Gaithersburg, MD, Sept. 02, 2021 (GLOBE NEWSWIRE) — mPhase Technologies, Inc. (OTC Pink: XDSL) (“mPhase” or the “Company”), a technology company developing the mPower 5G-enhanced electric vehicle (EV) charging network and consumer engagement platform, today announced that it has joined the Oracle PartnerNetwork (“OPN”), a channel partner program that provides resources and benefits for value-added resellers, independent software vendors and other businesses that wish to collaborate with Oracle. Today’s announcement highlights the latest step in a strategic engineering effort to seamlessly connect the mPower ecosystem to the retail industry’s leading global point of sale (“POS”) systems.
Oracle is one of the largest POS providers in the key retail categories that will be targeted by mPhase’s mPower EV-centric consumer engagement ecosystem. In the food and beverage categories alone, Oracle serves customers in 180 countries with more than 300,000 locations processing over 25,000 transactions per minute.
“One of our key initiatives as we launch and scale up our mPower platform is to gain greater access to the full retail cycle from the initial purchase decision to completion of that purchase,” explained mPhase COO Venkat Kodumudi. “We have the capability to drive sales via promotions and offers via our consumer engagement technology and gaining access to in-store POS systems gives us greater detail on the time and type of purchase. Porting our platform onto major POS systems closes an important loop and creates valuable data points that will enable the AI components of our software to generate an even better experience for consumers. The mission behind our mPower ecosystem is to ‘empower the way people shop, dine, fuel and interact with the world to create a richer life experience.’ Joining the Oracle PartnerNetwork will help facilitate true consumer personalization that can create a stronger link between consumers and retailers, leading to increased sales and customer satisfaction.”
mPhase is currently exploring relationships with POS providers and vendors affiliated with EV charging, food & beverage, and other consumer services that would complement the consumer experience within the mPower ecosystem.
About mPhase Technologies
mPhase is an emerging EV-centric technology company focused on consumer engagement using data analytics and artificial intelligence to create a monetizable link between consumers and retailers at opportunistic times and places. The Company is currently building a connected ecosystem of EV charging, 5G internet connectivity and software solutions that optimize consumer engagement within the framework of a SaaS/TaaS model. Branded under the mPower name, this ecosystem will empower the way people shop, dine, fuel and interact with the world to create a richer life experience. The mPower ecosystem is tailored to each individual’s tastes and needs, with particular emphasis on empowering tomorrow’s green consumer. mPhase also has data driven business units generating recurring revenue outside of its consumer ecosystem, in addition to legacy nanobattery technology and a related patent portfolio that are slated for future development. Additional information can be found at the mPhase website, www.mphasetech.com. Please follow us on twitter: @mPhase_Tech for the latest updates.
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This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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