Security solutions provider Guardforce AI Co Ltd (NASDAQ:GFAI) said its subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited, has secured a three-year contract with a Japanese retailer for its end-to-end cash management solutions. The financial terms were not disclosed.

The end-to-end cash management solution in the contract renewal includes Guardforce Digital Machine (GDM), Cash-in-Transit, Cash Processing Centre, and Change Fund services across four locations in Bangkok, Thailand.

GDM enhances the client's safety through a security system that protects against potential fraud or theft.

"We're the only company in Thailand that provides complete end-to-end cash management solutions, and this contract further strengthens our footprint in Thailand," said Chief Operating Officer Kee Yun Kwan.

Guardforce specializes in secured logistics, Artificial Intelligence (AI) and Robot-as-a-Service (RaaS).

Price Action: GFAI shares are trading lower by 0.24% at $4.18 on the last check Tuesday.