform capability to prevent a variety of fraudulent retail transactions, while delivering a warmer, more personal customer experience that eliminates the need to integrate with the retailer’s point-of-sale system.
Retail ID Mobile installation is set to begin in two prestigious department store chains this month. Once fully installed at their locations, Retail ID Mobile has the potential to provide annual software licensing revenues of $450,000 from the two prominent department store chains. According to Intellicheck’s CEO, Dr. William Roof, the new product builds on the successes of Retail ID™, the industry standard for threat identification pertaining to fraud in the retail market. “We have been working closely with our clients to define and develop new approaches to fraud prevention that also support a warmer, more personal customer experience. Many retailers have begun deploying their retail IT systems on mobile devices, such as tablets and smartphones. We identified a clear path to supporting their new mobility requirements, while, at the same time, supporting our clients’ desire to avoid the cost and time associated with retail point-of-sale systems integration. Our close collaboration with our clients resulted in this new product. We expect growing adoption of Retail ID Mobile because unlike other available products it provides instant and accurate identification authentication and enhances the customer experience, while avoiding the fiscal and temporal costs of point-of-sale system integration,” said Dr. Roof.
Typically, point-of-sale integration initiatives are often resource intensive. They can lengthen the product installation schedule and move revenue recognition out as much as nine months or more. Dr. Roof said the Company recognized it could provide a better product than those currently available, while at the same time advancing revenue opportunities. “We seized on the opportunity to deliver another industry-leading technology solution that would also move revenue recognition in much closer, compress our sales cycle and expand our opportunities significantly, by eliminating the need to integrate with the point-of-sale system. To do this, we focused our Q1 2016 R&D on product development that would generate revenues more quickly and eliminate barriers for retailers and their customers,”
Dr. Roof explained.
Intellicheck holds 25 patents, with nine patents pending, pertaining to threat identification and identification technology. The Company’s real-time identity authentication and validation solutions support customers in the retail, hospitality, national defense, law enforcement, and financial markets. Intellicheck’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 threat identification, identity authentication, verification, and validation systems. Our technology makes it possible for our customers to enhance the safety and awareness of their facilities and people, improve customer service, and increase operational efficiencies. Founded in 1994, Intellicheck has grown to serve dozens of Fortune 500 companies including retail and financial industry clients, national defense clients at agencies, major seaports, and military bases, police departments, and diverse state and federal government agencies. For more information on Intellicheck, please visit www.intellicheck.com.