AppTech Payments Provides Shareholder Update Highlighting Recent Strategic Partnership and Growth Milestones

Rhea-AI Summary

AppTech Payments Corp. (Nasdaq: APCX) has announced significant growth milestones, including a new strategic partnership that will expand its white-label ACH platform to 40,000 clients. The company's automated underwriting system will facilitate rapid onboarding. AppTech's recent achievements include:

• Success of the BaaS pilot program, introducing virtual accounts and advanced features
• Development of InstaCash platform for real-time transactions and financial literacy
• Continued roll-out of FinZeo platform to credit unions nationwide
• Adoption of FinZeo by airports, with plans to expand to 40 locations in 2024

These initiatives aim to drive growth, enhance financial capabilities, and position AppTech for long-term shareholder value.

Positive

• Strategic partnership expanding ACH platform to 40,000 new clients
• Successful BaaS pilot program with virtual accounts and advanced features
• Development of InstaCash platform for real-time transactions
• FinZeo platform gaining traction with credit unions
• Adoption of FinZeo by airports with plans to expand to 40 locations in 2024

Negative

• None.

Insights

Financial Analyst

AppTech's strategic partnership with a 40,000-client portfolio holder marks a significant expansion opportunity. The automated underwriting system for seamless onboarding is a key differentiator, potentially accelerating revenue growth. However, the lack of specific financial projections or current revenue figures makes it challenging to quantify the impact.

The success of the BaaS pilot program and the anticipated adoption by over 200 new Independent Sales Organizations suggest a strong growth trajectory. The InstaCash platform and FinZeo rollout, particularly in airports, indicate diversification of revenue streams. While these developments are promising, investors should remain cautious without concrete financial metrics to support the growth narrative.

Fintech Expert

AppTech's white-label ACH platform and automated underwriting system address critical pain points in financial operations, potentially disrupting traditional banking processes. The BaaS pilot's success, featuring virtual accounts and SMS invoicing, aligns with the industry trend towards frictionless banking.

The InstaCash platform's real-time transaction system could be a game-changer for smaller financial institutions, leveling the playing field against larger banks. However, the competitive landscape in Fintech is fierce and AppTech will need to maintain a rapid pace of innovation to stay ahead. The integration of financial literacy courses is a smart move, potentially increasing user engagement and loyalty.

Market Research Analyst

The partnership targeting 40,000 clients signifies a substantial market penetration opportunity for AppTech. The company's focus on empowering smaller banks and credit unions taps into a growing demand for advanced Fintech solutions in this underserved segment.

The planned rollout to approximately forty airports in 2024 represents a strategic entry into a high-traffic, high-transaction volume sector. This move could provide steady revenue streams and increase brand visibility. However, the success of these initiatives will depend on execution and adoption rates. Investors should monitor key performance indicators in the coming quarters to assess the actual impact on AppTech's market position and financial performance.

Partnership to drive expansion of AppTech's fully customizable white-label ACH platform to a portfolio of 40,000 clients

CARLSBAD, Calif., Sept. 18, 2024 (GLOBE NEWSWIRE) -- AppTech Payments Corp. (Nasdaq: APCX) (“AppTech” or the “Company”), a pioneering Fintech company powering frictionless commerce, provides a shareholder update on recent growth milestones, highlighted by the onboarding of a significant new strategic partner with an extensive portfolio of 40,000 clients.

AppTech CEO Luke D’Angelo commented, “We are gratified to continue executing on our robust growth strategy as our newest partner begins to integrate AppTech's fully customizable and white-labeled ACH platform into their financial operations. We look forward to continuing to expand the footprint of our entire suite of patented technology capabilities, leveraging our expansive partner network and differentiated solutions as we position the Company for long-term shareholder value.”

The onboarding process will be expedited by the Company’s groundbreaking automated underwriting system, which enables the seamless onboarding of a multitude of accounts without the cumbersome, outdated manual processes typically required by other platforms. Upon completion, AppTech will significantly broaden the reach for its services and enhance the financial capabilities available to the partner’s extensive client base.

Additional Recent Growth Milestones:

1. BaaS Pilot Program Success: AppTech CEO Luke D’Angelo recently highlighted the success of the BaaS pilot program, which has achieved a key milestone in democratizing banking. The program introduced virtual accounts, commercial purchase debit cards, and advanced features such as SMS invoicing for B2B transactions. This initiative aims to reduce friction in payments and foster a Real Time Payment network, setting the stage for the anticipated adoption by over 200 new Independent Sales Organizations. This advancement is positioned to drive growth for legacy banks and credit unions throughout the United States, ultimately allowing them to compete with the large banks and drive value back to the consumer.
2. InstaCash and Financial Inclusion: AppTech's InstaCash platform is positioned to transform specialty payments by offering a real-time, seamless transaction system. It empowers banks and credit unions of all sizes to provide instant transactions, leveling the playing field in the Fintech space. The platform is also set to enhance financial literacy through integrated online courses, expanding its impact beyond mere transactions to social empowerment.
3. FinZeo Platform Roll-Out: The FinZeo platform continues to gain traction, with expectations to be available to credit unions nationwide. This innovative solution provides a competitive edge to legacy banks by delivering advanced tech services for mobile payments, ACH, and credit card processing. AppTech anticipates significant uptake as credit unions transition from legacy systems to Fintech solutions.
4. Airport Adoption of FinZeo: This milestone represents the beginning of a broader rollout expected to include approximately forty domestic and international airports in 2024, setting the foundation for a profitable year ahead.

About AppTech Payments

AppTech Payments Corp. (NASDAQ: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through the Company’s scalable cloud-based platform architecture and infrastructure, coupled with our Specialty Payments development and delivery model. AppTech maintains exclusive licensing and partnership agreements in addition to a full suite of patented technology capabilities. For more information, please visit apptechcorp.com.

FORWARD-LOOKING STATEMENTS 

This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These risks and uncertainties include but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the Company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. AppTech is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact
CORE IR
Scott Arnold
scotta@coreir.com

AppTech Payments Corp.
760-707-5959
info@apptechcorp.com

FAQ

What is AppTech Payments Corp.'s new strategic partnership about?

AppTech Payments Corp. (APCX) has partnered with a company that has a portfolio of 40,000 clients, expanding the reach of AppTech's white-label ACH platform to these new potential customers.

How is AppTech (APCX) streamlining the onboarding process for new accounts?

AppTech is using its automated underwriting system to expedite the onboarding process, allowing for seamless integration of multiple accounts without manual processes typically required by other platforms.

What features does AppTech's (APCX) BaaS pilot program offer?

AppTech's BaaS pilot program offers virtual accounts, commercial purchase debit cards, and advanced features like SMS invoicing for B2B transactions, aiming to reduce friction in payments and foster a Real Time Payment network.

How many airports are expected to adopt AppTech's (APCX) FinZeo platform in 2024?

AppTech anticipates that approximately forty domestic and international airports will adopt the FinZeo platform in 2024.