Monday, March 08, 2021 11:03:08 PM
Press Release | 03/08/2021
CARLSBAD, Calif. and MANAMA, Kingdom of Bahrain, March 08, 2021 (GLOBE NEWSWIRE) -- AppTech Corp. (“AppTech”) (OTC: APCX) and NEC Payments B.S.C(c) (“NECP”) today announce financial closure of the agreement entered into by the parties in October 2020.
Under the scope of the agreement, NECP will provide a digital banking and payment technology solution that will enable AppTech to extend its product offering to include flexible, scalable, and secure payment acceptance and issuer payment processing. Through the deployment of NECP’s technologies, AppTech will be empowered to drive the digitization of business and consumer payments flows and migrate cash, along with other legacy payment types to distanced, contactless card, and real-time payment transactions.
Additionally, NECP will assist AppTech by providing best in class software to complete the development of its text payment solution and, to do so, AppTech is licensing its patented intellectual property to NECP. In return, AppTech will receive licenses to utilize NECP’s digital banking platform, including exclusivity in the United States for its payment acceptance software.
The merging of AppTech’s merchant services and secure text payment solution with NECP’s digital account and multi-channel issuer payment processing capabilities will open up many value-added digital financial services opportunities including: end-to-end payment acceptance and digital banking for small to medium-sized enterprises; and the ability to embed B2B payments at multiple points in the supply chain to facilitate straight-through processing, eliminate manual administration, and automate financial control and reconciliation on behalf of customers.
As part of the agreement, NECP will become AppTech’s single largest shareholder, demonstrating the companies’ commitment to building mutual value through joint success under a partnership model.
Luke D’Angelo, CEO, AppTech, stated, “The closing of this agreement and our working partnership with NECP will enable AppTech to concentrate its resources on go-to-market and quickly achieve scale and profitability from the rapid adoption of the products that we will now deliver using these cutting-edge technologies.”
Andrew Sims, CEO, NEC Payments, said, “NEC Payments is delighted to have closed this important agreement and is looking forward to deploying our technologies in the US and working with AppTech as partners to develop the innovative products and services that will enable AppTech to realize its objectives and capture significant market share.” He continued “Our agreement with AppTech is the first closure under NECP’s new strategic initiative to invest in partnerships with customer organizations that create mutual value by using not only our technology assets but also our subject matter expertise and experience in the FinTech space.”
Complete terms of the strategic agreement are disclosed in AppTech’s related 8K SEC filing.
About AppTech (OTC: APCX)
AppTech Corp. is a financial technology company utilizing innovative payment processing technologies to complement its core merchant services capabilities. Its patented and proprietary software for merchant services, text marketing and lead generation are licensable or available through a suite of synergistic offerings. AppTech is developing an enterprise-grade text payment system using the simplicity and familiarity of text messaging with multi-factor authentication to ensure security. AppTech also offers digital marketing, software development, mobile app development, website development, website hosting & comprehensive payment processing for brick-and-mortar operations, e-commerce and ACH. For more information about our company, please visit: www.apptechcorp.com
About NEC Payments
NEC Payments B.S.C(c) is a digital banking and payment technology company based in the Kingdom of Bahrain and licensed and regulated by the Central Bank of Bahrain as an Ancillary Services Provider: Card Processor and Payment Services Provider. The company provides innovative financial technology solutions to power high-performance, flexible and secure payment processing, compliance, and financial control systems that may be securely deployed on the cloud, on-premises, and into hybrid environments to provide flexibility, scalability, redundancy, and to drive rapid growth. The company is a principal member of Mastercard and Visa and is compliant with multiple security and business process standards including PCI-DSS L1 v3.2.1, ISO27001 and ISO9001. It recently received the accolade of “Best Digital Banking Technology Innovator, Middle East 2021” from Capital Finance International.
