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automated underwriting system, which enables the seamless onboarding of a multitude of accounts without the cumbersome, outdated manual processes typically required by other platforms.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:
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.
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.
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.
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.
