Quisitive Technology Solutions, Inc. Announces Its LedgerPay Unit Executes Letter Of Intent with Bank Sponsor to Enable Payment Processing
January 13, 2021 at 01:23 pm
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Quisitive Technology Solutions Inc. announced that its LedgerPay unit has entered into a letter of intent with a major merchant acquiring bank as a sponsor for direct payment processing for Visa, Mastercard, and other major credit and debit card brands. As the only payment processing platform solution that leverages the Microsoft Azure cloud, Quisitive's LedgerPay solution lets merchants securely process payments online and in-stores and provides unique insights into consumer behavior for brick-and-mortar retailers. The technology behind LedgerPay was developed internally by the Company and incorporates data collection and analysis with each payment transaction, ultimately enabling retailers to drive revenue while creating personalized loyalty at scale. To enable the full payment processing capabilities of Quisitive's LedgerPay platform, the Company required a bank sponsorship, a pre-requisite for connecting its solution to major payment card networks such as Visa and Mastercard. Upon finalizing the definitive agreement, targeted for mid- February, Quisitive expects LedgerPay to jointly go-to-market, through a partnership model, with its sponsor bank to independent sales organizations ("ISOs"), or companies that sell credit card processing services independently from a financial firm or bank. Furthermore, the sponsor bank will be able to provide LedgerPay with incremental merchant customers through its already existing ISO relationships.
Quisitive Technology Solutions, Inc. is a global Microsoft partner leveraging the Microsoft cloud platform and artificial intelligence, alongside custom and proprietary technologies. The Company's cloud segment solution segment delivers technical cloud and business solutions to help customers achieve their business goals. It harnesses the Microsoft platform and complementary technologies, including custom solutions and first-party offerings, to generate meaningful impact for midsize and enterprise customers. Its cloud solutions business focuses on helping enterprise move to, operate within, and innovate via modern development in the three Microsoft clouds (Azure, Microsoft 365, Dynamics 365). Its segment includes technology services, including those addressing infrastructure, data, analytics, security, digital workplace, application development, and business applications service that apply the benefits of technology to solve business needs and help customers meet their goals.