Zonetail Signs a Major Agreement with Fortis, and Will Soon Generate Revenue from People Paying Their Monthly Rent
Toronto, Ontario--(Newsfile Corp. - July 19, 2022) - Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) ("Zonetail" or the "Company") announces it has signed its most significant partnership agreement in the past year, with Fortis, a leading payment processing and technology company that operates across the U.S. and Canada.
Zonetail's mobile platforms are designed for high-rise residential buildings, as well as property-managed townhouses and gated communities. The platforms connect the residents to the amenities and services of their building through the convenience of a mobile application.
Using the Zonetail platforms, residents can access the building's community news and activity feeds, community calendar, document libraries, and book building amenities, such as visitor parking or the elevator. In addition, residents can create and track maintenance requests, and receive important push notifications from property management. The Zonetail platforms digitize the entire communication process between property management companies and their residents.
Included on the platforms is a marketplace, highlighting the businesses and services in the local area that residents need and want. These businesses pay Zonetail a transactional fee for products and services purchased through the Company's platforms.
Zonetail is live in over 110,000 households across North America, and is currently onboarding an additional 20,000 units, with over 500,000 new apartment and condo units in its immediate pipeline.
Over the past twelve months, as Zonetail has been executing its rollout, the Company has received several requests from its existing property management clients, (as well as several prospective clients in its pipeline), to introduce payment processing into its platforms. Payment processing allows residents to pay their monthly rent or monthly maintenance dues right through its mobile applications, at the tap of a screen. To do so, Zonetail needed a payment processing partner, and the Company is pleased to announce that it has found one in Fortis.
Fortis' proprietary payments platform is designed to support and strengthen the commerce capabilities of any software platform. From enabling commerce to creating seamless exchanges and transactions to providing enriched data and expandable experiences, the Fortis platform strengthens the important relationship between software and user.
The introduction of payment processing, mentioned briefly in previous Zonetail corporate updates, creates what is expected to be a significant new revenue stream for the Company. Once launched, Zonetail will generate revenue from every resident paying their monthly rent or monthly maintenance dues who live in participating buildings. With the number of requests from property management companies asking for the service, the Company expects to have quite a few participating buildings.
"This announcement is a big one, and a huge milestone for the Company," said Mark Holmes, CEO and President of Zonetail. "We've been working on this for some time, as our property management clients have been asking for it. They want their tenants to use the Zonetail app for communication, but they don't want them to have to download and use a second app to pay their rent. They want it all in one, which makes perfect sense. We believe offering this vital feature will not only drive substantial revenue for the Company, but it will also drive an increase in overall adoption and usage of the platform."
"The Fortis and Zonetail partnership is shaping up to be a game changer in the residential industry," said Jimmy Nafso, President of Fortis. "The integration of Fortis' payments platform into Zonetail's robust solution will give more power to the property manager and increase ease of use for the customer. This new partnership also allows us the opportunity to further expand our footprint into the residential industry with new offerings."
Holmes went on to say, "We couldn't be happier to forge this partnership with Fortis. We have known the people at Fortis for several years, through our mutual partnerships with AAHOA. Fortis was looking to expand into the residential space, right as we were searching for a processing partner, so the timing was perfect."
The Company states that the payment processing feature for its property management clients is step one of the Fortis partnership. Upcoming developments also include (but are not limited to) payment processing for Zonetail's marketplace. This will allow users to purchase products or services from merchants on the Zonetail platform and place them into a virtual shopping cart. When they 'check-out' Fortis handles the payment processing, allowing for additional convenience for Zonetail users, and additional revenue for Zonetail and Fortis.
More news and updates on this major milestone will be issued in future press releases.
Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) is a mobile platform and market network that enables high-rise residents to better manage their homes by connecting people to products, amenities and services. Our Mission is to provide a state-of-the-art mobile platform that enables high-rise residents to better manage their homes by connecting people to products, amenities, and services. And our Vision is to build a critical mass of users in the hard-to-reach, high rise residential vertical, through a unique mobile market network model - providing vital information, products, and services at the tap of a screen. We are the search engine to optimize you home. Zonetail also has a partnership with AAHOA, the largest association of hotels in the world representing approximately 35,000 hotels and 65% of the U.S. hotel market. The Company expects to relaunch its hotel vertical when market conditions within the hotel industry have rebounded after COVID.
Please visit https://www.zonetail.com.
For more information, please contact:
President and CEO
Telephone: (416) 994-5399
Fortis delivers comprehensive payment solutions and commerce enablement to software partners and developers, processing billions of dollars annually. The company's mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners.
Please visit www.fortispay.com.
MEDIA CONTACT FOR FORTIS:
Legal Disclaimer and Forward-Looking Statements
This press release contains forward-looking statements that relate to Zonetail's current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "aim", "estimate", "intend", "plan", "seek", "believe", "potential", "continue", "is/are likely to" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Certain matters discussed in this announcement contain statements, estimates and projections about the growth of Zonetail's business, potential distribution partnerships and/or clients, and related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time-to-time. Zonetail undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are based on certain assumptions and analysis made by Zonetail in light of its experience and perception of historical trends, current conditions and expected future developments and other factors Zonetail believes are appropriate, and are subject to risks and uncertainties. Although Zonetail believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, prospective purchasers should not place undue reliance on these forward-looking statements.
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