LedgerPay Announces Strategic Partnership Agreement with Rev19
Transforms payment technology landscape with previously unavailable customer purchase data to build greater merchant loyalty
Toronto, Ontario - TheNewswire - March 26, 2020 - LedgerPay, a Quisitive Technology Solutions, Inc. ("Quisitive" or the "Company") Product Company (TSXV:QUIS) (OTC:QUISF) and modern payment processing platform, today announced a strategic partnership and software licensing agreement (the "Agreement") with Rev19, a merchant services and financial technology company. Terms of the Agreement include a software license as well as annual license support and maintenance, and annual production support services.
Under the terms of the Agreement, Rev19 is licensing LedgerPay's payment processing and payment tokenization platform, leveraging the latest technology to provide added value and insights to its merchant base. The capabilities provided by LedgerPay's product suite empower Rev19's merchants to enjoy best-in-class performance with better control of their financial cost structure due to its cloud-enabled architecture.
LedgerPay empowers Rev19 to connect their merchants with consumer insights previously unavailable, offering merchants the ability to provide customers with improved experiences in stores and restaurants.
"In a highly tumultuous retail and services climate, brick-and-mortar merchants are clamoring for the ability to provide highly reliable and cost-effective payment processing offerings to establish and grow loyalty with their customers," said Scotty Perkins, SVP of Product Innovation. "This partnership puts the infrastructure in place for Rev19 to fill that need by processing all the key types of electronic payments directly to the card associations at any scale."
"Our mission at Rev19 is to transform the payments industry into a transparent, service-centric space that advances the growth of individual businesses," said Corey Young, CEO and Managing Partner, Rev19. "By partnering with LedgerPay, we are now at the cutting edge of innovation, leveraging their technology to accelerate that mission by not only giving customers better control of cost, but providing industry-unique, enriched value-added data services."
"LedgerPay and Rev19 share similar missions--to transform the payments environment to benefit brick and mortar merchants and their customers," said Quisitive CEO, Mike Reinhart. "This Agreement is pivotal for not only activating, but accelerating, that mission. The capabilities LedgerPay brings forth to Rev19 puts them at the cutting edge of innovation, bringing new efficiencies and value to their customer base. The commercial value of this Agreement provides return on our initial product development investment, is expected to contribute to the profit of the Company and meaningful continued investment in LedgerPay product development."
Rev19 is an established, rapidly growing merchant services and financial technology company based in Southlake, TX. Put simply, Rev19's goal is to provide the very best experience, customer service, and payment solutions for their merchants. Rev19 is out to change the game in the payments industry, and it all starts with having a committed, customer-focused support team, which is the backbone of the company. To learn more about Rev19 and their services, visit https://rev19.net.
As a modern, direct payment processing platform, LedgerPay is transforming payment transactions into beneficial, profitable, and actionable experiences for both brick and mortar merchants and customers through their cloud-enabled payments and data analytics solutions. LedgerPay is a Quisitive (TSXV: QUIS) product company. To learn more about LedgerPay, visit https://www.quisitive.com/ledgerpay/
Quisitive is a premier Microsoft solutions provider that helps enterprise organizations move, operate and innovate in the Microsoft cloud: Microsoft Azure, Microsoft Dynamics and Microsoft O365. Quisitive also provides proprietary Software as a Service ("SaaS") solutions such as CRG emPerform(TM) and LedgerPay that complement the Microsoft platform. Quisitive serves clients globally with offices in Austin, TX; Dallas, TX; Denver, CO; Minneapolis, MN; Silicon Valley, CA; Washington, DC; Ottawa, ON; Toronto, ON and Hyderabad, India. For more information, visit http://www.Quisitive.com and follow @BeQuisitive. TSXV: QUIS.
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Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Generally, any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information or statements. The forward-looking information or statements in this news release may relate, among other things, to: the anticipated benefits of the arrangement between Rev19 and Quisitive; the expected results of LedgerPay's technology; the ability of Quisitive to successfully implement its service offerings to Rev19; the future growth potential of Quisitive; and future financial performance.
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: the expected results from the arrangement with Rev19 ; fluctuations in general macroeconomic conditions; fluctuations in securities markets; the Company's limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the technology industry; unproven markets for the Company's product offerings; lack of regulation and customer protection; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; network security risks; the ability of the Company to maintain properly working systems; foreign currency trading risks; use and storage of personal information and compliance with privacy laws; use of the Company's services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; changes in project parameters as plans continue to be evaluated; and those factors described under the heading "Risks Factors" in the Company's most recent management discussion & analysis dated September 30, 2019 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.
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