TORONTO, March 30, 2022 (GLOBE NEWSWIRE) — Quisitive Technology Solutions, Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX:QUISF), a premier Microsoft solutions and payment solutions provider, today announced that it has officially received Mastercard certification to process credit and debit payments through its LedgerPay platform.
Quisitive has successfully completed the certification process for its LedgerPay direct payment processing platform on the Mastercard network. After finalizing the configuration and installation of Mastercard’s hardware in mid-February and conducting joint certification tests, Quisitive is now fully approved to process transactions through Mastercard.
Following the successful closing of the Company’s United States bank sponsorship with The Bancorp, and the recent Canadian bank sponsorship with Peoples Trust Company, the completion of this Mastercard certification milestone enables the company to begin onboarding merchants to LedgerPay. Quisitive expects to onboard an initial set of pilot merchants from Independent Sales Organizations (ISOs) and Independent Software Vendors (ISVs), including its own BankCard USA merchant portfolio, as well as merchants from Paytron, and DigiPro Payments. In parallel, the Company will continue the process of completing additional certifications with Visa, American Express, and Discover.
Quisitive is expecting to accelerate its go-to-market strategy once the pilot phase is completed, currently expected in Q3 of this year. This includes multichannel marketing and sales to ISOs and ISVs and direct sales to merchants. With the support of the Microsoft sales channel, Quisitive sales teams will begin promoting its payments solutions to ISVs leveraging Azure’s cloud capabilities, as well as targeting large US merchants that would benefit from its innovative Payments Intelligence® solution. This will be followed by an expansion into the Canadian market.
“We are extremely proud of the progress we have made from the launch of LedgerPay to this successful certification milestone by Mastercard,” said Quisitive CEO Mike Reinhart. “Our LedgerPay team has done an incredible job achieving this milestone and I am very thankful for their dedication and commitment. Between the capabilities of our direct sales team, the initial onboarding of BankCard USA’s merchant customers, and our partnership with Microsoft, LedgerPay is primed for success.”
Quisitive (TSXV: QUIS, OTCQX: QUISF) 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 fifteen employee hubs across the world. For more information, visit www.Quisitive.com and follow @BeQuisitive.
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Cautionary Note Regarding Forward Looking Information
This news release contains certain “forward‐looking information” and “forward‐looking statements” (collectively, “forward‐ looking statements”) within the meaning of applicable Canadian securities legislation regarding Quisitive and its business. 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 statements. Forward‐ looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. These forward-looking statements include, but are not limited to, statements relating to: onboarding of pilot merchants, completion of additional certifications, expectations regarding go-to-market strategy and future success of the Company’s LedgerPay platform, growth prospects, projected milestones and timelines, and other anticipated benefits and impacts of the Mastercard certification.
The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading “Risks Factors” in the Company’s annual information form dated August 20, 2021, which are available under the Company’s issuer profile on SEDAR at www.sedar.com. 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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