Benzinga | Sep 10, 2020 08:36AM EDT

Datasea Signs Six Service Agreements To Implement Its Smart Information Service System In Guangdong Province, China

NEW YORK, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ:DTSS) ("Datasea" or the "Company"),a technology company engaged in providing smart security solutions and developing education-related technologies in China, has entered into service agreements involving its Smart Information Service System (the "Smart System") with Shenzhen Linghang Haocheng Education Technology Co., an education training company, Shenzhen Weisou Technology Co., an application operator, and four gas stations in Shenzen and Shanwei, all located on the Guangdong province.



Datasea's Smart System is designed to service the needs of retail industry vendors and utilizes big data analytics and facial recognition technology. The system allows retailers to employ facial recognition technology to charge customers to be used at the point of sale. The Company will install hardware equipment for the clients, perform regular maintenance, and provide the Smart System in exchange for 0.38% of transaction value of each transaction utilizing the Company's technology. The term of each of the service agreement is one year.

"Our Smart Information Service System allows retailers to collect payments from customers without the need to physically interact," said Chairman and CEO, Ms. Liu Zhixin. "Our R&D team has leveraged our existing intellectual property of big data analytics to diversify our product offerings to cater to the needs of retailers. We are certainly encouraged by these agreements in the Guangdong province."