TORONTO, Jan. 13, 2021 /CNW/ -- Quisitive Technology
Solutions Inc. ("Quisitive" or the "Company") (TSXV: QUIS), a
premier Microsoft Solutions Provider, is pleased to announce that
its LedgerPay unit has entered into a letter of intent ("LOI") with
a major merchant acquiring bank as a sponsor for direct payment
processing for Visa, Mastercard, and other major credit and debit
card brands.
As the only payment processing platform solution that leverages
the Microsoft Azure cloud, Quisitive's LedgerPay solution lets
merchants securely process payments online and in-stores and
provides unique insights into consumer behavior for
brick-and-mortar retailers. The technology behind LedgerPay was
developed internally by the Company and incorporates data
collection and analysis with each payment transaction, ultimately
enabling retailers to drive revenue while creating personalized
loyalty at scale.
To enable the full payment processing capabilities of
Quisitive's LedgerPay platform, the Company required a bank
sponsorship, a pre-requisite for connecting its solution to major
payment card networks such as Visa and Mastercard. Upon
finalizing the definitive agreement, targeted for mid-February,
Quisitive expects LedgerPay to jointly go-to-market, through a
partnership model, with its sponsor bank to independent sales
organizations ("ISOs"), or companies that sell credit card
processing services independently from a financial firm or bank.
Furthermore, the sponsor bank will be able to provide LedgerPay
with incremental merchant customers through its already existing
ISO relationships.
"Receiving a bank sponsorship is one of the key final steps
needed in order to achieve the general availability of LedgerPay,"
said Quisitive CEO Mike Reinhart.
"We look forward to completing the definitive agreement for this
partnership and intend to find many collaborative ways to reach a
broad set of merchants across the United
States, including through our partnerships with Microsoft
and dunnhumby."
About Quisitive:
Quisitive (TSXV: QUIS) is a premier Microsoft solutions provider
that helps enterprises move, operate, and innovate in the Microsoft
cloud: Microsoft Azure, Microsoft Dynamics, and Microsoft 365.
Quisitive also provides proprietary SaaS solutions such as
emPerformTM and LedgerPay that complement the Microsoft
platform. LedgerPay is an innovative payments intelligence platform
and data insights solution that transforms everyday debit or credit
purchase transaction data into seamless customer loyalty for
merchants. Quisitive serves clients globally from offices in
the U.S and Canada. For more
information, visit www.Quisitive.com and follow
@BeQuisitive.
Cautionary Note Regarding Forward Looking Information
Some statements in this news release contain forward-looking
information. These statements include, but are not limited to,
statements with respect to proposed activities and strategy. These
statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such factors
include, among others, the ability to enter into a definitive
agreement on the terms of the LOI or at all, the anticipated timing
of a definitive agreement, additional steps needed to achieve the
general marketability of LedgerPay, the ability to successfully
execute on the Company's corporate strategies, the limited history
of operations of the Company's LedgerPay business and future
business strategy, and other events or conditions that may occur in
the future.
These forward-looking statements are based on reasonable
assumptions and estimates of management of the Company at the time
such statements were made. Actual future results may differ
materially as forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the company to materially
differ from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors, among other things, include those factors described under
the heading "Risks Factors" in the Company's annual information
form dated May 15, 2020 available on
SEDAR. Although the forward-looking statements contained in this
news release are based upon what management of the Company
believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure shareholders that actual results will be
consistent with such forward-looking statements, as there may be
other factors that cause results not to be as anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements and information. There can
be no assurance that forward-looking information, or the material
factors or assumptions used to develop such forward-looking
information, will prove to be accurate. The Company does not
undertake any obligations to release publicly any revisions for
updating any voluntary forward-looking statements, except as
required by applicable securities law.
Neither 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.
SOURCE Quisitive Technology Solutions Inc.