Emerging Markets Report: A Marriage Made in Manama
ORLANDO, Fla., March 23, 2021 (GLOBE NEWSWIRE) -- As rabid fans of the fintech space we are pleased to continue to report on AppTech Corp. (OTC: APCX), 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.
That’s the description from the Company and plainly spoken, AppTech is innovating within Fintech with novel product offerings including a text payment app we reported on previously.
AppTech Corp. () and NEC Payments B.S.C(c) announced on March 08, 2021, the financial closure of the agreement entered into by the parties in October 2020. NECP is based in Manama, Kingdom of Bahrain.
The deal is an important catalyst for AppTech as 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.
In other words, a ton of new verticals just opened up.
It is interesting that there is a compelling quid pro quo as AppTech will license its own Intellectual Property to NECP. It is also important to mention that NECP will assist AppTech by providing best in class software to complete the development of its text payment solution.
Again, we believe the text payment solution has the potential to be highly market disruptive if deployed successfully. According to the release, “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.”
And perhaps the most intriguing part of this marriage is that NECP will become AppTech’s single largest shareholder. This means that a Company steeped in tech and extremely well-versed in AppTech’s own Intellectual Property decided to take an enormous position.
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EMC has been paid 250,000 Restricted shares and will be paid $95,000 dollars by Apptech Corp. for various marketing services including this report. EMC does not independently verify any of the content linked-to from this editorial.
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