TORONTO, ON / ACCESSWIRE / August 27, 2020 / KABN Systems NA Holdings Corp. (CSE:KABN) (the "Company" or "KABN" or "KABN North America"), a Canadian Fintech company that specializes in continuous online identity verification, management and monetization in Canada and the US, is pleased to announce that its cashback, loyalty and engagement platform, KABN KASH (www.kabnkash.com) is ready to begin its open trials and allow North American consumers and businesses to receive cashback from all of their online purchases at participating KABN KASH retailers.
The KABN KASH platform will initially be available through Liquid Avatar's Early Adopter program (www.liquidavatar.com), KABN's icon based digital identity platform, and will then roll out to KABN's Visa Card program (www.kabncard.com) and online directly through KABN KASH's website. The Company also has interest from 3rd parties for white label versions of the platform.
With over 175 major North American brand name online retailers available at launch and growing, the Company is offering consumers the ability to shop and earn cashback from great brands like Walmart, Nike, Saucony, Staples, Lenovo, Sephora, Levi's, Fanatics, Ancentry.ca, NHL Store, NFL Store, Saks 5th Avenue, Bloomingdales, AllSaints, Lookfantastic, Agoda, Enterprise, Decathlon, Viator, Stubhub and many more. Merchant programs differ and KABN KASH is working with its partners to find new and innovative ways to create value for users.
When a registered Liquid Avatar, KABN Card or KABN KASH user purchases from a KABN KASH retailer, KABN earns a commission which it splits with the purchaser, creating value for the Company and our users. Since KABN users are verified individuals, over time it can become potentially easier to create custom baskets of offers to suit an individual's needs. Unlike points and many other loyalty programs, users receive real money as the reward for shopping.
"Providing our users with cashback offers from leading online retailers reinforces the value proposition of the Company, and can potentially create a healthy revenue stream," said Michael Konikoff, CRO "Our goal is to continue to create new, unique and enhanced retailer relationships as well as increase the opportunities for users to earn cashback."
In a September 9, 2014 article, The Wall Street Journal reported that Rakuten paid an estimated $1 Billion USD in cash for leading cashback program Ebates, which at the time had approximately 2.5 Million users, each spending up to $1,200 per year through the system. The purchase price was based on an estimated value of $400 USD per user.
According to Dosh and The Center for Generational Kinetics in their report, Gen Z and Millennials as Customers and Trend Driver, published April 2020, they found the following:
Digital cashback rewards can be used to not only influence new buying behaviors but they can also solidify existing consumer bases.
Millennials are the most excited about using cashback app offers and are more likely than any other generation to shop at a store that instantly gives cashback through an app instead of shopping at their regular store.
A significant number of Gen X, Millennials and Gen Z all reported that cashback offers linked to a card would make them shop more at stores that offered such cashback rewards (over 80% for each of the generations).
Instant cashback apps are top-of-mind in today's digital marketplace. Most Americans (70%) are willing to download an instant cashback app. Among Millennials, that willingness jumps to 75%.
Two thirds of Millennials are likely to download an instant cashback app just to see which retailers participate and how much they can save.
The majority of Americans (82%) will shop more frequently at a store they haven't been to in a while if they are alerted about direct cashback offers.
Cashback offers also increase online sales. 74% of Gen Z and 70% of Millennials spend more money online if they know they will instantly receive 5% cash back.
Millennials are the most likely generation to have, use and download an instant cashback app.
"KABN North America is focused on providing opportunities for our verified users and to ensure that they are in control of their online identity and data," said Ben Kessler, CEO.
"KABN KASH provides a unique way for users to monetize their "known" status through Liquid Avatar and our other products."
KABN welcomes the public to request an invitation to be an early adopter of Liquid Avatar and earn rewards at: https://liquidavatar.com/liquid-avatar-early-adopter/
About KABN North America - www.kabnnaholdco.com
KABN Systems NA Holdings Corp. through its wholly owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of digital identity, empowering users to control and benefit from its use of their online identity. KABN propriety technology suite includes 4 key products:
Liquid Avatar allows users to create high quality digital icons representing their online personas. These icons, in conjunction with KABN ID, allows users to manage and control their Digital Identity and to use Liquid Avatars to share public and permission based private data when they want and with whom they want. www.liquidavatar.com
KABN ID is an Always On, biometric and blockchain based digital identity validation and verification platform allowing users to continuously and confidently prove themselves throughout the online community.
KABN Card is a Visa approved prepaid card program allowing users to manage both digital and fiat currencies and earn cashback and other loyalty incentives. www.kabncard.com
KABN KASH is a cashback, loyalty and engagement program that powers the KABN revenue ecosystem.
KABN provides its products and services at no cost to consumers and generates revenues through permission-based partner programs. www.kabnkash.com
For further information, please contact:
Ben Kessler Chief Executive Officer 647-725-7742 Ext. 700 firstname.lastname@example.org
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities under the KABN Financing in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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