TORONTO, June 28, 2021 (GLOBE NEWSWIRE) — Quisitive Know-how Options Inc. (“Quisitive” or “the Firm”) (TSXV: QUIS), a Microsoft Cloud Providers and Cost Options Supplier, has introduced that it has efficiently executed its beforehand introduced letter of intent (“LOI”) with The Bancorp Financial institution, the wholly-owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK) to behave as a sponsor for direct cost processing for Visa™, Mastercard™, and different main credit score and debit card manufacturers.
With over $6.2 billion in belongings and over 600 staff across the nation, The Bancorp is a Delaware-based financial institution that providers the distinctive wants of non-bank monetary service corporations, starting from entrepreneurial start-ups to Fortune 500 corporations. The Bancorp and its subsidiary, The Bancorp Financial institution (Member FDIC, Equal Housing Lender), has been repeatedly acknowledged by the Nilson Report because the Prime Issuer of Pay as you go Playing cards (US), a high service provider sponsor financial institution, and a high ACH originator. The Bancorp works with a few of the most forward-thinking upstarts in monetary providers by offering consultancy, monetary providers, and expertise that allow its purchasers to deliver their enterprise imaginative and prescient to fruition.
Sponsor banks are members of credit score and debit card associations that create the required hyperlinks between cost processors, retailers, and credit score and debit card corporations to allow cost processing. Financial institution sponsorship is a vital partnership for any cost processor and represents a big milestone on the pathway to the complete commercialization of LedgerPay, a Quisitive product. Moreover, the method of achieving financial institution sponsorship consists of intensive due diligence that has licensed Quisitive’s monetary standing, enterprise technique, background checks, and extra to make sure that Quisitive Cost Options is a good cost processor. The achievement of financial institution sponsorship validates the Firm’s preparedness because it approaches the final availability of LedgerPay.
“Efficiently receiving financial institution sponsorship from a well-respected and highly-accredited group resembling The Bancorp, is a fully important part that gives LedgerPay with direct cost processing capabilities with the main credit score and debit card manufacturers,” stated Quisitive CEO Mike Reinhart. “The Bancorp brings to the desk a staff of seasoned monetary specialists which have a plethora of expertise inside the funds sector. Quisitive’s current acquisition of BankCard USA, onboarding of funds trade leaders to the staff, improvement of a complete threat administration program, achievement of Microsoft Co-sell Prepared standing, and now execution of the financial institution sponsorship demonstrates important progress towards full commercialization of the LedgerPay resolution.”
“The Bancorp is happy to announce our sponsorship of Quisitive LedgerPay as a direct service provider buying accomplice. Our help of this main milestone on LedgerPay’s journey, demonstrates The Bancorp’s confidence of their expertise, threat administration, safety methods, and their management staff. We stay up for a sturdy partnership between The Bancorp and Quisitive and the constructive impression that the LedgerPay resolution may have available on the market and our clients,” stated Matt Carberry, Managing Director, Head of Associate Technique at The Bancorp.
LedgerPay, a Quisitive product, is a cost processing and Funds Intelligence™ resolution that captures and analyzes wealthy information from each card-based transaction in each channel. It transforms funds information into buyer engagement by empowering a service provider’s potential to ship customized promotions based mostly on a person’s historic shopping for behaviors and class preferences to consumers on the level of buy in real-time whereas they’re nonetheless within the retailer or restaurant. Quisitive leveraged their alliance with Microsoft to develop LedgerPay on the Microsoft Azure platform, creating the primary of its type, cloud-based funds resolution. Constructing a stable basis on high of Azure DevOps and using Azure providers resembling Azure Kubernetes Providers, CosmosDB, and ExpressRoute, amongst others, permits LedgerPay to essentially rework cost transactions right into a beneficial buyer engagement device, providing customized promotions with 100% of non-cash service provider clients even when they don’t seem to be enrolled in a loyalty program.
“LedgerPay is a case research of how the facility of Microsoft Azure, along with the collective monetary providers and funds experience of the Microsoft and Quisitive groups, can ship revolutionary options to brick-and-mortar and omnichannel retailers,” stated Peter Hazou, Microsoft’s Worldwide Director, Enterprise Growth, Monetary Providers. “The progress of LedgerPay in the direction of full commercialization is thrilling as a result of it’s an software of Azure expertise that provides each brick-and-mortar and e-commerce retailers a brand new aggressive benefit that’s not like something beforehand seen within the funds area.”
