ShiftPixy’s Cutting-Edge Fintech Attracts New Brands as Ecosystem Continues to Grow
IRVINE, Calilf., April 27, 2018 (GLOBE NEWSWIRE) -- ShiftPixy, Inc. (NASDAQ:PIXY), a disruptive workforce engagement platform provider, has recently expanded its growing ecosystem with the arrival of new brands attracted to its unique financial and insurance transaction and metering platform, most notably a 27-location franchisee of one of the country’s largest pizza brands.
A primary differentiator to ShiftPixy’s technology includes its ‘micro-metering’ approach to incremental payment transactions and related insurance coverages based on real-time use and exposures. This leverages two critical technology functionalities. The first is the ‘micro metering’ of essential commercial insurance coverages required by operators – namely workers’ compensation and auto coverages on a delivery-by-delivery basis. The second is using ShiftPixy’s blockchain ledger to process and record critical P2P connections.
“Our underlying technology is a key reason why we stand out in the marketplace, so it’s always exciting to see new clients specifically drawn to our innovative capabilities when joining our ecosystem,” said Scott Absher, CEO of ShiftPixy. “Our self-delivery proposition is taking hold in surprising places. We knew it would be a high value proposition for fast food and fast casual operators, but just this week we welcomed a 27-location franchisee of one of the major pizza brands as a client. We are finding that our provisioning of essential commercial insurance coverages through our driver management application layer is highly valuable to even the big brand pizza franchisees where delivery has always been foundational to their business.”
With this ‘micro-metering’ technology catching the attention of the insurance community with its real time data visibility, the ShiftPixy self-delivery platform is now opening a lot of large client conversations which is expected to continue to drive rapid growth nationally. Further, ShiftPixy’s blockchain technology enhances its security capabilities that come with that rapid growth and scale.
This announcement comes on the heels of ShiftPixy announcing that last mile delivery courier Zion Delivery Services has entered its network, highlighting this unique employment model’s value across industries. In addition to ShiftPixy’s private blockchain ledger and its ‘micro-metering’ approach, it also leverages IBM’s Watson artificial intelligence engine to achieve a uniquely personal experience for workers and employers alike.
Note of Clarification
To be clear, ShiftPixy has never, does not now and will never use its blockchain technology in any form of cryptocurrency or cryptocurrency related application.
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ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.
ShiftPixy Cautionary Statement
The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings on Forms 1-A and 10-K and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.
Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.
Released April 27, 2018