Emerging Markets Report: A Marriage Made in Manama
On March 8, 2021, AppTech Corp. (OTC: APCX) completed a significant agreement with NEC Payments B.S.C(c), enhancing its digital banking and payment technology offerings. This partnership allows AppTech to provide versatile and secure payment processing solutions, effectively digitizing business transactions. The collaboration includes licensing AppTech's intellectual property to NECP and aims to develop a disruptive text payment solution. Notably, NECP will become AppTech's largest shareholder, strengthening their position in the fintech sector.
- Completion of key partnership with NEC Payments, enhancing technology solutions.
- NECP's role as largest shareholder strengthens AppTech's market presence.
- Potential for disruptive text payment solution could attract new customers.
- Collaboration expected to create new revenue streams through digital banking.
- None.
An Emerging Markets Sponsored Commentary
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. Click here to read “A Bright Future for Fintech and FinTEXT”
AppTech Corp. (OTC: APCX) 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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FAQ
What is the recent partnership announced by AppTech Corp. (APCX)?
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