Quisitive (TSXV: QUIS) is a premier, world Microsoft accomplice that harnesses the Microsoft platform and complementary applied sciences, together with customized options and first-party choices, to generate transformational impression for enterprise clients. Our Cloud Options enterprise focuses on serving to enterprises transfer, function, and innovate within the three Microsoft clouds. Centering on our LedgerPay product suite, our Funds Options enterprise leverages the Microsoft Azure cloud to rework the cost processing trade into a completely new supply of buyer engagement and shopper worth. Quisitive serves purchasers globally from ten worker hubs the world over. For extra data, go to www.quisitive.com and comply with @BeQuisitive.
About The Bancorp:
The Bancorp, Inc. (NASDAQ: TBBK) is devoted to serving the distinctive wants of non-bank monetary service corporations, starting from entrepreneurial start-ups to these on the Fortune 500. The corporate’s subsidiary, The Bancorp Financial institution (Member FDIC, Equal Housing Lender), has been repeatedly acknowledged within the funds trade because the Prime Issuer of Pay as you go Playing cards (US), a high service provider sponsor financial institution and a high ACH originator. Specialised lending distinctions embrace SBA Nationwide Most popular Lender, a number one supplier of securities-backed traces of credit score, and one of many few bank-owned business car leasing teams within the nation. For extra data, please go to www.thebancorp.com.
Quisitive Investor Contact
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Ahead-Wanting Statements: Some statements on this information launch include forward-looking data. These statements embrace, however will not be restricted to, statements with respect to future progress methods and LedgerPay availability. These statements handle future occasions and situations and, as such, contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the statements. Such components embrace, amongst others the restricted historical past of operations, lack of profitability, availability of financing, the necessity for added financing and the timing and quantity of expenditures, data pertaining to technique, plans, or future monetary efficiency, resembling statements with respect to future revenues, EBITDA, money flows and different statements that specific administration’s expectations or estimates of future efficiency, the anticipated timing of future money movement and constructive EBITDA, potential to efficiently execute on company methods, the failure to seek out economically viable acquisition targets, funding for internally developed expertise options, shopper retention and attrition, shopper calls for, reliance on key personnel, financial spending within the IT trade and technological adjustments within the IT trade.
These forward-looking statements are based mostly on cheap assumptions and estimates of administration of the Firm on the time such statements had been made. Precise future outcomes could differ materially as forward-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the corporate to materially differ from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Such components, amongst different issues, embrace: adjustments in expertise, buyer markets and demand for the Firm’s providers; the efficacy of the Firm’s software program and product providing; gross sales and margin threat; acquisition and integration dangers; dependence on financial and market situations together with, however not restricted to, entry to fairness or debt capital on favorable phrases if required; adjustments in market dynamics together with enterprise relationships and competitors; data system dangers; dangers related to the introduction of recent merchandise; product design threat; dangers associated to the Firm being a holding firm; environmental dangers; buyer and vendor dangers; credit score dangers; tax and insurance coverage associated dangers; dangers of legislative adjustments; dangers regarding distant operations; key government threat; threat of litigation dangers; dangers associated to contracts with third get together service suppliers; dangers associated to the enforceability of contracts; dangers associated to common financial, market and enterprise situations, together with, however not restricted to, the continued impression of the COVID-19 pandemic; the restricted working historical past of the Firm; reliance on the experience and judgment of senior administration of the Firm; dangers associated to proprietary mental property and potential infringement by third events; dangers regarding financing actions together with leverage; dangers regarding the administration of progress; elevated prices related to the Firm turning into a publicly traded firm; growing competitors within the trade; dangers regarding vitality prices; reliance on key inputs, suppliers and expert labour; cyber-security dangers; dangers associated to quantifying the Firm’s goal market; dangers associated to trade progress and consolidation; fraudulent exercise by staff, contractors and consultants; conflicts of curiosity; dangers associated to the fee buildings of sure initiatives; dangers regarding sure cures being restricted and the issue of enforcement of judgments and impact service exterior of Canada; dangers associated to future inclinations; gross sales by present shareholders; the restricted marketplace for securities of the Firm; worth volatility of the widespread shares of the Firm; no assure relating to use of obtainable funds; foreign money fluctuations; and people components described below the heading “Dangers Components” within the firm’s annual data type dated Could 15, 2020 obtainable on SEDAR. Though the forward-looking statements contained on this information launch are based mostly upon what administration of the corporate believes, or believed on the time, to be cheap assumptions, the corporate can’t guarantee shareholders that precise outcomes shall be per such forward-looking statements, as there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. Accordingly, readers mustn’t place undue reliance on forward-looking statements and data. There may be no assurance that forward-looking data, or the fabric components or assumptions used to develop such forward-looking data, will show to be correct. The Firm doesn’t undertake any obligations to launch publicly any revisions for updating any voluntary forward-looking statements, besides as required by relevant securities regulation.