• Significant Milestone: This partnership marks a crucial development in OMNIQ’s strategic expansion within the fintech industry.
• Enhancing Fintech Solutions: SHVA processes millions of transactions monthly, playing a key role in Israel’s financial sector. Collaborating with OMNIQ will further enhance fintech solutions across the region.
• Alignment with Strategic Goals: The collaboration aligns with OMNIQ’s strategic plans to expand fintech capabilities and improve customer experiences through innovative technology.
• Enhanced Product Offerings and Market Presence: The collaboration is anticipated to not only enhance OMNIQ’s product offerings but also strengthen its position in the rapidly evolving global fintech landscape.

SALT LAKE CITY, August 20, 2024 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a global leader in Artificial Intelligence-based solutions and supply chain management, is thrilled to announce that it has concluded the process and is poised for the signing of a collaboration agreement with SHVA (Automated Banking Services Ltd.), Israel’s premier payment processing company. This partnership marks a significant milestone in OMNIQ’s strategic expansion within the fintech industry.

SHVA, renowned for its pivotal role in facilitating electronic payments in Israel, processes millions of transactions monthly, supporting the majority of the country’s financial activity. The collaboration with OMNIQ signifies a substantial leap forward in enhancing fintech solutions across the region.

“This partnership marks a major advance for OMNIQ in the fintech sector,” said Shai Lustgarten, CEO of OMNIQ. “Collaborating with SHVA, a leader in payment processing, aligns perfectly with our strategic plan to expand our fintech capabilities and enhance customer experiences through innovative technology.”

The agreement between OMNIQ and SHVA is expected to introduce cutting-edge payment solutions, which will benefit both businesses and consumers by streamlining transaction processes and enhancing the security and efficiency of financial transactions.

“This is an exciting development in our journey to grow OMNIQ’s fintech business. By combining our advanced AI technology with SHVA’s robust payment systems, we are setting the stage for significant advancements in the fintech space,” added Lustgarten.

OMNIQ anticipates that this collaboration will not only enhance its product offerings but also strengthen its market presence in the rapidly evolving global fintech landscape.

This agreement follows OMNIQ’s successful EMV certification, a crucial milestone granted by major international credit card schemes such as VISA, MASTERCARD, and DINERS. This enables omniQ to process both domestic and international credit card transactions with enhanced operational capabilities.

ABOUT OMNIQ CORP

OMNIQ Corp. is at the forefront of technological innovation, focusing on advanced AI technologies for computer and machine vision image processing. The company develops a variety of products including data collection systems, real-time surveillance, and monitoring tools. These products are essential for sectors like supply chain management, homeland security, public safety, and traffic & parking management, helping to ensure the secure and efficient movement of people, goods, and information through critical locations such as airports, warehouses, and national borders.

OMNIQ serves a diverse clientele, including government agencies and Fortune 500 companies across industries such as manufacturing, retail, distribution, healthcare, transportation, logistics, food and beverage, and the oil, gas, and chemical sectors. By integrating OMNIQ’s cutting-edge solutions, these organizations are better equipped to manage the complexities of their industries, enhancing their operational capabilities.

Financially, OMNIQ is strategically positioned in rapidly growing markets. The company is making significant inroads into the Global Safe City market, projected to reach $67.1 billion by 2028, the smart parking market, expected to grow to $16.4 billion by 2030, and the fast-casual restaurant sector, anticipated to reach $209 billion by 2027, and the fintech market projected to grow to $1,152 billion by 2032. These market projections indicate strong potential for growth and the increasing demand for advanced AI technology solutions in these sectors.

ABOUT SHVA

SHVA (Automated Banking Services Ltd.) is Israel’s preeminent payment processing company, pivotal in handling a significant majority of the nation’s financial transactions. Established in 1976, SHVA has been at the forefront of financial technology, facilitating the seamless execution of electronic payments across the country.

SHVA’s expansive suite of services includes comprehensive card processing solutions, ATM and POS (Point of Sale) management, and the development of pioneering payment systems. These services are designed to ensure financial inclusivity and enhance accessibility, fostering a robust financial ecosystem throughout Israel.

With a legacy of innovation, SHVA continues to lead by example, setting standards in the payment processing industry. The company’s solutions cater to a diverse market range, supporting various sectors from retail and hospitality to government services, thus reinforcing its market position as a cornerstone of Israel’s financial infrastructure.

For more information visit https://www.shva.co.il/

Information about forward-looking statements

This press release includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, specifically under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, which address expected future events, economic performance, and financial outcomes, are not historical facts but predictions based on current expectations and projections.

Such forward-looking statements, identifiable by terms like “anticipate,” “expect,” “may,” “believe,” and similar expressions, should not be seen as guarantees of future results. They are based on the information available at the time of making and reflect management’s current expectations about future events. These statements are subject to various risks and uncertainties that could cause actual results to differ significantly from those projected or implied. Some of these risks include fluctuations in product demand, the introduction of new offerings, maintaining customer and strategic relationships, competitive pressures, market growth, financial liquidity, debt management, and the ability to integrate new acquisitions effectively.

Specific forward-looking statements in this release include expectations regarding financial strategies, revenue growth, and operational improvements. For a detailed discussion of risks and uncertainties that could affect OMNIQ Corp.’s future performance, please refer to our recent filings with the Securities and Exchange Commission at https://www.sec.gov. OMNIQ Corp. does not commit to updating these forward-looking statements unless required by law.

Contact OMNIQ

IR@OMNIQ.com