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AppTech Extends Payment Capabilities Across Border

FINTECH: Move Part of ‘Launch’ Year With Public Offering, Acquisition

AppTech Payments Corp. is stretching its reach into international markets.

Last month, the Carlsbad-based fintech announced its payments processing platform will now enable transactions across international borders in a multitude of different retail outlets in Canada, including in-person retail, ecommerce, transportation, lodging, hospitality, automotive and restaurants.

Virgil Llapitan
President
AppTech Payments Corp.

“We are thrilled to expand cross-border payment capabilities in Canada, setting the stage for future reach and access to AppTech’s transformative payment solutions,” said Virgil Llapitan, president of AppTech Payments Corp, adding that the new capabilities “creates the foundation for enabling a full range of stellar commerce experiences for both brands and customers across borders.”

The advanced payments processing capabilities will support fully integrated Clover products, next-day settlement, support for multiple pricing strategies, cross-border remittance, omnichannel capabilities, PCI compliance and acceptance across multiple credit and debit cards, including MasterCard, Visa, American Express, Discover, JCB, China Union Pay and Interac Debit Cards.

AppTech Chief Technology Officer Ben Jenkins said creating cross-border payment technology is challenging due to the different regulatory environments in other countries. Most fintech platform companies, he said, utilize third parties to facilitate payments.

Ben Jenkins
Chief Technical Officer
AppTech Payments Corp.

“There’s a lot of gap in the industry around embedded fintech, embedded banking, things of that nature and when you look at that ecosystem and extrapolate that out beyond the United States for instance, it’s a global play – money is global and that becomes even more challenging,” he said. “The value of what AppTech is able to do as we move forward is it’s an entire fintech stack from the pay-in side and the pay-out side. There’s a lot of those in the industry that have pieces or parts of that and there’s very few that can work across both sides of the fence.”

AppTech’s expansion into Canada follows an expansion of the company’s technologies. In late May, AppTech acquired Hothand, Inc., adding a portfolio of IP patents around geofence-triggered advertising and ecommerce.

In combination with AppTech’s patents and platform, the Hothand patents allow integration and a consistent buyer experience in all channels of commerce.

Luke D’Angelo
CEO
AppTech Payments Corp.

“Our combined 16 patents encompass services from the taking of payments through digital banking services,” said Luke D’Angelo, CEO of AppTech. “Ultimately, we are creating a barrier to competitors, which will be difficult to breach without licensing our technology or paying a royalty to AppTech for online transactions and/or geofence triggered advertising. Our strong patent portfolio will be critical as we continue to roll-out our fintech platform world-wide and explore out-licensing agreements with various companies.”

In addition to acquiring new IP and expanding capabilities, AppTech has also been expanding its leadership team.

Last month the company announced it had added Amanda Glosson to the position of software engineer. Glosson joined AppTech with 14 years of payments engineering experience at Blackbaud. In her new role, she responsible for developing the AppTech’s core payments and digital banking solutions to enable omni-channel commerce experiences for customers.

AppTech also diversified its front office with Kaylei Wright, who was promoted to chief of staff. Wright started as an intern in the investor relations group and eventually led the communications team. In her new role as chief of staff she will work alongside the organizational leadership to shape strategic direction and define messaging for both investors and the general market alike.

“We are incredibly excited to boost our leadership team with the extensive experience and knowledgebase of both Amanda and Kaylei,” D’Angelo said. “These impressive women not only bring diverse backgrounds to the organization but also fresh perspectives to help shape strategy and achieve the organization’s goal of powering seamless omni-channel experiences for clients and their customers.”

The Hothand acquisition and the cross-border expansion top off a busy first half of 2022 for AppTech, which started the year with up listing to the NASDAQ.

“Our strong balance sheet will allow us to properly execute our plans to become a premier fintech platform that powers commerce experiences for our backlog of clients and their customers,” D’Angelo said, adding “2121 was a transformational year” for AppTech that paved the way for the company’s “highly anticipated launch in 2022.”

 

AppTech Payments Corp.
Founded: 1998
CEO: Luke D’Angelo
Headquarters: Carlsbad
Stock: APCX (NASDAQ)
Revenue: $353,824 (FY 2021)
Business: Digital payments and banking platform
Employees: 32
Website: www.apptechcorp.com
Notable: AppTech’s platform includes a proprietary technology that allows payments by text message.

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