RAYL Innovations Extends SuperApp Offering With Commercial Launch of RAYL.ApptivePro

VANCOUVER, British Columbia, Feb. 01, 2022 (GLOBE NEWSWIRE) — RAYL Innovations Inc. (“RAYL” or the “Company“), is pleased to announce that pursuant to the news release dated May 04, 2021, the Company has received overwhelming validation of the RAYL.Apptive SuperApp, with continued customer growth and attrition near zero. Following extensive customer feedback, there was significant interest to integrate additional productivity tools enabling the small business or micro merchant to further integrate their activities onto a single interoperable platform.

As a result, the Company has developed and launched an offering upgrade that focuses on driving incremental customer sales and marketing called RAYL.ApptivePro. 

RAYL.ApptivePro contains six new applications over and above the 14 modules currently being used by customers with RAYL.Apptive, priced at $59.95/month, or a $40.00 premium to RAYL.Apptive. The RAYL.ApptivePro applications are: 

The Company’s cloud-based SAAS SupperApp offering now provides complete functionality for a small business or micro merchant to perform most administrative, finance, commercial and productivity tasks. The SuperApp allows customers to manage all facets of their day-to-day operations including inventory, dynamic online merchandise management, offering seamless integration to Amazon.com via the “connector” tool.

During customer testing, the Company demonstrated that interoperability and single sign-on provided users with increased time efficiency and reduced transactional friction compared to competing offerings requiring multiple sign-in and stand-alone back-end data sets. As a SAAS platform, early subscription data has shown that 75% of customers are opting for the $59.95 RAYL.ApptivePro upgrade, where the Company estimates potential savings in excess of $2,000 per annum by supplanting stand-alone traditional subscriptions. 

Nicholas Jeffery, the Company’s CEO, said, “RAYL.ApptivePro is a significant upgrade to the SuperApp, and for existing RAYL.Apptive subscribers, they can seamlessly upgrade for a nominal $40.00 / month. The modules are world-class, and the video conference application has no restrictions or tricky sign-in steps when compared to competing products. I love how the data moves around from module-to-module without cutting and pasting or re-entry. It saves a massive amount of time and frustration.”

Additionally, RAYL.ApptivePro subscribers will also receive a membership to the RAYL Community, a collection of e-commerce marketplaces, directories, and news sites, where companies can discuss, share ideas and promote their products to the Global RAYL community.

About RAYL Innovations Inc.

RAYL Innovations Inc. (“RAYL”) is a Vancouver-based Vancouver-based FinTech company founded in 2020. RAYL offers application solutions for SME business owners and merchants through RAYL.Apptive and RAYL.ApptivePro; and will be positioned in the near term to provide integrated payment processing and other digital financial solutions. RAYL offers tremendous value to businesses by integrating critical business solutions, financial services, and data analytics with a unique pricing strategy all-in-one integrated and interoperable platform.

For further information on the Company, RAYL.Apptive and ApptivePro, RAYL.Pay, and RAYL.Financial, please visit our website at www.rayl.com. 

ON BEHALF OF THE BOARD
“Nicholas Jeffery”
Director, President & CEO

For Further Information Contact:
Jeremy Wright, CPA, CMA, Director (604)837-7990
[email protected] 

Unless otherwise denoted, all currencies in Canadian Dollars.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect“, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements.

This news release may contain forward-looking statements and information concerning RAYL Innovations Inc. (“the Company”); and includes its wholly owned subsidiaries; RAYL Business Solutions Inc., and Post Socratic Ventures Inc.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the success of new product development, the Company’s ability to integrate acquired businesses and complete strategic acquisitions of additional business and other factors that affect demand for the Company’s products.

Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Company’s actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to expenditures and other factors that affect demand for the Company’s products, industry competition, the need to effectively integrate acquired businesses, uncertainties as to the Company’s ability to implement its business strategy effectively in Canada and the United States, labor, equipment and material costs, access to capital markets, interest and currency exchange rates, technological developments, political and economic conditions and the Company’s ability to attract and retain key personnel.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether, as a result of new information, future events or otherwise, except as required by law.