Quisitive Receives Hardware Necessary for Payment Card Network Testing and Certification
TORONTO, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions, Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX: QUISF), a premier Microsoft solutions provider and payment solutions provider, has provided an update on key business milestones for 2022.
- Quisitive has received the necessary hardware and is in the final stages of testing with Mastercard and anticipates full certification within the next two months, which will enable Quisitive to accept payment from any major card brand. Visa certification is also underway and will follow in the coming months.
- Quisitive will have the ability to onboard customers and process payments from all major card brands beginning in the second quarter.
- The Company is also pleased to share that it has initiated a process with American Express for the OptBlue and AMEX direct payment processor services.
- Quisitive has now secured two additional ISO customer agreements: Digipro and previously announced Payment Floor (formerly known as Paytron). LedgerPay’s automated features including merchant boarding was a major factor in each selecting LedgerPay as its payment processing provider.
- LedgerPay’s payment processing services will be operationalized in phases throughout 2022, with a focus on initial pilot customers in Q2, migration of BankCard USA customers to the LedgerPay platform beginning in Q3 and continuing over the subsequent four quarters. The Company will also begin onboarding customers from the previously mentioned ISO agreements as well as additional new customers during the second half of 2022.
- The Company’s Payments Intelligence
sales team remains focused on pursuing opportunities in the quick serve restaurant and convenience store verticals. The Company anticipates Payments Intelligence 
proof of concepts with customers to begin this summer and initial production customers in Q4.
- The Company is in the final stages of securing a Canadian bank sponsor agreement to establish the LedgerPay payments platform as a new entrant in debit and credit payments in Canada.
- Quisitive and Catapult have begun to capitalize on synergies between the two organizations, including a consolidated recruiting engine to fuel headcount growth, a joint security assessment offering, and initial motions to cross-sell Catapult Managed Services offerings for security and Microsoft Azure.
- While the primary focus is on integrating the Catapult acquisition across marketing, sales, delivery, and culture, the Company continues to explore M&A opportunities in both payments and cloud to add accretive value later in 2022.
- Quisitive has begun the process and preparation to graduate to the TSX later this year.
"Our team continues to make strategic incremental progress across our stated goals for both payments and cloud solutions," said Company CEO Mike Reinhart. "We remain laser-focused on LedgerPay platform testing and certification as well as the integration of the Catapult Systems acquisition. Our vision for 2022 includes significant organic growth across both businesses as well as further M&A to accelerate our impact for customers and shareholders.”
About Quisitive:
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 seventeen employee hubs across the world. For more information, visit www.Quisitive.com and follow @BeQuisitive.
Quisitive Investor Contact
Matt Glover and John Yi
Gateway Investor Relations
QUIS@gatewayir.com
949-574-3860
Quisitive Management Contact
Mike Reinhart
President and Chief Executive Officer
mike.reinhart@quisitive.com
949-574-3860
Tami Anders
Chief of Staff
tami.anders@quisitive.com
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: information concerning anticipated synergies, growth prospectus, projected milestones and timelines, and other anticipated benefits and impacts of the Transaction.
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 headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in the prospectus supplement to the Company’s amended and restated short form base shelf prospectus dated September 10, 2021 in relation to the offering of common shares of the Company and the Transaction, and those factors described under the heading "Risks Factors" in the Company's annual information form dated August 20, 2021, each of 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.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
