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TORONTO, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions Inc. (“Quisitive” or “the Company”) (TSXV: QUIS), a premier Microsoft Cloud Services and Payment Solutions Provider, has announced that it has finalized a contract with Paytron Merchant Services (“Paytron”), a Passport Technology company, to provide payment processing services, making it among the first major secured LedgerPay contracts with an Independent Sales Organization (“ISO”) customer. ISOs resell payment services from payment processors, such as LedgerPay.
Paytron is a merchant services provider that enables payment processing for resort and casino merchants. The agreement between Paytron and Quisitive LedgerPay will provide Paytron the opportunity to employ LedgerPay’s advanced payment processing services to its customers. Compared to alternative processing partners, LedgerPay provides increased automation, enhanced efficiencies, and decreased overhead.
LedgerPay’s automated merchant onboarding, and automated residuals calculation and settlement features, are key for ISO customers. With LedgerPay, boarding and underwriting new merchant customers is seamless and automated. Additionally, the automation of agent residual computation and payment decreases overhead, improves the timeliness and accuracy of agent payments, and can enable higher retention of top agent talent. With legacy payment processors, the agent residuals payment process can take weeks of manual calculation, but with LedgerPay, residuals are computed automatically on a configurable timeline (daily, weekly, monthly). Paytron plans to employ these robust features designed for the modern ISO to optimize processing for their merchant customers.
Marc Ruben, VP of Payments Paytron Merchant Services, said, “We are thrilled to be partnering with LedgerPay for their payment processing services. The LedgerPay features for ISOs provide a brand-new level of automation that has the potential to radically improve the efficiency of our processing services. Paytron is proud to be utilizing this innovative technology to serve our customers with secure, robust, and efficient payment processing.”
“Our team is incredibly excited to announce this new ISO customer signing on with LedgerPay for payment processing services. As we move towards full commercialization, we have a strong pipeline of prospects that see the vision and value of the LedgerPay solution set. They’re ready to employ it to transform their businesses with enhanced efficiencies, reduced overhead, and optimized operations,” said Quisitive CEO Mike Reinhart. “The LedgerPay team continues to advance our vision on both the engineering and sales fronts to reach commercialization and a strong public launch for this world-class solution.”
Paytron is a leading provider of merchant services, including credit and debit card processing, secure gateway processing, point-of-sale hardware, card terminals, and business loans for retail, enterprise, casino, and high-risk industries. Paytron's team of industry experts deliver cost-effective payment solutions tailored to fit customer needs in a streamlined and expedited fashion. Additionally, as a ‘Passport Technology’ company, Paytron offers merchant services to resort and casino markets enabling a holistic approach to financial needs by a singular provider. Paytron continues to be a fundamental contributor to the design of smart payment solutions, combining years of expertise in merchant services with Passport’s award-winning technological and deployment experience.
For more information, visit paytron.com
Quisitive (TSXV: QUIS) is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies, including custom solutions and first-party offerings, to generate transformational impact for enterprise customers. Our Cloud Solutions business focuses on helping enterprises move, operate, and innovate in the three Microsoft clouds. Centering on our LedgerPay product suite, our Payments Solutions business leverages the Microsoft Azure cloud to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from eleven employee hubs across the world. For more information, visit www.quisitive.com and follow @BeQuisitive. For more information on LedgerPay, visit www.LedgerPay.com
Quisitive Company Contact
Tami Anders, Chief of Staff
Quisitive Investor Contact
Matt Glover and John Yi
Gateway Investor Relations
Cautionary Note Regarding Forward Looking Information
Forward-Looking Statements: Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to proposed activities, consolidation strategy and future expenditures. 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, statements with respect to the anticipated benefits of the arrangement between the Company and Paytron; the ability of the LedgerPay platform to provide increased automation, enhanced efficiencies, and decreased overhead for customers; the full commercialization of the LedgerPay platform; and the adoption of the LedgerPay platform by other entities.
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: features of LedgerPay achieving its intended designs when implemented; changes in technology, customer markets and demand for the Company’s services; the efficacy of the Company’s software and product offering; sales and margin risk; acquisition and integration risks; dependence on economic and market conditions including, but not limited to, access to equity or debt capital on favorable terms if required; changes in market dynamics including business relationships and competition; information system risks; risks associated with the introduction of new products; product design risk; risks related to the Company being a holding company; environmental risks; customer and vendor risks; credit risks; tax and insurance related risks; risks of legislative changes; risks relating to remote operations; key executive risk; risk of litigation risks; risks related to contracts with third party service providers; risks related to the enforceability of contracts; risks related to general economic, market and business conditions, including, but not limited to, the ongoing impact of the COVID-19 pandemic; the limited operating history of the Company; reliance on the expertise and judgment of senior management of the Company; risks related to proprietary intellectual property and potential infringement by third parties; risks relating to financing activities including leverage; risks relating to the management of growth; increased costs associated with the Company becoming a publicly traded company; increasing competition in the industry; risks relating to energy costs; reliance on key inputs, suppliers and skilled labour; cyber-security risks; risks related to quantifying the Company’s target market; risks related to industry growth and consolidation; fraudulent activity by employees, contractors and consultants; conflicts of interest; risks related to the cost structures of certain projects; risks relating to certain remedies being limited and the difficulty of enforcement of judgments and effect service outside of Canada; risks related to future dispositions; sales by existing shareholders; the limited market for securities of the Company; price volatility of the common shares of the Company; no guarantee regarding use of available funds; currency fluctuations; and those factors described under the heading "Risks Factors" in the company's annual information form dated August 20, 2021 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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