APPx Group Holdings, Inc. Announces CatchCoin Development Update
Montreal, Quebec (December 18, 2018)—Technology incubator and mobile app development company, RewardDrop Software, Inc., a division of APPx Group Holdings, Inc. (CSE: APPX) (FSE: APO) (the “Company” or “APPx”), announced a development update on CatchCoin™, their augmented reality rewards platform, where participating businesses offer real cash rewards to consumers who visit their locations and make purchases, thus generating measurable foot traffic with a great return on investment (ROI).
Penetration testing of the CatchCoin web application, REST API, iOS application and Android application has been completed by Scalar Decisions Inc.. Scalar also performed application source code compliance reviews and application architecture reviews for both Android and iOS. Complete details can be found in the APPx press release dated December 6, 2018.
Back-end architecture, including databases, web application and API, has been migrated to the Microsoft Azure platform, allowing for greater security and scalability for the CatchCoin platform. Azure will facilitate the upcoming Beta program, public launch and product growth as CatchCoin expands into new regions.
Augmented Reality technologies ARCore (Android) and ARKit (iOS) have been integrated into the CatchCoin mobile applications and will allow app users to view geolocation-based rewards as 3D objects in real-world space via their smartphone. Additionally, QR code generation and scanning has been implemented within the platform and mobile apps, which will enable advertisers to securely offer additional rewards to CatchCoin app users who make a purchase at their locations.
The sales team has received signed commitments from 50 businesses to take part in the CatchCoin Beta program in Montreal in early 2019. Participating businesses will gain early access to the Location Portal and work with the CatchCoin team to create geolocation-based campaigns at their locations. A group of Beta testers will be given early access to CatchCoin iOS and Android mobile applications to view and claim rewards by visiting and making purchases at participating businesses.
“CatchCoin development has progressed tremendously over the recent months,” said Kyle Maglio, VP of Product Development at APPx. “With core systems in place, our sales and marketing teams have been delivering full product demos to both committed and prospective advertisers. With the upcoming Beta program, feedback received from participating businesses and app users will help us to further refine and improve CatchCoin before launch.”
The CatchCoin platform will empower retailers, event providers and brands to deliver real cash rewards in exchange for location visits and sales. Highly customizable campaigns allow advertisers to target the customers they want, when they want, to generate foot traffic, promote high-margin merchandise and maximize staff productivity. Consumers with the CatchCoin app will earn real cash rewards by visiting, and making purchases at, participating advertiser locations.
To learn more about CatchCoin, please visit www.catchcoin.com.
About APPx Group Holdings, Inc.
APPx Group Holdings, Inc. is a Fintech incubator that offers technology-based business solutions. Our growing partnership network allows us to service a wide range of markets: advertising, blockchain, crypto, fintech, and telecommunications products and services.
With our strong reach, we’re constantly adding to, and enhancing, our portfolio. We strive to be industry leaders, creating innovations engineered from the ground up by our diverse culture of talent. APPx delivers sustained value by strategically solving our customers’ immediate and long-term needs, helping them reach their goals on a global scale.
On Behalf of the Board of Directors
Signed “Rahim Mohamed”
Rahim Mohamed, CEO
For further information, contact:
APPx Group Holdings, Inc.
Rahim Mohamed, CEO
Jay Ruckenstein, President
Certain statements in this release are forward-looking statements/information. Statements about the Company’s plans and intentions, the Private Placement, use of proceeds, other potential transactions, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the ability to successfully develop software, anticipated costs, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.