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LOS ANGELES and CHATSWORTH, Calif., Aug. 02, 2017 -- Prosperity Investments, under its Joyful ATM brand, has entered into an agreement with Provision Interactive Technologies, Inc. ("Provision"), a subsidiary of Provision Holding, Inc. (OTCQB:PVHO), to integrate its 3D holographic display and coupon redemption platform into Joyful ATMs to increase in-store engagement and purchases at point-of-sale.
More than 48,000 Joyful ATM units are planned to be deployed throughout the United States and in another 68 countries over the next 72 months, at locations including banks, retailers, convenience stores, gas stations, and government buildings. Through the partnership, the ATMs will project 3D holographic advertising messages to attract customers to the unit. Once the customer approaches the unit, they can redeem coupons for the advertised products which can be used immediately, driving enhanced point-of-sale activity.
“Today, Provision’s patented 3D holographic technology is deployed in hundreds of retail locations across the country, providing added value to consumers and new revenue streams for merchants,” said Harold Jahn, director of Prosperity Investments LLC. “The Company has an exceptional management team and technical staff in place to meet our ATM deployment schedule, and we look forward to bringing this unique offering to our retail partners and their customers.”
The initial 2,000 Joyful ATM units integrated with Provision’s 3D advertising technology will be deployed throughout the United States in the first half of 2018.
“Joyful ATMs have a strong channel presence and wide customer reach, with tens of thousands of locations, and valuable real estate, with machines located in convenient stores, gas stations and community centers, that is tremendously attractive to advertisers,” Provision President and CEO Curt Thornton. “We look forward to further expanding our footprint across the retail market with our 3D holographic display technology, in both the U.S. and internationally. We are confident that partnering with Joyful ATM and Prosperity Investments will enable robust penetration into a ubiquitous retail channel to capitalize on this compelling opportunity and breakthrough the clutter with the use of augmented reality.”
A recent study by Provision found that its network yielded a 17.4 percent average coupon redemption rate, with a maximum rate of 44 percent, which far exceeds the published national average coupon redemption rate of one-to-two percent.
About Joyful Financial Solutions
Joyful Financial Solutions, a wholly owned division of Prosperity Investments LLC, will offer its clients the ability to conduct real time bill payments and check cashing at its Joyful ATMs, plus a variety of additional innovative online mobile financial services.
About Provision Interactive Technologies, Inc.
Provision Interactive Technologies, Inc., a subsidiary of Provision Holding, Inc. (OTCQB:PVHO), is the leading developer of intelligent, interactive 3D holographic display technologies, software, and integrated solutions used primarily in retail settings. Provision’s 3D advertising displays are designed to increase in-store engagement, coupon redemption and point-of-purchase activity.
Provision's 3D holographic display systems represent a revolutionary technology that project full color, high-resolution videos into space detached from the screen, without the need for special glasses. Provision holds more than 10 patents related to its 3D holographic technology, for both consumer and commercial applications. For more information, visit www.provision.tv.
Forward-Looking Statements
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements unless legally required.
CONTACT Media Relations Kate Tumino / Alyssa Mariano [email protected] / [email protected] 212-896-1252 / 212-896-1276 Investor Relations Philip Carlson / Steve Silver [email protected] / [email protected] 212-896-1233 / 212-896-1220