Forward Looking Statements
This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “intend”, “may”, “plan”, “project”, “predict”, “should” and “‘will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These forward-looking statements involve risks and uncertainties concerning the Company. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Contacts:
AppTech Corp. Investor Relations
ir@apptechcorp.com
(760) 707-5955
James S. Painter III
Emerging Markets Consulting, LLC
jamespainter@emergingmarketsllc.com
(321) 206-6682
NEC Payments
Duaa Ammar, Digital Marketing Manager
duaa.ammar@necpayments.com
Recent APCX News
- AppTech Payments Provides Shareholder Update Highlighting Recent Strategic Partnership and Growth Milestones • GlobeNewswire Inc. • 09/18/2024 12:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/29/2024 12:00:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/26/2024 09:15:10 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/23/2024 04:15:06 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 08/22/2024 09:24:33 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 08/16/2024 09:15:40 PM
- AppTech Payments Reports Positive Second Quarter Financial Results and Strategic Progress • GlobeNewswire Inc. • 08/14/2024 04:35:44 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 11:00:25 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2024 09:15:14 PM
- AppTech Payments Announces Strategic Partnership with FISB Solutions to Upgrade Legacy Banking Systems • GlobeNewswire Inc. • 06/11/2024 11:15:00 AM
- AppTech Payments Announces Commercial Launch of its Banking-as-a-Service (BaaS) Platform Following Successful Pilot Program • GlobeNewswire Inc. • 05/16/2024 11:30:00 AM
- AppTech Payments Corp. Reports Strong Start to 2024 with Positive First Quarter Financial Results and Strategic Business Advances • GlobeNewswire Inc. • 05/15/2024 11:30:00 AM
- AppTech Payments Corp. to Present at Sidoti Virtual Investor Conference May 8-9 • GlobeNewswire Inc. • 05/02/2024 11:30:00 AM
- AppTech Payments Strategic Partner PayToMe.co Honored with Six American Business Awards® for AI and Technological Excellence • GlobeNewswire Inc. • 05/01/2024 11:30:00 AM
- AppTech Payments to Present at the Planet MicroCap Showcase: Vegas 2024 • GlobeNewswire Inc. • 04/24/2024 11:30:00 AM
- AppTech Payments Corp. Announces 2024 Annual Shareholder Meeting • GlobeNewswire Inc. • 04/12/2024 11:30:00 AM
- AppTech Payments Corp. Reports Fiscal Year 2023 Results • GlobeNewswire Inc. • 04/01/2024 08:15:00 PM
- AppTech Payments Corp. Announces Closing of $2.0 Million Underwritten Public Offering of Common Stock • GlobeNewswire Inc. • 03/27/2024 02:37:02 PM
- AppTech Payments Corp. Announces Pricing of $2.0 Million Underwritten Public Offering of Common Stock • GlobeNewswire Inc. • 03/26/2024 12:00:00 PM
- AppTech Payments Corp. Announces Proposed Underwritten Public Offering of Common Stock • GlobeNewswire Inc. • 03/25/2024 08:37:00 PM
- AppTech’s FinZeo™ Fintech Platform to Roll Out to Credit Union Network with Over 2,000 Locations • GlobeNewswire Inc. • 03/11/2024 11:30:00 AM
- AppTech’s Strategic Partner InstaCash on Track to Launch Cutting Edge Peer-to-Peer Mobile Payments Platform Q2 2024: User Sign-Ups Available Now • GlobeNewswire Inc. • 02/22/2024 12:30:00 PM
- AppTech Integrates Fintech Platform to Transform Traditional Banking and Payments Infrastructure Resulting in Cost Reduction, Secure Banking, and Instant Movement of Cash • GlobeNewswire Inc. • 02/08/2024 12:30:00 PM
- AppTech Drives Licensing Revenues as Patent Licensee PayToMe.co Elevates Financial Technology Landscape with Plaid Integration • GlobeNewswire Inc. • 02/01/2024 09:30:00 AM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM